Westpac Banking Corp Takes $9 Million Position in Prologis, Inc. $PLD

Westpac Banking Corp purchased a new position in shares of Prologis, Inc. (NYSE:PLD) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 66,458 shares of the real estate investment trust’s stock, valued at approximately $9,003,000.

Other large investors have also recently added to or reduced their stakes in the company. High Point Wealth Management LLC purchased a new stake in Prologis in the 4th quarter valued at approximately $26,000. Ares Financial Consulting LLC acquired a new position in Prologis during the 4th quarter worth approximately $26,000. Clearstead Trust LLC purchased a new position in shares of Prologis during the 2nd quarter worth approximately $28,000. SouthState Bank Corp raised its stake in shares of 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 in the last quarter. Finally, Hilton Head Capital Partners LLC acquired a new stake in shares of Prologis in the 4th quarter valued at approximately $29,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PLD has been the topic of a number of analyst reports. Royal Bank Of Canada upgraded Prologis from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $148.00 to $160.00 in a research note on Tuesday, August 4th. Wells Fargo & Company increased their price objective on Prologis from $155.00 to $167.00 and gave the stock an “overweight” rating in a research report on Monday, June 1st. Truist Financial raised their target price on Prologis from $154.00 to $162.00 and gave the company a “buy” rating in a report on Tuesday, July 21st. Wall Street Zen upgraded shares of Prologis from a “sell” rating to a “hold” rating in a research report on Saturday, July 18th. Finally, Mizuho upped their price target on shares of Prologis from $150.00 to $159.00 and gave the stock an “outperform” rating in a research note on Friday, July 17th. Sixteen equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, Prologis currently has a consensus rating of “Moderate Buy” and a consensus price target of $154.57.

Prologis Price Performance

PLD stock opened at $141.77 on Friday. The firm has a 50 day moving average of $142.53 and a 200-day moving average of $140.29. The company has a market cap of $132.28 billion, a price-to-earnings ratio of 31.57 and a beta of 1.31. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.63. Prologis, Inc. has a 12-month low of $109.14 and a 12-month high of $153.35.

Prologis (NYSE:PLD) last released its quarterly earnings results on Thursday, July 16th. The real estate investment trust reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.38. Prologis had a return on equity of 7.29% and a net margin of 45.79%.The business had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter in the prior year, the firm posted $1.46 EPS. The company’s revenue 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, equities analysts expect that Prologis, Inc. will post 6.28 EPS for the current fiscal year.

Insider Buying and Selling

In other Prologis news, CFO Timothy D. Arndt sold 3,597 shares of the business’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $150.00, for a total transaction of $539,550.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.52% of the company’s stock.

About Prologis

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.