Sigma Investment Counselors Inc. Has $3.50 Million Position in Prologis, Inc. (NYSE:PLD)

Sigma Investment Counselors Inc. lessened its stake in shares of Prologis, Inc. (NYSE:PLD) by 2.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 31,199 shares of the real estate investment trust’s stock after selling 766 shares during the period. Sigma Investment Counselors Inc.’s holdings in Prologis were worth $3,504,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in PLD. Calamos Wealth Management LLC increased its position in shares of Prologis by 4,745.9% during the 2nd quarter. Calamos Wealth Management LLC now owns 104,672 shares of the real estate investment trust’s stock valued at $11,756,000 after purchasing an additional 102,512 shares during the last quarter. Independence Bank of Kentucky lifted its holdings in shares of Prologis by 162.9% in the second quarter. Independence Bank of Kentucky now owns 3,470 shares of the real estate investment trust’s stock worth $390,000 after buying an additional 2,150 shares in the last quarter. Community Financial Services Group LLC grew its position in shares of Prologis by 51.6% during the 2nd quarter. Community Financial Services Group LLC now owns 51,825 shares of the real estate investment trust’s stock valued at $5,820,000 after purchasing an additional 17,632 shares in the last quarter. Sterling Investment Counsel LLC grew its position in Prologis by 1.4% during the second quarter. Sterling Investment Counsel LLC now owns 10,033 shares of the real estate investment trust’s stock worth $1,127,000 after buying an additional 139 shares in the last quarter. Finally, Ceredex Value Advisors LLC bought a new position in shares of Prologis in the second quarter worth approximately $34,879,000. Institutional investors own 93.50% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on PLD. StockNews.com raised shares of Prologis from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. The Goldman Sachs Group boosted their target price on Prologis from $140.00 to $156.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Robert W. Baird cut their target price on Prologis from $137.00 to $117.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. Truist Financial upped their price target 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, Morgan Stanley upped their price objective on shares of Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. Seven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $131.75.

Prologis Stock Up 2.3 %

Shares of PLD stock traded up $2.88 on Friday, reaching $128.86. 2,938,701 shares of the company’s stock traded hands, compared to its average volume of 3,666,829. The company has a market capitalization of $119.30 billion, a P/E ratio of 37.68, a price-to-earnings-growth ratio of 3.02 and a beta of 1.06. Prologis, Inc. has a 12-month low of $96.64 and a 12-month high of $137.52. 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 business’s 50 day moving average price is $119.24 and its two-hundred day moving average price is $119.23.

Prologis (NYSE:PLD) last released its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.41). The company had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.86 billion. Prologis had a return on equity of 4.88% and a net margin of 36.37%. The business’s revenue was down 18.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.83 EPS. On average, equities analysts forecast that Prologis, Inc. will post 5.43 earnings per share for the current year.

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.