Texas Capital Bank Wealth Management Services Inc Has $7.58 Million Position in Prologis, Inc. $PLD

Key Points

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Texas Capital Bank Wealth Management Services Inc grew its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 14.3% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 67,794 shares of the real estate investment trust's stock after buying an additional 8,470 shares during the period. Texas Capital Bank Wealth Management Services Inc's holdings in Prologis were worth $7,579,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Alley Investment Management Company LLC raised its position in shares of Prologis by 102.8% during the first quarter. Alley Investment Management Company LLC now owns 108,335 shares of the real estate investment trust's stock valued at $12,111,000 after buying an additional 54,914 shares during the last quarter. First Citizens Bank & Trust Co. raised its position in Prologis by 1,451.2% in the first quarter. First Citizens Bank & Trust Co. now owns 31,180 shares of the real estate investment trust's stock worth $3,486,000 after purchasing an additional 29,170 shares in the last quarter. Truist Financial Corp raised its position in Prologis by 9.3% in the first quarter. Truist Financial Corp now owns 297,270 shares of the real estate investment trust's stock worth $33,232,000 after purchasing an additional 25,229 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Prologis by 2.2% in the first 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 purchasing an additional 6,350 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC raised its position in Prologis by 3.1% in the first quarter. Dynamic Advisor Solutions LLC now owns 5,506 shares of the real estate investment trust's stock worth $615,000 after purchasing an additional 167 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company's stock.

Prologis Price Performance

PLD opened at $105.50 on Tuesday. Prologis, Inc. has a one year low of $85.35 and a one 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 company's 50 day simple moving average is $107.06 and its 200-day simple moving average is $108.92. The stock has a market capitalization of $97.91 billion, a P/E ratio of 28.59, a price-to-earnings-growth ratio of 2.67 and a beta of 1.21.

Prologis (NYSE:PLD - Get Free Report) last released its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 EPS for the quarter, beating the consensus estimate of $1.41 by $0.05. Prologis had a net margin of 40.29% and a return on equity of 5.96%. The business had revenue of $2.03 billion for the quarter, compared to analysts' expectations of $2.03 billion. During the same period in the prior year, the firm earned $1.34 earnings per share. Prologis's revenue was up 8.8% compared to the same quarter last year. Sell-side analysts anticipate that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on PLD shares. Truist Financial dropped their price target on shares of Prologis from $123.00 to $120.00 and set a "buy" rating for the company in a research report on Monday, May 5th. Wolfe Research lowered shares of Prologis from an "outperform" rating to a "peer perform" rating in a research report on Monday, April 21st. Wells Fargo & Company set a $137.00 price target on shares of Prologis and gave the stock an "overweight" rating in a research report on Sunday, July 13th. Royal Bank Of Canada dropped their price target 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. Finally, Scotiabank increased their price target on shares of Prologis from $97.00 to $100.00 and gave the stock a "sector underperform" rating in a research report on Monday, May 12th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, Prologis currently has a consensus rating of "Moderate Buy" and a consensus price target of $120.33.

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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