Raymond James & Associates Has $113.29 Million Position in Prologis, Inc. (NYSE:PLD)

Raymond James & Associates grew its stake in Prologis, Inc. (NYSE:PLD) by 12.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,008,735 shares of the real estate investment trust’s stock after purchasing an additional 110,352 shares during the quarter. Raymond James & Associates’ holdings in Prologis were worth $113,291,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of PLD. Vanguard Group Inc. lifted its position in Prologis by 1.2% during the first quarter. Vanguard Group Inc. now owns 120,945,384 shares of the real estate investment trust’s stock worth $15,749,508,000 after acquiring an additional 1,460,229 shares during the last quarter. Valeo Financial Advisors LLC boosted its stake in Prologis by 182,067.2% in the 1st quarter. Valeo Financial Advisors LLC now owns 48,877,279 shares of the real estate investment trust’s stock valued at $6,364,799,000 after purchasing an additional 48,850,448 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Prologis by 3.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,532,773 shares of the real estate investment trust’s stock valued at $1,670,621,000 after buying an additional 365,904 shares in the last quarter. Principal Financial Group Inc. increased its position in Prologis by 1.0% during the 4th quarter. Principal Financial Group Inc. now owns 12,325,559 shares of the real estate investment trust’s stock worth $1,642,997,000 after buying an additional 123,902 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Prologis by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 9,519,818 shares of the real estate investment trust’s stock worth $1,268,992,000 after buying an additional 175,276 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Barclays upped their price target on shares of Prologis from $123.00 to $142.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Morgan Stanley lifted their price target on shares of Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a research report on Wednesday. Scotiabank boosted their price target on Prologis from $130.00 to $135.00 and gave the company a “sector outperform” rating in a research note on Wednesday, August 7th. Argus raised their price objective on Prologis from $120.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Finally, Truist Financial upped their target price on Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Seven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $131.81.

Prologis Price Performance

Shares of PLD stock traded down $1.92 on Friday, reaching $122.85. The company had a trading volume of 2,899,167 shares, compared to its average volume of 3,709,659. The business’s 50-day moving average is $117.88 and its 200 day moving average is $119.34. Prologis, Inc. has a one year low of $96.64 and a one year high of $137.52. The company has a quick ratio of 0.29, a current ratio of 0.36 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $113.74 billion, a PE ratio of 35.92, a price-to-earnings-growth ratio of 3.02 and a beta of 1.06.

Prologis (NYSE:PLD) last issued its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.92 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.41). The company had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.86 billion. Prologis had a net margin of 36.37% and a return on equity of 4.88%. Prologis’s revenue for the quarter was down 18.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.83 EPS. Equities research analysts forecast that Prologis, Inc. will post 5.43 EPS for the current fiscal year.

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.