Ascent Group LLC Has $1.88 Million Position in Prologis, Inc. (NYSE:PLD)

Ascent Group LLC lowered its position in Prologis, Inc. (NYSE:PLD) by 0.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,906 shares of the real estate investment trust’s stock after selling 98 shares during the quarter. Ascent Group LLC’s holdings in Prologis were worth $1,882,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Semmax Financial Advisors Inc. acquired a new position in shares of Prologis in the second quarter valued at approximately $27,000. American Capital Advisory LLC acquired a new position in shares of Prologis in the second quarter valued at approximately $26,000. Central Valley Advisors LLC acquired a new position in shares of Prologis in the second quarter valued at approximately $29,000. Sunbelt Securities Inc. increased its position in Prologis by 640.0% during the 2nd quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 224 shares during the period. Finally, Wetzel Investment Advisors Inc. acquired a new stake in Prologis during the 2nd quarter valued at approximately $31,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Price Performance

Shares of PLD opened at $115.82 on Tuesday. Prologis, Inc. has a 12-month low of $101.11 and a 12-month high of $137.52. The business’s fifty day moving average is $118.70 and its 200 day moving average is $118.80. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.56. The stock has a market cap of $107.27 billion, a P/E ratio of 34.99, a P/E/G ratio of 3.41 and a beta of 1.08.

Prologis (NYSE:PLD) last issued its earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). Prologis had a return on equity of 5.34% and a net margin of 39.08%. The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter in the prior year, the business earned $1.30 earnings per share. Prologis’s revenue for the quarter was up 6.9% on a year-over-year basis. Sell-side analysts anticipate that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Wells Fargo & Company increased their target price on shares of Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a research report on Wednesday, August 28th. Truist Financial increased their target price on shares of Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Bank of America reissued a “neutral” rating and set a $128.00 target price on shares of Prologis in a research report on Monday, August 12th. The Goldman Sachs Group reissued a “neutral” rating and set a $132.00 target price (down previously from $142.00) on shares of Prologis in a research report on Monday, October 21st. Finally, Evercore ISI increased their target price on shares of Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Eight analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $131.25.

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.