Ritholtz Wealth Management Sells 827 Shares of Prologis, Inc. (NYSE:PLD)

Ritholtz Wealth Management decreased its holdings in shares of Prologis, Inc. (NYSE:PLD) by 1.9% during the second quarter, HoldingsChannel reports. The fund owned 42,902 shares of the real estate investment trust’s stock after selling 827 shares during the quarter. Ritholtz Wealth Management’s holdings in Prologis were worth $4,818,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Optimum Investment Advisors purchased a new position in shares of Prologis during the 1st quarter valued at $26,000. American Capital Advisory LLC purchased a new position in shares of Prologis during the 2nd quarter valued at $26,000. True Wealth Design LLC purchased a new position in Prologis in the fourth quarter worth $27,000. Central Valley Advisors LLC purchased a new position in Prologis in the second quarter worth $29,000. Finally, JFS Wealth Advisors LLC grew its position 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 acquiring an additional 168 shares in the last quarter. Institutional investors own 93.50% of the company’s stock.

Insiders Place Their Bets

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

Prologis Trading Up 2.0 %

PLD stock traded up $2.49 during trading on Friday, reaching $127.82. The company had a trading volume of 3,618,100 shares, compared to its average volume of 2,840,916. The company has a market cap of $118.35 billion, a P/E ratio of 37.37, a PEG ratio of 3.28 and a beta of 1.06. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.36 and a quick ratio of 0.36. Prologis, Inc. has a 52 week low of $96.64 and a 52 week high of $137.52. The business has a 50 day moving average of $121.00 and a 200 day moving average of $119.10.

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

Analysts Set New Price Targets

Several research analysts recently issued reports on PLD shares. Scotiabank upped their target price on shares of Prologis from $135.00 to $142.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 26th. Bank of America reiterated a “neutral” rating and issued a $128.00 target price on shares of Prologis in a research report on Monday, August 12th. Truist Financial upped their target price on shares of Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Wells Fargo & Company upped their target price on shares of Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Argus upped their target price on shares of Prologis from $120.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Seven analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $133.12.

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.