Financial Advocates Investment Management Buys 2,175 Shares of Prologis, Inc. (NYSE:PLD)

Financial Advocates Investment Management boosted its stake in Prologis, Inc. (NYSE:PLD) by 18.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,992 shares of the real estate investment trust’s stock after acquiring an additional 2,175 shares during the period. Financial Advocates Investment Management’s holdings in Prologis were worth $1,571,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Prologis by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 120,945,384 shares of the real estate investment trust’s stock valued at $15,749,508,000 after buying an additional 1,460,229 shares in the last quarter. Valeo Financial Advisors LLC grew its position in shares of Prologis by 182,067.2% during the 1st quarter. Valeo Financial Advisors LLC now owns 48,877,279 shares of the real estate investment trust’s stock valued at $6,364,799,000 after purchasing an additional 48,850,448 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Prologis by 3.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,532,773 shares of the real estate investment trust’s stock worth $1,670,621,000 after purchasing an additional 365,904 shares during the period. Principal Financial Group Inc. raised its position in shares of Prologis by 1.0% in the fourth quarter. Principal Financial Group Inc. now owns 12,325,559 shares of the real estate investment trust’s stock worth $1,642,997,000 after buying an additional 123,902 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Prologis by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 9,519,818 shares of the real estate investment trust’s stock valued at $1,268,992,000 after buying an additional 175,276 shares during the period. Institutional investors own 93.50% of the company’s stock.

Prologis Stock Down 1.4 %

Shares of PLD traded down $1.84 during mid-day trading on Thursday, reaching $125.06. The company had a trading volume of 577,940 shares, compared to its average volume of 3,623,321. 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 company has a market capitalization of $115.79 billion, a price-to-earnings ratio of 37.10, a price-to-earnings-growth ratio of 3.02 and a beta of 1.06. The firm has a 50-day moving average price of $119.97 and a 200 day moving average price of $119.12. Prologis, Inc. has a 52 week low of $96.64 and a 52 week high of $137.52.

Prologis (NYSE:PLD) last issued its quarterly 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). The company had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.86 billion. Prologis had a net margin of 36.37% and a return on equity of 4.88%. Prologis’s revenue was down 18.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.83 earnings per share. On average, sell-side analysts forecast that Prologis, Inc. will post 5.43 EPS for the current year.

Insider Buying and Selling at Prologis

In related news, CIO Joseph Ghazal sold 5,200 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $129.07, for a total transaction of $671,164.00. Following the sale, the executive now directly owns 13,187 shares of the company’s stock, valued at $1,702,046.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on PLD shares. StockNews.com raised shares of Prologis from a “sell” rating to a “hold” rating in a research note on Thursday, July 18th. Bank of America restated a “neutral” rating and set a $128.00 price objective on shares of Prologis in a research report on Monday, August 12th. Royal Bank of Canada lowered shares of Prologis from an “outperform” rating to a “sector perform” rating and upped their target price for the stock from $124.00 to $127.00 in a research report on Monday, August 5th. BMO Capital Markets restated a “market perform” rating and set a $115.00 price target on shares of Prologis in a research report on Monday, July 15th. Finally, Argus upped their price objective on Prologis from $120.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Seven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $133.12.

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.