O ROURKE & COMPANY Inc Reduces Stock Position in Prologis, Inc. (NYSE:PLD)

O ROURKE & COMPANY Inc cut its stake in Prologis, Inc. (NYSE:PLD) by 18.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,329 shares of the real estate investment trust’s stock after selling 515 shares during the period. O ROURKE & COMPANY Inc’s holdings in Prologis were worth $262,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in 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 stake in shares of Prologis in the fourth quarter valued at approximately $27,000. Central Valley Advisors LLC acquired a new stake in shares of Prologis in the second quarter valued at approximately $29,000. JFS Wealth Advisors LLC grew its position in shares of Prologis by 254.5% in the fourth quarter. JFS Wealth Advisors LLC now owns 234 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 168 shares during the last quarter. Finally, Clear Investment Research LLC grew its position in shares of Prologis by 188.1% in the fourth quarter. Clear Investment Research LLC now owns 242 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 158 shares during the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Trading Down 1.5 %

NYSE:PLD traded down $1.90 during trading hours on Friday, reaching $122.87. 2,898,966 shares of the company were exchanged, compared to its average volume of 3,709,659. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.36 and a quick ratio of 0.29. The firm has a market cap of $113.76 billion, a price-to-earnings ratio of 35.93, a PEG ratio of 3.02 and a beta of 1.06. Prologis, Inc. has a 52-week low of $96.64 and a 52-week high of $137.52. The stock has a 50 day simple moving average of $117.88 and a 200 day simple moving average of $119.39.

Prologis (NYSE:PLD) last issued its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 EPS for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.41). Prologis had a net margin of 36.37% and a return on equity of 4.88%. The business had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same period in the prior year, the business posted $1.83 EPS. The business’s revenue was down 18.1% on a year-over-year basis. As a group, analysts predict that Prologis, Inc. will post 5.43 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Truist Financial increased their price target on shares of Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a research report on Monday, August 5th. The Goldman Sachs Group increased their price target on shares of Prologis from $140.00 to $156.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Bank of America restated a “neutral” rating and set a $128.00 target price on shares of Prologis in a research report on Monday. StockNews.com upgraded shares of Prologis from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. Finally, Morgan Stanley raised their target price on shares of Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a research report on Wednesday. Seven investment 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.81.

Prologis Company 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.