Graypoint LLC Has $401,000 Stock Position in Prologis, Inc. (NYSE:PLD)

Graypoint LLC lessened its holdings in shares of Prologis, Inc. (NYSE:PLD) by 14.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,573 shares of the real estate investment trust’s stock after selling 589 shares during the quarter. Graypoint LLC’s holdings in Prologis were worth $401,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Destination Wealth Management grew its stake in shares of Prologis by 4.7% in the second quarter. Destination Wealth Management now owns 2,033 shares of the real estate investment trust’s stock worth $228,000 after acquiring an additional 92 shares during the last quarter. CVA Family Office LLC grew its holdings in shares of Prologis by 21.4% during the 1st quarter. CVA Family Office LLC now owns 534 shares of the real estate investment trust’s stock worth $70,000 after purchasing an additional 94 shares in the last quarter. Tiemann Investment Advisors LLC increased its position in shares of Prologis by 2.4% during the first quarter. Tiemann Investment Advisors LLC now owns 4,218 shares of the real estate investment trust’s stock valued at $549,000 after purchasing an additional 100 shares during the period. M&G Plc raised its stake in shares of Prologis by 3.4% in the second quarter. M&G Plc now owns 3,010 shares of the real estate investment trust’s stock valued at $337,000 after purchasing an additional 100 shares in the last quarter. Finally, Conning Inc. lifted its position in Prologis by 1.0% in the second quarter. Conning Inc. now owns 10,525 shares of the real estate investment trust’s stock worth $1,182,000 after purchasing an additional 100 shares during the period. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Stock Performance

PLD opened at $127.82 on Monday. Prologis, Inc. has a 52-week low of $96.64 and a 52-week high of $137.52. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.36 and a current ratio of 0.36. The business’s 50-day simple moving average is $121.00 and its 200 day simple moving average is $119.02. The firm has a market capitalization of $118.35 billion, a PE ratio of 37.37, a PEG ratio of 3.28 and a beta of 1.06.

Prologis (NYSE:PLD) last announced its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.41). The business had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.86 billion. Prologis had a return on equity of 4.88% and a net margin of 36.37%. Prologis’s quarterly revenue was down 18.1% compared to the same quarter last year. During the same period last year, the firm earned $1.83 EPS. As a group, sell-side analysts expect that Prologis, Inc. will post 5.42 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have issued reports on PLD. Barclays increased their price objective on Prologis from $123.00 to $142.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Scotiabank raised their price target on Prologis from $135.00 to $142.00 and gave the company a “sector outperform” rating in a report on Monday, August 26th. BMO Capital Markets reissued a “market perform” rating and issued a $115.00 price objective on shares of Prologis in a research note on Monday, July 15th. Argus raised their target price on Prologis from $120.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Finally, Truist Financial upped their target price on shares of Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Seven investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $133.12.

Insider Buying and Selling at Prologis

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of Prologis stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $129.07, for a total value of $671,164.00. Following the completion of the sale, the executive now owns 13,187 shares in the company, valued at approximately $1,702,046.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.50% of the company’s stock.

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.