Avitas Wealth Management LLC Acquires 7,366 Shares of Prologis, Inc. (NYSE:PLD)

Avitas Wealth Management LLC raised its holdings in Prologis, Inc. (NYSE:PLD) by 26.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 35,388 shares of the real estate investment trust’s stock after buying an additional 7,366 shares during the quarter. Avitas Wealth Management LLC’s holdings in Prologis were worth $3,974,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Optimum Investment Advisors bought a new position in Prologis in the 1st quarter worth $26,000. True Wealth Design LLC purchased a new position in shares of Prologis during the fourth quarter valued at about $27,000. Central Valley Advisors LLC bought a new position in Prologis in the second quarter worth about $29,000. JFS Wealth Advisors LLC lifted its holdings in Prologis by 254.5% in the fourth quarter. JFS Wealth Advisors LLC now owns 234 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 168 shares during the period. Finally, Clear Investment Research LLC boosted its position in Prologis by 188.1% during the 4th quarter. Clear Investment Research LLC now owns 242 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 158 shares in the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Stock Performance

Shares of PLD stock traded up $2.86 during mid-day trading on Friday, reaching $128.84. 2,937,477 shares of the company’s stock traded hands, compared to its average volume of 3,666,829. Prologis, Inc. has a 12 month low of $96.64 and a 12 month high of $137.52. The firm has a 50 day moving average price of $119.24 and a two-hundred day moving average price of $119.31. The firm has a market capitalization of $119.29 billion, a PE ratio of 37.67, a price-to-earnings-growth ratio of 3.02 and a beta of 1.06. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.29 and a current ratio of 0.36.

Prologis (NYSE:PLD) last issued its quarterly 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 return on equity of 4.88% and a net margin of 36.37%. The company had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter in the previous year, the company earned $1.83 EPS. The business’s quarterly revenue was down 18.1% compared to the same quarter last year. On average, research analysts forecast that Prologis, Inc. will post 5.43 EPS for the current year.

Wall Street Analyst Weigh In

PLD has been the subject of a number of research reports. JPMorgan Chase & Co. decreased their price objective on Prologis from $143.00 to $128.00 and set an “overweight” rating for the company in a report on Thursday, April 25th. Royal Bank of Canada cut shares of Prologis from an “outperform” rating to a “sector perform” rating and lifted their price target for the company from $124.00 to $127.00 in a research report on Monday, August 5th. Robert W. Baird decreased their target price on shares of Prologis from $137.00 to $117.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. Scotiabank boosted their price target on Prologis from $130.00 to $135.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, August 7th. Finally, Truist Financial raised their price objective on Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Seven investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $131.75.

About Prologis

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.