Madison Asset Management LLC bought a new position in shares of Prologis, Inc. (NYSE:PLD - Free Report) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 29,581 shares of the real estate investment trust's stock, valued at approximately $4,007,000.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Prologis in the 2nd quarter worth approximately $14,006,587,000. Norges Bank acquired a new stake in shares of Prologis during the 4th quarter worth about $1,589,125,000. Cardano Risk Management B.V. grew its stake in Prologis by 999.3% in the 4th quarter. Cardano Risk Management B.V. now owns 11,228,730 shares of the real estate investment trust's stock worth $1,433,460,000 after acquiring an additional 10,207,267 shares during the period. Deutsche Bank AG acquired a new position in Prologis in the second quarter valued at $968,959,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Prologis during the 2nd quarter valued at about $742,843,000. Institutional investors and hedge funds own 93.50% of the company's stock.
Analyst Ratings Changes
A number of research analysts recently weighed in on the company. Royal Bank Of Canada upgraded Prologis from a "sector perform" rating to an "outperform" rating and lifted their target price for the company from $148.00 to $160.00 in a report on Tuesday, August 4th. Weiss Ratings upgraded Prologis from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, August 12th. Truist Financial upped their price target on Prologis from $154.00 to $162.00 and gave the stock a "buy" rating in a report on Tuesday, July 21st. Wall Street Zen upgraded shares of Prologis from a "sell" rating to a "hold" rating in a research note on Saturday, July 18th. Finally, Scotiabank upped their target price on shares of Prologis from $146.00 to $150.00 and gave the company a "sector perform" rating in a research note on Thursday, July 23rd. Sixteen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, Prologis has a consensus rating of "Moderate Buy" and an average price target of $154.57.
Check Out Our Latest Stock Analysis on Prologis
Prologis Stock Down 0.6%
NYSE:PLD opened at $140.51 on Friday. The company has a market capitalization of $131.11 billion, a price-to-earnings ratio of 31.29 and a beta of 1.31. The stock has a 50-day simple moving average of $142.66 and a 200 day simple moving average of $140.28. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.70 and a current ratio of 0.70. Prologis, Inc. has a one year low of $107.84 and a one year high of $153.35.
Prologis (NYSE:PLD - Get Free Report) last posted its quarterly earnings results on Thursday, July 16th. The real estate investment trust reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.38. The business had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.16 billion. Prologis had a return on equity of 7.29% and a net margin of 45.79%.The business's revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.46 EPS. Prologis has set its FY 2026 guidance at 6.220-6.300 EPS. Sell-side analysts predict that Prologis, Inc. will post 6.28 EPS for the current fiscal year.
Insider Buying and Selling at Prologis
In related news, CFO Timothy D. Arndt sold 3,597 shares of the firm's stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $150.00, for a total value of $539,550.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.52% of the company's stock.
About Prologis
(
Free Report)
Prologis, Inc is a real estate investment trust (REIT) specializing in logistics and distribution facilities. The company focuses on acquiring, developing, and managing high-quality industrial real estate assets that support supply chain infrastructure for third-party logistics providers, e-commerce businesses, retailers and manufacturers. Its portfolio primarily consists of warehouse and distribution centers designed to optimize goods movement and storage near key transportation hubs.
With a global presence, Prologis serves customers across the Americas, Europe and Asia Pacific.
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