Arkadios Wealth Advisors Raises Stake in Prologis, Inc. (NYSE:PLD)

Arkadios Wealth Advisors boosted its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 90.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,335 shares of the real estate investment trust's stock after purchasing an additional 6,320 shares during the period. Arkadios Wealth Advisors' holdings in Prologis were worth $1,498,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of PLD. Nordea Investment Management AB grew its stake in shares of Prologis by 380.0% during the first quarter. Nordea Investment Management AB now owns 333,022 shares of the real estate investment trust's stock valued at $43,046,000 after purchasing an additional 263,649 shares during the last quarter. Janney Capital Management LLC boosted its position in Prologis by 18.8% in the 4th 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 last quarter. Swedbank AB boosted its position 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. increased its stake in shares of Prologis by 36.1% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 162,990 shares of the real estate investment trust's stock valued at $18,305,000 after buying an additional 43,235 shares during the period. Finally, Atalanta Sosnoff Capital LLC bought a new stake in shares of Prologis during the fourth quarter worth $18,551,000. Institutional investors own 93.50% of the company's stock.

Prologis Stock Down 1.2 %

NYSE PLD traded down $1.57 during trading hours on Thursday, reaching $125.33. 2,419,773 shares of the company's stock were exchanged, compared to its average volume of 3,634,350. 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 company has a market capitalization of $116.04 billion, a price-to-earnings ratio of 36.65, a price-to-earnings-growth ratio of 3.02 and a beta of 1.06. The company's 50-day moving average is $120.31 and its two-hundred day moving average is $119.17. Prologis, Inc. has a one year low of $96.64 and a one year high of $137.52.

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

Insider Buying and Selling at Prologis

In other Prologis 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 value of $671,164.00. Following the sale, the executive now owns 13,187 shares in the company, valued at approximately $1,702,046.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PLD. Royal Bank of Canada cut Prologis from an "outperform" rating to a "sector perform" rating and raised their price target for the company from $124.00 to $127.00 in a report on Monday, August 5th. Truist Financial lifted their price target 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. Bank of America reissued a "neutral" rating and set a $128.00 price target on shares of Prologis in a research note on Monday, August 12th. Robert W. Baird reduced their price objective on shares of Prologis from $137.00 to $117.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 1st. Finally, BMO Capital Markets reiterated a "market perform" rating and set a $115.00 target price on shares of Prologis in a research report on Monday, July 15th. Seven equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Prologis currently has a consensus rating of "Moderate Buy" and an average 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.