Premier Path Wealth Partners LLC Reduces Stock Holdings in Prologis, Inc. (NYSE:PLD)

Premier Path Wealth Partners LLC reduced its holdings in Prologis, Inc. (NYSE:PLD) by 20.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,984 shares of the real estate investment trust’s stock after selling 1,276 shares during the period. Premier Path Wealth Partners LLC’s holdings in Prologis were worth $560,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. CVA Family Office LLC lifted its position in shares of Prologis by 21.4% during the first quarter. CVA Family Office LLC now owns 534 shares of the real estate investment trust’s stock worth $70,000 after purchasing an additional 94 shares in the last quarter. Tiemann Investment Advisors LLC raised its holdings in Prologis by 2.4% in the first quarter. Tiemann Investment Advisors LLC now owns 4,218 shares of the real estate investment trust’s stock valued at $549,000 after acquiring an additional 100 shares in the last quarter. M&G Plc raised its holdings in Prologis by 3.4% in the second quarter. M&G Plc now owns 3,010 shares of the real estate investment trust’s stock valued at $337,000 after acquiring an additional 100 shares in the last quarter. Haverford Trust Co raised its holdings in Prologis by 4.7% in the first quarter. Haverford Trust Co now owns 2,282 shares of the real estate investment trust’s stock valued at $297,000 after acquiring an additional 102 shares in the last quarter. Finally, CX Institutional raised its holdings in Prologis by 3.3% in the second quarter. CX Institutional now owns 3,259 shares of the real estate investment trust’s stock valued at $366,000 after acquiring an additional 105 shares in the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Stock Performance

PLD traded up $2.88 during trading on Friday, hitting $128.86. The stock had a trading volume of 2,938,701 shares, compared to its average volume of 3,666,829. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.29 and a current ratio of 0.36. The firm has a market capitalization of $119.30 billion, a P/E ratio of 37.67, a PEG ratio of 3.02 and a beta of 1.06. The company’s 50-day moving average price is $119.24 and its 200 day moving average price is $119.31. Prologis, Inc. has a twelve month low of $96.64 and a twelve month high of $137.52.

Prologis (NYSE:PLD) last posted its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share 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 for the quarter, compared to analyst estimates of $1.86 billion. During the same period last year, the company earned $1.83 earnings per share. The business’s revenue for the quarter was down 18.1% compared to the same quarter last year. On average, equities research analysts forecast that Prologis, Inc. will post 5.43 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on PLD. StockNews.com raised shares of Prologis from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Robert W. Baird reduced their target price on shares of Prologis from $137.00 to $117.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Morgan Stanley raised their target price on shares of Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. Truist Financial raised their price objective on shares of Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Finally, Mizuho cut their price objective on shares of Prologis from $130.00 to $120.00 and set a “neutral” rating on the stock in a report on Friday, May 31st. Seven 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 company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $131.75.

Prologis 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.