4,787 Shares in Prologis, Inc. $PLD Acquired by ICONIQ Capital LLC

Key Points

• ICONIQ Capital LLC has made a new investment of approximately $535,000 in Prologis, Inc., acquiring 4,787 shares during the first quarter.
• The stock of Prologis, Inc. has demonstrated a 12-month performance range with a low of $85.35 and a high of $132.57, currently trading around $112.17.
• Prologis recently reported earnings, with $1.46 EPS exceeding expectations, and has set a FY 2025 guidance of 5.750-5.800 EPS.

ICONIQ Capital LLC acquired a new stake in Prologis, Inc. (NYSE:PLD - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 4,787 shares of the real estate investment trust's stock, valued at approximately $535,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. REAP Financial Group LLC grew its position in Prologis by 40.0% during the fourth quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust's stock valued at $31,000 after acquiring an additional 84 shares during the period. Pandora Wealth Inc. purchased a new stake in Prologis during the first quarter valued at about $34,000. GKV Capital Management Co. Inc. purchased a new stake in Prologis during the first quarter valued at about $34,000. Olde Wealth Management LLC purchased a new stake in Prologis during the first quarter valued at about $43,000. Finally, Cornerstone Planning Group LLC grew its position in Prologis by 63.6% during the first quarter. Cornerstone Planning Group LLC now owns 391 shares of the real estate investment trust's stock valued at $44,000 after acquiring an additional 152 shares during the period. Hedge funds and other institutional investors own 93.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PLD. Wells Fargo & Company set a $137.00 price target on Prologis and gave the company an "overweight" rating in a research report on Sunday, July 13th. Citigroup decreased their target price on Prologis from $150.00 to $140.00 and set a "buy" rating for the company in a research report on Wednesday, July 23rd. Barclays decreased their target price on Prologis from $132.00 to $119.00 and set an "overweight" rating for the company in a research report on Wednesday, April 30th. UBS Group upped their target price on Prologis from $106.00 to $120.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Finally, Scotiabank set a $114.00 target price on Prologis and gave the stock a "sector perform" rating in a research report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $121.83.

Insider Activity

In related news, CAO Lori A. Palazzolo sold 25,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $111.33, for a total value of $2,783,250.00. Following the sale, the chief accounting officer owned 414 shares of the company's stock, valued at approximately $46,090.62. This trade represents a 98.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.57% of the company's stock.

Prologis Stock Up 0.0%

PLD traded up $0.05 on Thursday, reaching $112.73. The company's stock had a trading volume of 2,549,104 shares, compared to its average volume of 4,439,100. The stock has a market cap of $104.64 billion, a price-to-earnings ratio of 30.55, a price-to-earnings-growth ratio of 2.79 and a beta of 1.21. Prologis, Inc. has a 1 year low of $85.35 and a 1 year high of $132.57. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.65 and a quick ratio of 0.65. The business's 50 day moving average is $107.59 and its 200 day moving average is $108.70.

Prologis (NYSE:PLD - Get Free Report) last issued its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 EPS for the quarter, beating analysts' consensus estimates of $1.41 by $0.05. Prologis had a return on equity of 5.96% and a net margin of 40.29%.The firm had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the prior year, the business posted $1.34 earnings per share. Prologis's revenue for the quarter was up 8.8% on a year-over-year basis. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. As a group, research analysts forecast that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Company Profile

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.