Prologis, Inc. (NYSE:PLD) Shares Acquired by Oakworth Capital Inc.

Oakworth Capital Inc. increased its position in shares of Prologis, Inc. (NYSE:PLD) by 417.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 502 shares of the real estate investment trust’s stock after purchasing an additional 405 shares during the period. Oakworth Capital Inc.’s holdings in Prologis were worth $56,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Optimum Investment Advisors purchased a new position in Prologis in the first quarter valued at about $26,000. True Wealth Design LLC purchased a new position in shares of Prologis in the 4th quarter valued at $27,000. Central Valley Advisors LLC purchased a new position in shares of Prologis in the 2nd quarter valued at $29,000. JFS Wealth Advisors LLC raised its stake in shares of Prologis by 254.5% in the 4th quarter. JFS Wealth Advisors LLC now owns 234 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 168 shares during the period. Finally, Clear Investment Research LLC increased its stake 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 worth $32,000 after buying an additional 158 shares during the period. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Price Performance

Shares of PLD traded down $1.92 during mid-day trading on Friday, hitting $122.85. 2,899,167 shares of the company traded hands, compared to its average volume of 3,709,659. Prologis, Inc. has a one year low of $96.64 and a one year high of $137.52. The company has a current ratio of 0.36, a quick ratio of 0.29 and a debt-to-equity ratio of 0.52. The business has a 50-day moving average of $117.88 and a 200 day moving average of $119.34. The stock has a market capitalization of $113.74 billion, a price-to-earnings ratio of 35.92, a PEG ratio of 3.02 and a beta of 1.06.

Prologis (NYSE:PLD) last announced its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share (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 the consensus estimate of $1.86 billion. During the same period in the previous year, the business posted $1.83 earnings per share. Prologis’s revenue was down 18.1% compared to the same quarter last year. As a group, equities analysts expect that Prologis, Inc. will post 5.43 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on PLD shares. Bank of America reissued a “neutral” rating and issued a $128.00 target price on shares of Prologis in a research report on Monday, August 12th. JPMorgan Chase & Co. reduced their price target 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 downgraded shares of Prologis from an “outperform” rating to a “sector perform” rating and boosted their target price for the stock from $124.00 to $127.00 in a report on Monday, August 5th. Mizuho dropped their target price 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. Finally, Argus boosted their price objective on shares of Prologis from $120.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Seven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $131.81.

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.