Glenview Trust Co Makes New Investment in Prologis, Inc. $PLD

Glenview Trust Co acquired a new position in shares of Prologis, Inc. (NYSE:PLD) in the second quarter, HoldingsChannel reports. The institutional investor acquired 17,072 shares of the real estate investment trust’s stock, valued at approximately $2,313,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Manning & Napier Advisors LLC acquired a new stake in Prologis during the 2nd quarter worth approximately $25,000. Solstein Capital LLC bought a new stake in Prologis in the 2nd quarter valued at $25,000. Clearstead Trust LLC acquired a new position in Prologis in the 2nd quarter valued at $28,000. Johnson Financial Group Inc. bought a new position in Prologis during the 2nd quarter worth $29,000. Finally, SouthState Bank Corp increased its position in Prologis by 73.1% during the 4th quarter. SouthState Bank Corp now owns 225 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 95 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analyst Upgrades and Downgrades

PLD has been the subject of a number of research reports. Scotiabank lifted their target price on Prologis from $146.00 to $150.00 and gave the stock a “sector perform” rating in a report on Thursday, July 23rd. Truist Financial upped their price target on shares of Prologis from $154.00 to $162.00 and gave the company a “buy” rating in a research note on Tuesday, July 21st. Barclays raised their price target on shares of Prologis from $139.00 to $156.00 and gave the stock an “overweight” rating in a research report on Thursday, July 16th. Wells Fargo & Company lifted their price objective on shares of Prologis from $155.00 to $167.00 and gave the stock an “overweight” rating in a research note on Monday, June 1st. Finally, Wall Street Zen raised shares of Prologis from a “sell” rating to a “hold” rating in a report on Saturday, July 18th. Sixteen research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $154.57.

Prologis Stock Performance

Prologis stock opened at $140.80 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.63. The stock has a market cap of $131.38 billion, a PE ratio of 31.36 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 business’s 50-day moving average price is $142.44 and its two-hundred day moving average price is $140.59.

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

Insider Transactions at Prologis

In related news, CFO Timothy D. Arndt sold 3,597 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $150.00, for a total value of $539,550.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.52% of the stock is currently owned by corporate insiders.

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.