Steward Partners Investment Advisory LLC Buys 2,506 Shares of Prologis, Inc. $PLD

Key Points

• Steward Partners Investment Advisory LLC increased its stake in Prologis, Inc. by 8.5%, acquiring an additional 2,506 shares, bringing its total ownership to 32,082 shares valued at approximately $3.59 million.
• Institutional investors own 93.50% of Prologis shares, with several other large investors also significantly increasing their positions during the first quarter of 2024.
• Prologis reported a quarterly earnings per share (EPS) of $1.46, exceeding analysts' estimates, and demonstrated an 8.8% year-over-year increase in revenue.

Steward Partners Investment Advisory LLC raised its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 8.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 32,082 shares of the real estate investment trust's stock after purchasing an additional 2,506 shares during the period. Steward Partners Investment Advisory LLC's holdings in Prologis were worth $3,586,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of PLD. Alley Investment Management Company LLC raised its position in shares of Prologis by 102.8% in the 1st quarter. Alley Investment Management Company LLC now owns 108,335 shares of the real estate investment trust's stock worth $12,111,000 after acquiring an additional 54,914 shares in the last quarter. First Citizens Bank & Trust Co. raised its position in shares of Prologis by 1,451.2% in the 1st quarter. First Citizens Bank & Trust Co. now owns 31,180 shares of the real estate investment trust's stock worth $3,486,000 after acquiring an additional 29,170 shares in the last quarter. Truist Financial Corp raised its position in shares of Prologis by 9.3% in the 1st quarter. Truist Financial Corp now owns 297,270 shares of the real estate investment trust's stock worth $33,232,000 after acquiring an additional 25,229 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Prologis by 2.2% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 297,426 shares of the real estate investment trust's stock worth $33,249,000 after acquiring an additional 6,350 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC raised its position in shares of Prologis by 3.1% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 5,506 shares of the real estate investment trust's stock worth $615,000 after acquiring an additional 167 shares in the last quarter. 93.50% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PLD. Scotiabank lifted their price objective on Prologis from $97.00 to $100.00 and gave the stock a "sector underperform" rating in a research report on Monday, May 12th. Robert W. Baird lowered their price objective on Prologis from $126.00 to $120.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Wall Street Zen lowered Prologis from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. UBS Group raised their target price on Prologis from $106.00 to $120.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Finally, Wells Fargo & Company set a $137.00 target price on Prologis and gave the company an "overweight" rating in a research note on Sunday, July 13th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $121.06.

Prologis Price Performance

PLD stock opened at $110.5590 on Wednesday. The company has a market capitalization of $102.61 billion, a P/E ratio of 29.96, a price-to-earnings-growth ratio of 2.64 and a beta of 1.21. 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 52-week low of $85.35 and a 52-week high of $132.57. The business has a 50-day simple moving average of $107.08 and a two-hundred day simple moving average of $108.94.

Prologis (NYSE:PLD - Get Free Report) last released its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.41 by $0.05. The business had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.03 billion. Prologis had a return on equity of 5.96% and a net margin of 40.29%.The company's quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.34 EPS. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. Research analysts expect 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.

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