Independence Bank of Kentucky Boosts Stock Holdings in Prologis, Inc. (NYSE:PLD)

Independence Bank of Kentucky boosted its stake in shares of Prologis, Inc. (NYSE:PLD) by 162.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,470 shares of the real estate investment trust’s stock after acquiring an additional 2,150 shares during the period. Independence Bank of Kentucky’s holdings in Prologis were worth $390,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Community Financial Services Group LLC grew its stake in Prologis by 51.6% during the second quarter. Community Financial Services Group LLC now owns 51,825 shares of the real estate investment trust’s stock valued at $5,820,000 after acquiring an additional 17,632 shares in the last quarter. Sterling Investment Counsel LLC grew its stake in shares of Prologis by 1.4% in the 2nd quarter. Sterling Investment Counsel LLC now owns 10,033 shares of the real estate investment trust’s stock worth $1,127,000 after buying an additional 139 shares in the last quarter. Ceredex Value Advisors LLC purchased a new position in shares of Prologis in the 2nd quarter worth $34,879,000. Fullcircle Wealth LLC purchased a new position in shares of Prologis in the 2nd quarter worth $1,391,000. Finally, Cape ANN Savings Bank grew its stake in shares of Prologis by 59.6% in the 2nd quarter. Cape ANN Savings Bank now owns 2,735 shares of the real estate investment trust’s stock worth $307,000 after buying an additional 1,021 shares in the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Stock Up 2.3 %

Shares of Prologis stock opened at $128.86 on Monday. The firm’s 50 day moving average price is $119.24 and its 200-day moving average price is $119.16. The company has a quick ratio of 0.29, a current ratio of 0.36 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 company has a market cap of $119.30 billion, a P/E ratio of 37.68, a PEG 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 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 in the previous year, the firm earned $1.83 EPS. The firm’s quarterly revenue was down 18.1% on a year-over-year basis. On average, sell-side analysts predict that Prologis, Inc. will post 5.43 EPS for the current fiscal year.

Analyst Ratings Changes

PLD has been the subject of a number of recent research reports. Barclays lifted their price objective on shares of Prologis from $123.00 to $142.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Argus raised their target price on shares of Prologis from $120.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. The Goldman Sachs Group raised their target price on shares of Prologis from $140.00 to $156.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Mizuho lowered their target price on shares of Prologis from $130.00 to $120.00 and set a “neutral” rating for the company in a report on Friday, May 31st. Finally, Bank of America restated 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, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Prologis presently has a consensus rating of “Moderate Buy” and an average target price of $131.75.

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.