7,820 Shares in Prologis, Inc. (NYSE:PLD) Bought by Coronation Fund Managers Ltd.

Coronation Fund Managers Ltd. bought a new position in shares of Prologis, Inc. (NYSE:PLD) in the 2nd quarter, Holdings Channel.com reports. The fund bought 7,820 shares of the real estate investment trust’s stock, valued at approximately $878,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Miracle Mile Advisors LLC lifted its holdings in Prologis by 6.3% during the 2nd quarter. Miracle Mile Advisors LLC now owns 15,129 shares of the real estate investment trust’s stock worth $1,699,000 after buying an additional 893 shares during the last quarter. Verde Capital Management lifted its holdings in shares of Prologis by 13.3% in the 2nd quarter. Verde Capital Management now owns 16,049 shares of the real estate investment trust’s stock valued at $1,802,000 after purchasing an additional 1,888 shares during the last quarter. Triad Wealth Partners LLC purchased a new stake in shares of Prologis in the 2nd quarter valued at about $54,000. Swedbank AB lifted its holdings in shares of Prologis by 9.2% in the 2nd 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. Finally, Community Trust & Investment Co. lifted its holdings in shares of Prologis by 198.7% in the 2nd quarter. Community Trust & Investment Co. now owns 68,167 shares of the real estate investment trust’s stock valued at $7,656,000 after purchasing an additional 45,349 shares during the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. JPMorgan Chase & Co. reduced their price objective on Prologis from $143.00 to $128.00 and set an “overweight” rating for the company in a research note on Thursday, April 25th. Mizuho reduced their price objective on Prologis from $130.00 to $120.00 and set a “neutral” rating for the company in a research note on Friday, May 31st. Scotiabank upped their price objective on Prologis from $130.00 to $135.00 and gave the company a “sector outperform” rating in a research note on Wednesday, August 7th. StockNews.com raised Prologis from a “sell” rating to a “hold” rating in a research note on Thursday, July 18th. Finally, Barclays boosted their target price on Prologis from $123.00 to $142.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Seven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $131.81.

Prologis Trading Down 1.5 %

Shares of PLD traded down $1.92 during trading hours on Friday, hitting $122.85. The stock had a trading volume of 2,899,167 shares, compared to its average volume of 3,709,659. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.29 and a current ratio of 0.36. The firm has a market cap of $113.74 billion, a P/E ratio of 35.92, a P/E/G ratio of 3.02 and a beta of 1.06. The company’s fifty day simple moving average is $117.88 and its 200 day simple moving average is $119.39. Prologis, Inc. has a 12-month low of $96.64 and a 12-month high of $137.52.

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

Prologis 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.