RFG Advisory LLC Purchases 1,870 Shares of Prologis, Inc. (NYSE:PLD)

RFG Advisory LLC increased its position in Prologis, Inc. (NYSE:PLD) by 11.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,746 shares of the real estate investment trust’s stock after acquiring an additional 1,870 shares during the quarter. RFG Advisory LLC’s holdings in Prologis were worth $1,993,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. Valeo Financial Advisors LLC grew its position in Prologis by 182,067.2% in the 1st quarter. Valeo Financial Advisors LLC now owns 48,877,279 shares of the real estate investment trust’s stock worth $6,364,799,000 after purchasing an additional 48,850,448 shares during the last quarter. Norges Bank acquired a new stake in Prologis in the 4th quarter worth $1,074,648,000. Capital World Investors grew its position in Prologis by 1,252.9% in the 4th quarter. Capital World Investors now owns 7,305,582 shares of the real estate investment trust’s stock worth $973,834,000 after purchasing an additional 6,765,582 shares during the last quarter. Swedbank AB acquired a new stake in Prologis in the 1st quarter worth $596,614,000. Finally, Alphinity Investment Management Pty Ltd acquired a new stake in Prologis in the 1st quarter worth $465,659,000. Institutional investors own 93.50% of the company’s stock.

Prologis Price Performance

Shares of NYSE PLD traded down $2.11 during trading on Monday, reaching $119.79. The company had a trading volume of 1,750,430 shares, compared to its average volume of 3,730,897. Prologis, Inc. has a 52 week low of $96.64 and a 52 week high of $137.52. The stock has a market cap of $110.91 billion, a PE ratio of 34.90, a PEG ratio of 3.02 and a beta of 1.06. 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 $116.51 and its 200-day moving average price is $119.43.

Prologis (NYSE:PLD) last announced its 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 during the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the prior year, the firm posted $1.83 earnings per share. The company’s revenue was down 18.1% on a year-over-year basis. Analysts expect that Prologis, Inc. will post 5.43 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on PLD shares. UBS Group decreased their target price on shares of Prologis from $151.00 to $138.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. Argus lifted their target price 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. Evercore ISI lifted their target price on shares of Prologis from $119.00 to $123.00 and gave the company an “in-line” rating in a research report on Thursday, July 18th. JPMorgan Chase & Co. decreased their target price on shares of Prologis from $143.00 to $128.00 and set an “overweight” rating on the stock in a research report on Thursday, April 25th. Finally, Truist Financial lifted their target price on shares of Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a research report on Monday, August 5th. 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 company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $132.31.

Prologis Company 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.