Dover Advisors LLC Makes New $485,000 Investment in Prologis, Inc. (NYSE:PLD)

Dover Advisors LLC bought a new stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 4,316 shares of the real estate investment trust's stock, valued at approximately $485,000.

Other large investors have also modified their holdings of the company. Nordea Investment Management AB lifted its stake in shares of Prologis by 380.0% during 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 during the last quarter. Janney Capital Management LLC raised its holdings in 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 worth $3,182,000 after purchasing an additional 3,773 shares in the last quarter. Swedbank AB lifted its position in shares of Prologis by 9.2% during the second 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 holdings 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 in the last quarter. Finally, Atalanta Sosnoff Capital LLC purchased a new position in shares of Prologis in the 4th quarter worth approximately $18,551,000. Institutional investors own 93.50% of the company's stock.

Wall Street Analyst Weigh In

PLD has been the subject of several recent analyst reports. Bank of America restated a "neutral" rating and issued a $128.00 target price on shares of Prologis in a research note on Monday, August 12th. Wells Fargo & Company boosted their target price on Prologis from $142.00 to $146.00 and gave the stock an "overweight" rating in a research note on Wednesday. Morgan Stanley increased their price target on Prologis from $132.00 to $133.00 and gave the company an "overweight" rating in a research note on Wednesday, August 14th. Evercore ISI upped their price objective on shares of Prologis from $122.00 to $124.00 and gave the company an "in-line" rating in a report on Wednesday. Finally, The Goldman Sachs Group boosted their target price on shares of Prologis from $140.00 to $156.00 and gave the stock a "buy" rating in a research report on Thursday, July 25th. Seven analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Prologis currently has an average rating of "Moderate Buy" and an average target price of $133.12.

Insider Buying and Selling

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of Prologis stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $129.07, for a total value of $671,164.00. Following the completion of the transaction, the executive now owns 13,187 shares of the company's stock, valued at $1,702,046.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.50% of the stock is currently owned by insiders.

Prologis Stock Performance

Shares of NYSE PLD traded up $2.49 during trading on Friday, reaching $127.82. 3,618,100 shares of the company traded hands, compared to its average volume of 3,634,252. The stock has a market cap of $118.34 billion, a P/E ratio of 37.37, a PEG ratio of 3.02 and a beta of 1.06. The firm's fifty day simple moving average is $121.00 and its 200 day simple moving average is $119.18. The company has a current ratio of 0.36, a quick ratio of 0.29 and a debt-to-equity ratio of 0.52. Prologis, Inc. has a 12-month low of $96.64 and a 12-month high of $137.52.

Prologis (NYSE:PLD - Get Free Report) last announced its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share for the quarter, missing the consensus estimate of $1.33 by ($0.41). Prologis had a net margin of 36.37% and a return on equity of 4.88%. The company had revenue of $2.01 billion for the quarter, compared to analysts' expectations of $1.86 billion. During the same quarter in the prior year, the business posted $1.83 earnings per share. The firm's revenue was down 18.1% compared to the same quarter last year. As a group, research analysts anticipate that Prologis, Inc. will post 5.43 earnings per share for the current fiscal 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.