Legal & General Group Plc Takes Position in Prologis, Inc. $PLD

Legal & General Group Plc acquired a new position in Prologis, Inc. (NYSE:PLD) during the 2nd quarter, Holdings Channel reports. The firm acquired 10,880,378 shares of the real estate investment trust’s stock, valued at approximately $1,473,965,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Brighton Jones LLC increased its holdings in Prologis by 629.0% during the fourth quarter. Brighton Jones LLC now owns 17,475 shares of the real estate investment trust’s stock valued at $1,847,000 after buying an additional 15,078 shares during the last quarter. Schnieders Capital Management LLC. raised its position in Prologis by 45.4% in the second quarter. Schnieders Capital Management LLC. now owns 10,728 shares of the real estate investment trust’s stock worth $1,128,000 after acquiring an additional 3,350 shares during the period. Walleye Capital LLC purchased a new position in shares of Prologis during the 2nd quarter worth $422,000. NewEdge Advisors LLC boosted its stake in shares of Prologis by 6.8% during the 2nd quarter. NewEdge Advisors LLC now owns 63,829 shares of the real estate investment trust’s stock worth $6,710,000 after acquiring an additional 4,074 shares during the last quarter. Finally, Treasurer of the State of North Carolina grew its position in shares of Prologis by 2.4% during the 2nd quarter. Treasurer of the State of North Carolina now owns 433,312 shares of the real estate investment trust’s stock valued at $45,550,000 after acquiring an additional 10,266 shares during the period. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Insider Activity at Prologis

In related news, CFO Timothy D. Arndt sold 3,597 shares of the firm’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $150.00, for a total value of $539,550.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.52% of the company’s stock.

Prologis Trading Up 1.1%

Shares of PLD stock opened at $143.37 on Tuesday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $133.77 billion, a price-to-earnings ratio of 31.93 and a beta of 1.31. Prologis, Inc. has a 12-month low of $110.51 and a 12-month high of $153.35. The stock’s 50-day moving average price is $142.43 and its 200-day moving average price is $140.45.

Prologis (NYSE:PLD) last announced its quarterly earnings results on Thursday, July 16th. The real estate investment trust reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.38. The company had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.16 billion. Prologis had a return on equity of 7.29% and a net margin of 45.79%.The firm’s revenue was up 11.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.46 earnings per share. Prologis has set its FY 2026 guidance at 6.220-6.300 EPS. Equities research analysts predict that Prologis, Inc. will post 6.27 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Robert W. Baird set a $140.00 price objective on Prologis in a research note on Friday, July 31st. Wall Street Zen raised Prologis from a “sell” rating to a “hold” rating in a report on Saturday, July 18th. Mizuho upped their price target on Prologis from $150.00 to $159.00 and gave the stock an “outperform” rating in a research report on Friday, July 17th. Scotiabank upped their target price on shares of Prologis from $146.00 to $150.00 and gave the stock a “sector perform” rating in a report on Thursday, July 23rd. Finally, BTIG Research increased their price target on Prologis from $160.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, July 1st. Sixteen research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $154.57.

Prologis Company Profile

Prologis, Inc is a real estate investment trust (REIT) specializing in logistics and distribution facilities. The company focuses on acquiring, developing, and managing high-quality industrial real estate assets that support supply chain infrastructure for third-party logistics providers, e-commerce businesses, retailers and manufacturers. Its portfolio primarily consists of warehouse and distribution centers designed to optimize goods movement and storage near key transportation hubs.

With a global presence, Prologis serves customers across the Americas, Europe and Asia Pacific.