Lee Danner & Bass Inc. Invests $335,000 in Prologis, Inc. (NYSE:PLD)

Lee Danner & Bass Inc. bought a new position in shares of Prologis, Inc. (NYSE:PLD) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,983 shares of the real estate investment trust’s stock, valued at approximately $335,000.

A number of other institutional investors and hedge funds have also modified their holdings of PLD. Nordea Investment Management AB grew its stake in Prologis by 380.0% during the 1st quarter. Nordea Investment Management AB now owns 333,022 shares of the real estate investment trust’s stock valued at $43,046,000 after acquiring an additional 263,649 shares in the last quarter. Janney Capital Management LLC grew its stake in Prologis by 18.8% during 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 in the last quarter. Swedbank AB grew its stake in Prologis by 9.2% during 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 acquiring an additional 420,687 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its stake in Prologis by 36.1% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 162,990 shares of the real estate investment trust’s stock valued at $18,305,000 after acquiring an additional 43,235 shares in the last quarter. Finally, Atalanta Sosnoff Capital LLC purchased a new stake in Prologis during the 4th quarter valued at about $18,551,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PLD. Wells Fargo & Company upped their price objective on shares of Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a research note on Wednesday. Morgan Stanley upped their price objective on shares of Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. BMO Capital Markets reaffirmed a “market perform” rating and set a $115.00 price objective on shares of Prologis in a research note on Monday, July 15th. Mizuho decreased their target price on shares of Prologis from $130.00 to $120.00 and set a “neutral” rating on the stock in a report on Friday, May 31st. Finally, Bank of America reiterated a “neutral” rating and issued 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, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Prologis presently has a consensus rating of “Moderate Buy” and an average price target of $133.12.

Insiders Place Their Bets

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were 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 in the company, valued at approximately $1,702,046.09. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.50% of the stock is owned by company insiders.

Prologis Stock Performance

Shares of PLD stock opened at $127.73 on Friday. The firm’s 50 day moving average price is $120.63 and its 200-day moving average price is $119.21. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.29 and a current ratio of 0.36. Prologis, Inc. has a one year low of $96.64 and a one year high of $137.52. The firm has a market cap of $118.26 billion, a P/E ratio of 37.35, a P/E/G ratio of 3.02 and a beta of 1.06.

Prologis (NYSE:PLD) last issued its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.92 EPS 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 company had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the prior year, the company posted $1.83 earnings per share. The business’s revenue was down 18.1% compared to the same quarter last year. As a group, equities research analysts predict that Prologis, Inc. will post 5.43 EPS for the current 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.