69,341 Shares in Prologis, Inc. (NYSE:PLD) Bought by Zions Bancorporation National Association UT

Key Points

• Zions Bancorporation National Association UT has acquired a new position in Prologis, Inc., purchasing 69,341 shares valued at approximately $7.75 million in the first quarter.
• Institutional investors currently own 93.50% of Prologis stock, indicating strong interest from larger financial entities.
• Prologis reported $1.46 EPS for its latest quarter, exceeding analyst expectations and showing an 8.8% revenue increase compared to the same quarter last year.

Zions Bancorporation National Association UT bought a new stake in Prologis, Inc. (NYSE:PLD - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 69,341 shares of the real estate investment trust's stock, valued at approximately $7,752,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. REAP Financial Group LLC raised its holdings in Prologis by 40.0% during the fourth quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust's stock worth $31,000 after purchasing an additional 84 shares in the last quarter. Olde Wealth Management LLC purchased a new position in Prologis in the 1st quarter valued at $43,000. Cornerstone Planning Group LLC boosted its position in shares of Prologis by 63.6% during the 1st quarter. Cornerstone Planning Group LLC now owns 391 shares of the real estate investment trust's stock worth $44,000 after purchasing an additional 152 shares in the last quarter. Missouri Trust & Investment Co boosted its position in shares of Prologis by 59.6% during the 1st quarter. Missouri Trust & Investment Co now owns 399 shares of the real estate investment trust's stock worth $45,000 after purchasing an additional 149 shares in the last quarter. Finally, Bogart Wealth LLC boosted its position in shares of Prologis by 56.2% during the 1st quarter. Bogart Wealth LLC now owns 417 shares of the real estate investment trust's stock worth $47,000 after purchasing an additional 150 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on PLD. Barclays decreased their target price on shares of Prologis from $132.00 to $119.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 30th. Robert W. Baird cut their price target on Prologis from $126.00 to $120.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Truist Financial cut their price target on Prologis from $123.00 to $120.00 and set a "buy" rating for the company in a research note on Monday, May 5th. BMO Capital Markets cut their price target on Prologis from $105.00 to $95.00 and set an "outperform" rating for the company in a research note on Monday, April 14th. Finally, Evercore ISI cut their price target on Prologis from $111.00 to $106.00 and set an "in-line" rating for the company in a research note on Thursday, April 17th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, Prologis has an average rating of "Moderate Buy" and a consensus price target of $120.74.

Prologis Trading Up 0.6%

PLD traded up $0.63 on Tuesday, reaching $104.71. 1,429,934 shares of the company's stock were exchanged, compared to its average volume of 4,545,584. The company's 50 day moving average is $107.34 and its 200-day moving average is $109.42. The company has a market cap of $97.18 billion, a price-to-earnings ratio of 28.37, a PEG ratio of 2.65 and a beta of 1.21. Prologis, Inc. has a twelve month low of $85.35 and a twelve month high of $132.57. 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 (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 for the quarter, topping analysts' consensus estimates of $1.41 by $0.05. The firm had revenue of $2.03 billion during the quarter, compared to analysts' expectations of $2.03 billion. Prologis had a return on equity of 5.96% and a net margin of 40.29%. Prologis's quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.34 EPS. Equities analysts predict that Prologis, Inc. will post 5.73 earnings per share for the current year.

About Prologis

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.