NewEdge Wealth LLC Acquires Shares of 11,978 Prologis, Inc. $PLD

NewEdge Wealth LLC bought a new position in shares of Prologis, Inc. (NYSE:PLD) during the second quarter, HoldingsChannel.com reports. The firm bought 11,978 shares of the real estate investment trust’s stock, valued at approximately $1,623,000.

Several other hedge funds also recently made changes to their positions in PLD. High Point Wealth Management LLC acquired a new stake in shares of Prologis in the fourth quarter valued at approximately $26,000. Ares Financial Consulting LLC acquired a new stake in Prologis during the fourth quarter worth approximately $26,000. Clearstead Trust LLC bought a new position in Prologis during the 2nd quarter worth $28,000. SouthState Bank Corp increased its stake in Prologis by 73.1% during the 4th quarter. SouthState Bank Corp now owns 225 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 95 shares during the period. Finally, Hilton Head Capital Partners LLC acquired a new position in Prologis in the 4th quarter valued at $29,000. 93.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. BMO Capital Markets cut their target price on Prologis from $162.00 to $158.00 and set an “outperform” rating for the company in a research report on Monday, June 29th. Wall Street Zen raised shares of Prologis from a “sell” rating to a “hold” rating in a research report on Saturday, July 18th. Morgan Stanley increased their price objective on shares of Prologis from $135.00 to $151.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 26th. Truist Financial raised their target price on shares of Prologis from $154.00 to $162.00 and gave the company a “buy” rating in a report on Tuesday, July 21st. Finally, Barclays boosted their target price on shares of Prologis from $139.00 to $156.00 and gave the company an “overweight” rating in a research report on Thursday, July 16th. Sixteen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, Prologis presently has a consensus rating of “Moderate Buy” and a consensus target price of $154.57.

Prologis Trading Up 0.8%

Shares of PLD opened at $141.77 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.70 and a current ratio of 0.70. Prologis, Inc. has a 52-week low of $109.14 and a 52-week high of $153.35. The firm has a market cap of $132.28 billion, a price-to-earnings ratio of 31.57 and a beta of 1.31. The business’s fifty day moving average is $142.53 and its 200-day moving average is $140.29.

Prologis (NYSE:PLD) last announced its quarterly earnings data on Thursday, July 16th. The real estate investment trust reported $1.13 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.38. The business had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.16 billion. Prologis had a return on equity of 7.29% and a net margin of 45.79%.Prologis’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.46 EPS. Prologis has set its FY 2026 guidance at 6.220-6.300 EPS. Equities analysts anticipate that Prologis, Inc. will post 6.28 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Timothy D. Arndt sold 3,597 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $150.00, for a total value of $539,550.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.52% of the company’s stock.

About Prologis

Prologis, Inc is a real estate investment trust (REIT) specializing in logistics and distribution facilities. The company focuses on acquiring, developing, and managing high-quality industrial real estate assets that support supply chain infrastructure for third-party logistics providers, e-commerce businesses, retailers and manufacturers. Its portfolio primarily consists of warehouse and distribution centers designed to optimize goods movement and storage near key transportation hubs.

With a global presence, Prologis serves customers across the Americas, Europe and Asia Pacific.