Wealthfront Advisers LLC Acquires Shares of 126,997 Prologis, Inc. $PLD

Key Points

• Wealthfront Advisers acquired 126,997 Prologis shares during the second quarter, valued at approximately $17.2 million. Institutional investors and hedge funds collectively own 93.5% of Prologis stock.
• Analysts maintain a positive outlook, with 16 Buy ratings and seven Holds. Prologis has a consensus rating of “Moderate Buy” and an average price target of $154.57.
• Prologis reported quarterly earnings of $1.13 per share, exceeding estimates of $0.75, while revenue rose 11% year over year to $2.43 billion. The stock opened at $140.30, near its $140.13 200-day moving average.

Wealthfront Advisers LLC acquired a new position in shares of Prologis, Inc. (NYSE:PLD - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 126,997 shares of the real estate investment trust's stock, valued at approximately $17,204,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in PLD. Brighton Jones LLC lifted its holdings in shares of Prologis by 629.0% in the 4th quarter. Brighton Jones LLC now owns 17,475 shares of the real estate investment trust's stock valued at $1,847,000 after purchasing an additional 15,078 shares during the last quarter. Schnieders Capital Management LLC. grew its stake in Prologis by 45.4% during the 2nd quarter. Schnieders Capital Management LLC. now owns 10,728 shares of the real estate investment trust's stock worth $1,128,000 after buying an additional 3,350 shares during the last quarter. Walleye Capital LLC acquired a new position in Prologis during the second quarter worth approximately $422,000. NewEdge Advisors LLC increased its position in Prologis by 6.8% during the second quarter. NewEdge Advisors LLC now owns 63,829 shares of the real estate investment trust's stock worth $6,710,000 after buying an additional 4,074 shares during the period. Finally, Treasurer of the State of North Carolina increased its position in Prologis by 2.4% during the second quarter. Treasurer of the State of North Carolina now owns 433,312 shares of the real estate investment trust's stock worth $45,550,000 after buying an additional 10,266 shares during the period. Institutional investors and hedge funds own 93.50% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Robert W. Baird set a $140.00 price objective on Prologis in a report on Friday, July 31st. DA Davidson lifted their target price on shares of Prologis from $140.00 to $160.00 and gave the company a "buy" rating in a report on Tuesday, April 21st. JPMorgan Chase & Co. upped their price target on shares of Prologis from $141.00 to $157.00 and gave the company an "overweight" rating in a research report on Tuesday, April 21st. Barclays increased their price target on shares of Prologis from $139.00 to $156.00 and gave the stock an "overweight" rating in a research note on Thursday, July 16th. Finally, Wells Fargo & Company raised their price objective on shares of Prologis from $155.00 to $167.00 and gave the stock an "overweight" rating in a research report on Monday, June 1st. Sixteen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, Prologis has a consensus rating of "Moderate Buy" and a consensus price target of $154.57.

Prologis Stock Down 0.2%

PLD opened at $140.30 on Wednesday. Prologis, Inc. has a 52 week low of $107.03 and a 52 week high of $153.35. The business has a 50 day moving average price of $142.90 and a two-hundred day moving average price of $140.13. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.63. The company has a market cap of $130.91 billion, a PE ratio of 31.25 and a beta of 1.31.

Prologis (NYSE:PLD - Get Free Report) last announced its earnings results on Thursday, July 16th. The real estate investment trust reported $1.13 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.38. The company had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.16 billion. Prologis had a return on equity of 7.29% and a net margin of 45.79%.The company's revenue was up 11.0% on a year-over-year basis. During the same period last year, the business posted $1.46 EPS. Prologis has set its FY 2026 guidance at 6.220-6.300 EPS. As a group, research analysts anticipate that Prologis, Inc. will post 6.28 EPS for the current year.

Insider Buying and Selling at Prologis

In related news, CFO Timothy D. Arndt sold 3,597 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $150.00, for a total transaction of $539,550.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.52% of the stock is currently owned by corporate insiders.

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.

Want to see what other hedge funds are holding PLD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Prologis, Inc. (NYSE:PLD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source