Avitas Wealth Management LLC Buys 7,366 Shares of Prologis, Inc. (NYSE:PLD)

Avitas Wealth Management LLC grew its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 26.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 35,388 shares of the real estate investment trust's stock after buying an additional 7,366 shares during the quarter. Avitas Wealth Management LLC's holdings in Prologis were worth $3,974,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of PLD. Nordea Investment Management AB increased its holdings in Prologis by 380.0% in the 1st quarter. Nordea Investment Management AB now owns 333,022 shares of the real estate investment trust's stock worth $43,046,000 after purchasing an additional 263,649 shares in the last quarter. Janney Capital Management LLC increased its stake in shares of Prologis by 18.8% in the fourth quarter. Janney Capital Management LLC now owns 23,872 shares of the real estate investment trust's stock valued at $3,182,000 after buying an additional 3,773 shares during the period. Swedbank AB raised its holdings in Prologis by 9.2% in the 2nd quarter. Swedbank AB now owns 5,002,274 shares of the real estate investment trust's stock valued at $561,805,000 after buying an additional 420,687 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in Prologis by 36.1% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 162,990 shares of the real estate investment trust's stock worth $18,305,000 after buying an additional 43,235 shares during the period. Finally, Atalanta Sosnoff Capital LLC bought a new stake in Prologis during the 4th quarter worth approximately $18,551,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Stock Up 2.3 %

PLD traded up $2.86 during midday trading on Friday, hitting $128.84. The company had a trading volume of 2,937,477 shares, compared to its average volume of 3,666,829. The stock's 50 day moving average price is $119.24 and its 200 day moving average price is $119.31. Prologis, Inc. has a 52 week low of $96.64 and a 52 week high of $137.52. The company has a market capitalization of $119.29 billion, a price-to-earnings ratio of 37.67, a PEG ratio of 3.02 and a beta of 1.06. The company has a quick ratio of 0.29, a current ratio of 0.36 and a debt-to-equity ratio of 0.52.

Prologis (NYSE:PLD - Get Free Report) last issued its earnings results 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 firm had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.86 billion. Prologis had a net margin of 36.37% and a return on equity of 4.88%. The business's quarterly revenue was down 18.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.83 earnings per share. On average, research analysts anticipate that Prologis, Inc. will post 5.43 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Robert W. Baird dropped their price target on shares of Prologis from $137.00 to $117.00 and set a "neutral" rating for the company in a research note on Wednesday, May 1st. Royal Bank of Canada lowered Prologis from an "outperform" rating to a "sector perform" rating and raised their target price for the stock from $124.00 to $127.00 in a research report on Monday, August 5th. Mizuho reduced their price target on Prologis from $130.00 to $120.00 and set a "neutral" rating on the stock in a research report on Friday, May 31st. Morgan Stanley raised their price objective on Prologis from $132.00 to $133.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 14th. Finally, JPMorgan Chase & Co. cut their price objective on Prologis from $143.00 to $128.00 and set an "overweight" rating on the stock in a research note on Thursday, April 25th. Seven 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. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $131.75.

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.

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