Westpac Banking Corp Makes New Investment in Prologis, Inc. $PLD

Westpac Banking Corp purchased a new stake in Prologis, Inc. (NYSE:PLD) during the 2nd quarter, Holdings Channel reports. The firm purchased 66,458 shares of the real estate investment trust’s stock, valued at approximately $9,003,000.

A number of other hedge funds have also modified their holdings of the business. Ares Financial Consulting LLC purchased a new stake in Prologis in the 4th quarter valued at approximately $26,000. High Point Wealth Management LLC purchased a new position in Prologis during the fourth quarter worth $26,000. Clearstead Trust LLC purchased a new position in Prologis during the second quarter worth $28,000. Johnson Financial Group Inc. acquired a new position in shares of Prologis in the second quarter worth $29,000. Finally, SouthState Bank Corp raised its holdings in shares of Prologis by 73.1% in the fourth 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 last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Truist Financial increased their price objective on Prologis from $154.00 to $162.00 and gave the company a “buy” rating in a research note on Tuesday, July 21st. Weiss Ratings raised shares of Prologis from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, August 12th. BMO Capital Markets reduced their target price on shares of Prologis from $162.00 to $158.00 and set an “outperform” rating on the stock in a report on Monday, June 29th. Royal Bank Of Canada upgraded shares of Prologis from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $148.00 to $160.00 in a report on Tuesday, August 4th. Finally, Scotiabank raised their price target on shares of Prologis from $146.00 to $150.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 23rd. Sixteen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Prologis has an average rating of “Moderate Buy” and a consensus price target of $154.57.

Insiders Place Their Bets

In other Prologis news, CFO Timothy D. Arndt sold 3,597 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $150.00, for a total value of $539,550.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.52% of the company’s stock.

Prologis Trading Up 0.8%

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

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

Prologis Profile

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.