Pacific Heights Asset Management LLC Acquires Shares of 225,000 Prologis, Inc. $PLD

Key Points

• Pacific Heights Asset Management acquired 225,000 Prologis shares during the second quarter, valued at approximately $30.5 million. Institutional investors and hedge funds collectively own 93.5% of the REIT.
• Analyst sentiment remains positive, with 16 Buy ratings and seven Holds, producing a “Moderate Buy” consensus and an average price target of $154.57. Several firms recently raised their targets, while Raymond James initiated coverage with a Market Perform rating.
• Prologis exceeded quarterly earnings and revenue expectations, reporting $1.13 in EPS and $2.43 billion in revenue, up 11% year over year. Shares opened at $141.99, while the CFO recently sold 3,597 shares at an average price of $150.

Pacific Heights Asset Management LLC acquired a new position in shares of Prologis, Inc. (NYSE:PLD - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 225,000 shares of the real estate investment trust's stock, valued at approximately $30,481,000.

Other institutional investors also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of Prologis in the second quarter worth $14,006,587,000. Geode Capital Management LLC boosted its stake in Prologis by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 23,012,940 shares of the real estate investment trust's stock valued at $2,925,791,000 after acquiring an additional 339,906 shares during the last quarter. Capital Research Global Investors boosted its stake in Prologis by 4.4% during the 4th quarter. Capital Research Global Investors now owns 16,061,390 shares of the real estate investment trust's stock valued at $2,050,397,000 after acquiring an additional 678,363 shares during the last quarter. Norges Bank acquired a new position in Prologis during the 4th quarter worth $1,589,125,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in Prologis by 4.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 11,639,644 shares of the real estate investment trust's stock worth $1,485,917,000 after acquiring an additional 516,765 shares in the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Raymond James Financial started coverage on shares of Prologis in a research note on Thursday, June 18th. They issued a "market perform" rating on the stock. BTIG Research lifted their price target on Prologis from $160.00 to $170.00 and gave the stock a "buy" rating in a research note on Wednesday, July 1st. Truist Financial boosted their price objective on Prologis from $154.00 to $162.00 and gave the company a "buy" rating in a report on Tuesday, July 21st. Scotiabank upped their price objective on Prologis from $146.00 to $150.00 and gave the company a "sector perform" rating in a research note on Thursday, July 23rd. Finally, Weiss Ratings downgraded Prologis from a "buy (b)" rating to a "buy (b-)" rating in a report on Wednesday. Sixteen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $154.57.

Insider Buying and Selling

In other Prologis news, CFO Timothy D. Arndt sold 3,597 shares of Prologis 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 Securities & Exchange Commission, which can be accessed through this hyperlink. 0.52% of the stock is currently owned by insiders.

Prologis Stock Down 0.4%

Shares of NYSE:PLD opened at $141.99 on Friday. The company's fifty day moving average is $142.44 and its two-hundred day moving average is $140.59. 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 1-year low of $110.51 and a 1-year high of $153.35. The stock has a market capitalization of $132.49 billion, a price-to-earnings ratio of 31.62 and a beta of 1.31.

Prologis (NYSE:PLD - Get Free Report) last posted its quarterly earnings results on Thursday, July 16th. The real estate investment trust reported $1.13 EPS for the quarter, beating the consensus estimate of $0.75 by $0.38. Prologis had a net margin of 45.79% and a return on equity of 7.29%. The business had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same period in the previous year, the business posted $1.46 EPS. The company's quarterly revenue was up 11.0% on a year-over-year basis. Prologis has set its FY 2026 guidance at 6.220-6.300 EPS. Equities analysts anticipate that Prologis, Inc. will post 6.27 EPS for the current year.

About Prologis

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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