Catalytic Wealth RIA LLC Acquires 5,765 Shares of Prologis, Inc. (NYSE:PLD)

Catalytic Wealth RIA LLC lifted its holdings in shares of Prologis, Inc. (NYSE:PLD) by 117.1% in the second quarter, Holdings Channel.com reports. The fund owned 10,687 shares of the real estate investment trust’s stock after purchasing an additional 5,765 shares during the quarter. Catalytic Wealth RIA LLC’s holdings in Prologis were worth $1,200,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PLD. True Wealth Design LLC acquired a new position in Prologis during the fourth quarter worth $27,000. Optimum Investment Advisors bought a new stake in shares of Prologis in the 1st quarter worth about $26,000. JFS Wealth Advisors LLC increased its position in shares of Prologis by 254.5% during the 4th quarter. JFS Wealth Advisors LLC now owns 234 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 168 shares in the last quarter. American Capital Advisory LLC acquired a new stake in shares of Prologis during the 2nd quarter worth about $26,000. Finally, Clear Investment Research LLC lifted its holdings in Prologis by 188.1% during the 4th quarter. Clear Investment Research LLC now owns 242 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 158 shares during the last quarter. 93.50% of the stock is owned by institutional investors.

Insider Activity

In related news, CIO Joseph Ghazal sold 5,200 shares of Prologis stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $129.07, for a total transaction of $671,164.00. Following the transaction, the executive now owns 13,187 shares of the company’s stock, valued at approximately $1,702,046.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.50% of the stock is currently owned by company insiders.

Prologis Price Performance

Shares of PLD stock opened at $127.82 on Friday. The firm’s 50 day moving average price is $121.00 and its two-hundred day moving average price is $119.10. The stock has a market cap of $118.35 billion, a PE ratio of 37.37, a PEG ratio of 3.28 and a beta of 1.06. Prologis, Inc. has a 52-week low of $96.64 and a 52-week high of $137.52. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.36 and a current ratio of 0.36.

Prologis (NYSE:PLD) last posted its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate 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 quarter in the prior year, the business earned $1.83 earnings per share. The firm’s revenue for the quarter was down 18.1% on a year-over-year basis. As a group, analysts forecast that Prologis, Inc. will post 5.42 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PLD. Wells Fargo & Company upped their price objective on shares of Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a research note on Wednesday. Barclays raised their price target on Prologis from $123.00 to $142.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. BMO Capital Markets reissued a “market perform” rating and issued a $115.00 price objective on shares of Prologis in a research note on Monday, July 15th. StockNews.com upgraded Prologis from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Finally, The Goldman Sachs Group lifted their price target on Prologis from $140.00 to $156.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Seven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $133.12.

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.