Atlantic Union Bankshares Corp Takes Position in Prologis, Inc. (NYSE:PLD)

Atlantic Union Bankshares Corp bought a new position in Prologis, Inc. (NYSE:PLD - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,048 shares of the real estate investment trust's stock, valued at approximately $230,000.

A number of other institutional investors also recently modified their holdings of the stock. Valeo Financial Advisors LLC raised its position in Prologis by 182,067.2% during the first quarter. Valeo Financial Advisors LLC now owns 48,877,279 shares of the real estate investment trust's stock valued at $6,364,799,000 after acquiring an additional 48,850,448 shares in the last quarter. Norges Bank bought a new position in shares of Prologis during the 4th quarter valued at $1,074,648,000. Capital World Investors lifted its stake in shares of 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 valued at $973,834,000 after purchasing an additional 6,765,582 shares during the last quarter. Swedbank AB acquired a new stake in shares of Prologis in the 1st quarter valued at $596,614,000. Finally, Alphinity Investment Management Pty Ltd bought a new stake in Prologis in the first quarter worth $465,659,000. Institutional investors and hedge funds own 93.50% of the company's stock.

Prologis Price Performance

Shares of NYSE:PLD traded up $2.88 during midday trading on Friday, reaching $128.86. The company's stock had a trading volume of 2,938,701 shares, compared to its average volume of 3,666,829. The business's fifty day simple moving average is $119.24 and its 200-day simple moving average is $119.23. The company has a market capitalization of $119.30 billion, a P/E ratio of 37.68, a P/E/G ratio of 3.02 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 0.29. Prologis, Inc. has a fifty-two week low of $96.64 and a fifty-two week high of $137.52.

Prologis (NYSE:PLD - Get Free Report) last posted 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 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%. Prologis's revenue was down 18.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.83 EPS. As a group, equities research analysts expect that Prologis, Inc. will post 5.43 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Scotiabank boosted their price target on Prologis from $130.00 to $135.00 and gave the stock a "sector outperform" rating in a research report on Wednesday, August 7th. StockNews.com upgraded Prologis from a "sell" rating to a "hold" rating in a report on Thursday, July 18th. The Goldman Sachs Group upped 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. Evercore ISI dropped their price target on shares of Prologis from $123.00 to $122.00 and set an "in-line" rating on the stock in a research report on Tuesday. Finally, Robert W. Baird decreased their price objective on shares of Prologis from $137.00 to $117.00 and set a "neutral" rating for the company in a report on Wednesday, May 1st. Seven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Prologis currently has a consensus rating of "Moderate Buy" and an average target price 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.