Verdence Capital Advisors LLC Grows Holdings in Prologis, Inc. (NYSE:PLD)

Verdence Capital Advisors LLC boosted its position in Prologis, Inc. (NYSE:PLD - Free Report) by 91.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,450 shares of the real estate investment trust's stock after buying an additional 2,127 shares during the quarter. Verdence Capital Advisors LLC's holdings in Prologis were worth $500,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Optimum Investment Advisors purchased a new position in Prologis in the first quarter valued at about $26,000. True Wealth Design LLC purchased a new position in shares of Prologis during the 4th quarter valued at approximately $27,000. Central Valley Advisors LLC purchased a new position in shares of Prologis during the 2nd quarter valued at approximately $29,000. JFS Wealth Advisors LLC grew its position in shares of Prologis by 254.5% during the fourth quarter. JFS Wealth Advisors LLC now owns 234 shares of the real estate investment trust's stock worth $31,000 after buying an additional 168 shares in the last quarter. Finally, Clear Investment Research LLC increased its stake in shares of Prologis by 188.1% in the fourth quarter. Clear Investment Research LLC now owns 242 shares of the real estate investment trust's stock worth $32,000 after buying an additional 158 shares during the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PLD has been the topic of a number of research analyst reports. Truist Financial increased their price objective on shares of Prologis from $125.00 to $137.00 and gave the company a "buy" rating in a research note on Monday, August 5th. Argus boosted their price objective on Prologis from $120.00 to $135.00 and gave the company a "buy" rating in a report on Tuesday, July 23rd. Robert W. Baird reduced their target price on Prologis from $137.00 to $117.00 and set a "neutral" rating on the stock in a report on Wednesday, May 1st. The Goldman Sachs Group upped their price target on Prologis from $140.00 to $156.00 and gave the company a "buy" rating in a research report on Thursday, July 25th. Finally, Royal Bank of Canada lowered shares of Prologis from an "outperform" rating to a "sector perform" rating and boosted their target price for the company from $124.00 to $127.00 in a research note on Monday, August 5th. 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 company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $132.19.

Insiders Place Their Bets

In related news, CIO Joseph Ghazal sold 5,200 shares of the business's stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $129.07, for a total transaction of $671,164.00. Following the sale, the executive now owns 13,187 shares of the company's stock, valued at $1,702,046.09. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.50% of the stock is owned by insiders.

Prologis Stock Performance

Shares of NYSE PLD traded up $0.02 during midday trading on Monday, hitting $128.88. 2,278,649 shares of the company's stock were exchanged, compared to its average volume of 3,658,372. Prologis, Inc. has a twelve month low of $96.64 and a twelve month high of $137.52. The firm has a market cap of $119.32 billion, a P/E ratio of 37.68, a PEG ratio of 3.02 and a beta of 1.06. The stock's 50 day moving average price is $119.59 and its 200-day moving average price is $119.14. 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 (NYSE:PLD - Get Free Report) 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). Prologis had a return on equity of 4.88% and a net margin of 36.37%. The business had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the previous year, the company posted $1.83 EPS. The company's revenue for the quarter was down 18.1% compared to the same quarter last year. Equities research analysts anticipate that Prologis, Inc. will post 5.43 EPS 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.

Want to see what other hedge funds are holding PLD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Prologis, Inc. (NYSE:PLD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.