Inspire Trust Co. N.A. Purchases 2,600 Shares of Prologis, Inc. (NYSE:PLD)

Key Points

• Inspire Trust Co. N.A. increased its holdings in Prologis, Inc. by 7.8%, acquiring an additional 2,600 shares, resulting in a total of 36,000 shares valued at approximately $4,024,000.
• Several analysts have downgraded Prologis's stock ratings recently, with target prices ranging from $106.00 to $117.00, reflecting concerns about its performance.
• Prologis reported quarterly earnings of $1.46 EPS, exceeding analysts' expectations, and experienced an 8.8% year-over-year revenue growth.

Inspire Trust Co. N.A. lifted its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 7.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 36,000 shares of the real estate investment trust's stock after purchasing an additional 2,600 shares during the period. Inspire Trust Co. N.A.'s holdings in Prologis were worth $4,024,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of PLD. Vanguard Group Inc. grew its position in Prologis by 0.7% in the first quarter. Vanguard Group Inc. now owns 121,339,410 shares of the real estate investment trust's stock valued at $13,564,533,000 after purchasing an additional 869,310 shares in the last quarter. Northern Trust Corp grew its position in shares of Prologis by 54.6% in the fourth quarter. Northern Trust Corp now owns 13,855,339 shares of the real estate investment trust's stock valued at $1,464,509,000 after purchasing an additional 4,893,284 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Prologis during the first quarter worth $1,456,768,000. Capital Research Global Investors boosted its holdings in Prologis by 25.4% in the 4th quarter. Capital Research Global Investors now owns 12,345,523 shares of the real estate investment trust's stock valued at $1,304,922,000 after purchasing an additional 2,500,761 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Prologis by 5.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,648,872 shares of the real estate investment trust's stock valued at $1,125,586,000 after acquiring an additional 505,318 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Trading Up 0.6%

PLD traded up $0.68 on Friday, hitting $106.53. 1,924,191 shares of the company were exchanged, compared to its average volume of 3,687,758. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.65 and a current ratio of 0.65. Prologis, Inc. has a 12 month low of $85.35 and a 12 month high of $132.57. The stock has a market capitalization of $98.87 billion, a PE ratio of 28.87, a price-to-earnings-growth ratio of 2.67 and a beta of 1.21. The firm has a fifty day simple moving average of $107.13 and a two-hundred day simple moving average of $109.10.

Prologis (NYSE:PLD - Get Free Report) last issued its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $2.03 billion. During the same period last year, the company earned $1.34 EPS. The business's quarterly revenue was up 8.8% compared to the same quarter last year. Sell-side analysts expect that Prologis, Inc. will post 5.73 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have issued reports on PLD. Truist Financial decreased their target price on Prologis from $123.00 to $120.00 and set a "buy" rating on the stock in a research report on Monday, May 5th. Royal Bank Of Canada decreased their target price on shares of Prologis from $128.00 to $117.00 and set a "sector perform" rating for the company in a research report on Tuesday, April 29th. Wolfe Research lowered Prologis from an "outperform" rating to a "peer perform" rating in a research report on Monday, April 21st. UBS Group boosted their target price on shares of Prologis from $106.00 to $120.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Finally, Scotiabank boosted their price objective on Prologis from $97.00 to $100.00 and gave the company a "sector underperform" rating in a report on Monday, May 12th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $120.33.

Prologis 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.