Family Firm Inc. Buys Shares of 848 Prologis, Inc. (NYSE:PLD)

Family Firm Inc. purchased a new position in shares of Prologis, Inc. (NYSE:PLD) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 848 shares of the real estate investment trust’s stock, valued at approximately $95,000.

A number of other hedge funds also recently modified their holdings of PLD. Nordea Investment Management AB raised its stake in shares of Prologis by 380.0% in the first quarter. Nordea Investment Management AB now owns 333,022 shares of the real estate investment trust’s stock valued at $43,046,000 after buying an additional 263,649 shares during the period. Janney Capital Management LLC raised its stake in Prologis by 18.8% in the 4th quarter. Janney Capital Management LLC now owns 23,872 shares of the real estate investment trust’s stock valued at $3,182,000 after acquiring an additional 3,773 shares during the period. Swedbank AB lifted its holdings in Prologis by 9.2% during the second quarter. Swedbank AB now owns 5,002,274 shares of the real estate investment trust’s stock valued at $561,805,000 after purchasing an additional 420,687 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in Prologis by 36.1% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 162,990 shares of the real estate investment trust’s stock worth $18,305,000 after purchasing an additional 43,235 shares during the period. Finally, Atalanta Sosnoff Capital LLC bought a new position in Prologis during the fourth quarter worth about $18,551,000. Institutional investors own 93.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on PLD shares. Barclays upped their price target on shares of Prologis from $123.00 to $142.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Morgan Stanley raised their price target on Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Mizuho decreased their price objective on Prologis from $130.00 to $120.00 and set a “neutral” rating on the stock in a research note on Friday, May 31st. Robert W. Baird dropped their price objective on Prologis from $137.00 to $117.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Finally, Bank of America reaffirmed a “neutral” rating and set a $128.00 target price on shares of Prologis in a report on Monday, August 12th. Seven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $131.75.

Prologis Trading Up 2.3 %

PLD stock traded up $2.88 during midday trading on Friday, hitting $128.86. The company had a trading volume of 2,938,701 shares, compared to its average volume of 3,666,829. The company has a current ratio of 0.36, a quick ratio of 0.29 and a debt-to-equity ratio of 0.52. Prologis, Inc. has a 52 week low of $96.64 and a 52 week high of $137.52. The stock has a market cap of $119.30 billion, a price-to-earnings ratio of 37.68, a PEG ratio of 3.02 and a beta of 1.06. The stock’s 50 day moving average price is $119.24 and its 200 day moving average price is $119.31.

Prologis (NYSE:PLD) last announced its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.41). The firm had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.86 billion. Prologis had a return on equity of 4.88% and a net margin of 36.37%. Prologis’s revenue was down 18.1% on a year-over-year basis. During the same period last year, the business earned $1.83 EPS. As a group, equities research analysts expect that Prologis, Inc. will post 5.43 earnings per share 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.