Panagora Asset Management Inc. Sells 9,756 Shares of Prologis, Inc. (NYSE:PLD)

Panagora Asset Management Inc. lowered its holdings in shares of Prologis, Inc. (NYSE:PLD) by 50.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,412 shares of the real estate investment trust’s stock after selling 9,756 shares during the quarter. Panagora Asset Management Inc.’s holdings in Prologis were worth $1,057,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of PLD. Optimum Investment Advisors bought a new position in Prologis in the 1st quarter worth $26,000. True Wealth Design LLC bought a new position in Prologis in the 4th quarter worth $27,000. Central Valley Advisors LLC bought a new position in Prologis in the 2nd quarter worth $29,000. JFS Wealth Advisors LLC raised its holdings in Prologis by 254.5% in the 4th quarter. JFS Wealth Advisors LLC now owns 234 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 168 shares during the period. Finally, Clear Investment Research LLC raised its holdings in Prologis by 188.1% in the 4th quarter. Clear Investment Research LLC now owns 242 shares of the real estate investment trust’s stock worth $32,000 after acquiring an additional 158 shares during the period. Institutional investors own 93.50% of the company’s stock.

Insiders Place Their Bets

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the business’s stock in a transaction dated 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 directly owns 13,187 shares of the company’s stock, valued at $1,702,046.09. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Scotiabank lifted their target price on shares of Prologis from $135.00 to $142.00 and gave the stock a “sector outperform” rating in a report on Monday, August 26th. Mizuho decreased their price target on shares of Prologis from $130.00 to $120.00 and set a “neutral” rating on the stock in a research report on Friday, May 31st. The Goldman Sachs Group raised their price target 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. BMO Capital Markets restated a “market perform” rating and issued a $115.00 price target on shares of Prologis in a research report on Monday, July 15th. Finally, Argus raised their price target on shares of Prologis from $120.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Seven investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $133.12.

Prologis Trading Up 2.0 %

Shares of PLD stock opened at $127.82 on Monday. Prologis, Inc. has a 12-month low of $96.64 and a 12-month high of $137.52. The company has a market capitalization of $118.35 billion, a P/E ratio of 37.37, a P/E/G ratio of 3.28 and a beta of 1.06. The firm has a 50-day moving average price of $121.00 and a 200 day moving average price of $119.02. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.52.

Prologis (NYSE:PLD) last announced its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.41). Prologis had a return on equity of 4.88% and a net margin of 36.37%. The company had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the prior year, the firm posted $1.83 earnings per share. The company’s revenue was down 18.1% on a year-over-year basis. Research analysts forecast that Prologis, Inc. will post 5.42 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.