Cornerstone Advisors LLC Takes $8.57 Million Position in Prologis, Inc. $PLD

Cornerstone Advisors LLC bought a new stake in Prologis, Inc. (NYSE:PLD) in the 2nd quarter, according to its most recent filing with the SEC. The fund bought 63,249 shares of the real estate investment trust’s stock, valued at approximately $8,568,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Prologis by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 123,323,290 shares of the real estate investment trust’s stock valued at $15,743,451,000 after buying an additional 1,258,407 shares in the last quarter. BlackRock Inc. purchased a new stake in shares of Prologis during the 2nd quarter worth about $14,006,587,000. Geode Capital Management LLC grew its position in shares of Prologis by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 23,012,940 shares of the real estate investment trust’s stock valued at $2,925,791,000 after acquiring an additional 339,906 shares during the period. Capital Research Global Investors grew its position in shares of Prologis by 4.4% during the 4th quarter. Capital Research Global Investors now owns 16,061,390 shares of the real estate investment trust’s stock valued at $2,050,397,000 after acquiring an additional 678,363 shares during the period. Finally, Norges Bank purchased a new position in shares of Prologis in the 4th quarter valued at about $1,589,125,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Prologis

In other news, CFO Timothy D. Arndt sold 3,597 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $150.00, for a total value of $539,550.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.52% of the stock is currently owned by company insiders.

Prologis Stock Down 0.3%

PLD stock opened at $140.61 on Tuesday. Prologis, Inc. has a 52 week low of $105.42 and a 52 week high of $153.35. 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 firm has a 50-day simple moving average of $143.05 and a 200-day simple moving average of $140.04. The stock has a market capitalization of $131.20 billion, a P/E ratio of 31.32 and a beta of 1.31.

Prologis (NYSE:PLD) last issued its quarterly earnings results on Thursday, July 16th. The real estate investment trust reported $1.13 earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $2.16 billion. During the same period last year, the company posted $1.46 EPS. Prologis’s quarterly 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. Equities analysts forecast that Prologis, Inc. will post 6.28 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on PLD shares. Royal Bank Of Canada raised Prologis from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $148.00 to $160.00 in a report on Tuesday, August 4th. BTIG Research raised their price objective on Prologis from $160.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, July 1st. Mizuho boosted their price objective on Prologis from $150.00 to $159.00 and gave the company an “outperform” rating in a research report on Friday, July 17th. BMO Capital Markets reduced their target price on Prologis from $162.00 to $158.00 and set an “outperform” rating for the company in a research note on Monday, June 29th. Finally, Barclays increased their target price on Prologis from $139.00 to $156.00 and gave the company an “overweight” rating in a research report on Thursday, July 16th. Sixteen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $154.57.

Prologis 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.