Prologis, Inc. (NYSE:PLD) Position Boosted by Klingenstein Fields & Co. LP

Klingenstein Fields & Co. LP boosted its position in Prologis, Inc. (NYSE:PLD) by 0.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 186,263 shares of the real estate investment trust’s stock after buying an additional 497 shares during the quarter. Klingenstein Fields & Co. LP’s holdings in Prologis were worth $20,919,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PLD. CIBC Asset Management Inc increased its holdings in shares of Prologis by 2.6% in the 2nd quarter. CIBC Asset Management Inc now owns 168,963 shares of the real estate investment trust’s stock valued at $18,976,000 after acquiring an additional 4,320 shares during the last quarter. Guidance Capital Inc. boosted its holdings in Prologis by 11.1% in the second quarter. Guidance Capital Inc. now owns 5,440 shares of the real estate investment trust’s stock worth $611,000 after purchasing an additional 542 shares during the period. Mechanics Financial Corp increased its stake in Prologis by 68.4% during the second quarter. Mechanics Financial Corp now owns 5,251 shares of the real estate investment trust’s stock valued at $590,000 after purchasing an additional 2,132 shares during the last quarter. Crestwood Advisors Group LLC increased its stake in Prologis by 19.6% during the second quarter. Crestwood Advisors Group LLC now owns 2,056 shares of the real estate investment trust’s stock valued at $231,000 after purchasing an additional 337 shares during the last quarter. Finally, Financial Counselors Inc. lifted its position in shares of Prologis by 21.8% in the 2nd quarter. Financial Counselors Inc. now owns 130,144 shares of the real estate investment trust’s stock worth $14,616,000 after buying an additional 23,257 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Price Performance

Prologis stock traded up $2.49 during trading hours on Monday, hitting $127.82. 3,618,100 shares of the company traded hands, compared to its average volume of 3,634,253. Prologis, Inc. has a 1-year low of $96.64 and a 1-year high of $137.52. The firm has a market cap of $118.35 billion, a P/E ratio of 37.37, a P/E/G ratio of 3.28 and a beta of 1.06. The firm’s 50-day simple moving average is $121.00 and its two-hundred day simple moving average is $119.02. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.52.

Prologis (NYSE:PLD) last posted its quarterly earnings data 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). The company had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.86 billion. Prologis had a net margin of 36.37% and a return on equity of 4.88%. Prologis’s revenue was down 18.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.83 EPS. As a group, analysts forecast that Prologis, Inc. will post 5.42 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PLD has been the subject of several research reports. Wells Fargo & Company boosted their price objective on shares of Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a research report on Wednesday, August 28th. Scotiabank lifted their target price on Prologis from $135.00 to $142.00 and gave the company a “sector outperform” rating in a research note on Monday, August 26th. Truist Financial increased their price target on Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. BMO Capital Markets restated a “market perform” rating and set a $115.00 price objective on shares of Prologis in a research report on Monday, July 15th. Finally, Barclays upped their price objective on Prologis from $123.00 to $142.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Seven investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $133.12.

Insider Activity

In other news, CIO Joseph Ghazal sold 5,200 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $129.07, for a total value of $671,164.00. Following the completion of the sale, the executive now owns 13,187 shares in the company, valued at $1,702,046.09. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.50% of the stock is owned by insiders.

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.