Western Wealth Management LLC lowered its holdings in Prologis, Inc. (NYSE:PLD – Free Report) by 66.6% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,690 shares of the real estate investment trust’s stock after selling 9,353 shares during the period. Western Wealth Management LLC’s holdings in Prologis were worth $527,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Optimum Investment Advisors acquired a new stake in shares of Prologis in the first quarter valued at approximately $26,000. True Wealth Design LLC acquired a new position in Prologis in the fourth quarter worth approximately $27,000. Central Valley Advisors LLC acquired a new position in Prologis in the 2nd quarter worth approximately $29,000. JFS Wealth Advisors LLC boosted its stake in Prologis by 254.5% in the 4th quarter. JFS Wealth Advisors LLC now owns 234 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 168 shares during the period. Finally, Clear Investment Research LLC boosted its stake in Prologis by 188.1% in the 4th quarter. Clear Investment Research LLC now owns 242 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 158 shares during the period. Institutional investors own 93.50% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research firms recently commented on PLD. Evercore ISI raised their price objective on shares of Prologis from $119.00 to $123.00 and gave the stock an ‘in-line’ rating in a research note on Thursday, July 18th. The Goldman Sachs Group raised their price objective on shares of Prologis from $140.00 to $156.00 and gave the stock a ‘buy’ rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. decreased their target price on shares of Prologis from $143.00 to $128.00 and set an ‘overweight’ rating for the company in a research note on Thursday, April 25th. Royal Bank of Canada lowered shares of Prologis from an ‘outperform’ rating to a ‘sector perform’ rating and lifted their target price for the company from $124.00 to $127.00 in a research note on Monday, August 5th. Finally, Bank of America reissued a ‘neutral’ rating and set a $128.00 target price on shares of Prologis in a research note on Monday, August 12th. Seven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of ‘Moderate Buy’ and a consensus price target of $131.81.
Prologis Stock Up 1.5 %
PLD stock opened at $124.72 on Tuesday. The company has a current ratio of 0.36, a quick ratio of 0.29 and a debt-to-equity ratio of 0.52. Prologis, Inc. has a 1 year low of $96.64 and a 1 year high of $137.52. The company has a fifty day simple moving average of $118.15 and a 200 day simple moving average of $119.25. The firm has a market cap of $115.47 billion, a PE ratio of 36.47, a PEG ratio of 3.02 and a beta of 1.06.
Prologis (NYSE:PLD – Get Free Report) last announced its earnings results 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). The firm had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.86 billion. Prologis had a return on equity of 4.88% and a net margin of 36.37%. The business’s revenue was down 18.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.83 EPS. Sell-side analysts anticipate that Prologis, Inc. will post 5.43 EPS for the current fiscal year.
About Prologis
(Free Report)
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.
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