HighTower Advisors LLC Has $23.61 Million Position in Prologis, Inc. (NYSE:PLD)

Key Points

• HighTower Advisors LLC increased its holdings in Prologis, Inc. by 17.6%, owning 211,218 shares valued at $23.61 million as of the end of the most recent quarter.
• Wall Street analysts issued mixed ratings for Prologis, with price objectives ranging from $100 to $137, and a consensus rating of "Moderate Buy".
• Prologis reported $1.46 EPS for the last quarter, surpassing estimates and demonstrating an 8.8% year-over-year revenue increase of $2.03 billion.

HighTower Advisors LLC lifted its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 17.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 211,218 shares of the real estate investment trust's stock after purchasing an additional 31,684 shares during the quarter. HighTower Advisors LLC's holdings in Prologis were worth $23,612,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. REAP Financial Group LLC raised its position in shares of Prologis by 40.0% during the fourth quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust's stock worth $31,000 after purchasing an additional 84 shares during the period. Pandora Wealth Inc. bought a new position in shares of Prologis during the first quarter worth about $34,000. Olde Wealth Management LLC bought a new position in shares of Prologis during the first quarter worth about $43,000. Cornerstone Planning Group LLC grew its holdings in shares of Prologis by 63.6% during the first quarter. Cornerstone Planning Group LLC now owns 391 shares of the real estate investment trust's stock worth $44,000 after buying an additional 152 shares in the last quarter. Finally, Missouri Trust & Investment Co grew its holdings in shares of Prologis by 59.6% during the first quarter. Missouri Trust & Investment Co now owns 399 shares of the real estate investment trust's stock worth $45,000 after buying an additional 149 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PLD. Barclays decreased their price objective on Prologis from $132.00 to $119.00 and set an "overweight" rating for the company in a report on Wednesday, April 30th. Wolfe Research downgraded Prologis from an "outperform" rating to a "peer perform" rating in a report on Monday, April 21st. Royal Bank Of Canada decreased their price objective on Prologis from $128.00 to $117.00 and set a "sector perform" rating for the company in a report on Tuesday, April 29th. Wells Fargo & Company set a $137.00 price objective on Prologis and gave the stock an "overweight" rating in a report on Sunday, July 13th. Finally, Scotiabank increased their price objective on Prologis from $97.00 to $100.00 and gave the stock a "sector underperform" rating in a report on Monday, May 12th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $120.33.

Prologis Stock Performance

Shares of NYSE PLD opened at $106.53 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.61. Prologis, Inc. has a 12 month low of $85.35 and a 12 month high of $132.57. The stock has a 50 day moving average of $107.13 and a 200-day moving average of $109.17. The company has a market capitalization of $98.87 billion, a P/E ratio of 28.87, a P/E/G ratio of 2.65 and a beta of 1.21.

Prologis (NYSE:PLD - Get Free Report) last issued its earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 EPS for the quarter, topping the consensus estimate of $1.41 by $0.05. Prologis had a return on equity of 5.96% and a net margin of 40.29%. The company had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the previous year, the company posted $1.34 EPS. The firm's revenue for the quarter was up 8.8% compared to the same quarter last year. As a group, equities research analysts predict that Prologis, Inc. will post 5.73 EPS for the current year.

About Prologis

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At March 31, 2024, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 1.2 billion square feet (115 million square meters) in 19 countries.

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