Envestnet Portfolio Solutions Inc. Has $18.31 Million Stock Position in Prologis, Inc. (NYSE:PLD)

Envestnet Portfolio Solutions Inc. raised its holdings in shares of Prologis, Inc. (NYSE:PLD) by 36.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 162,990 shares of the real estate investment trust’s stock after acquiring an additional 43,235 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Prologis were worth $18,305,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Nordea Investment Management AB increased its stake in Prologis by 380.0% in the 1st quarter. Nordea Investment Management AB now owns 333,022 shares of the real estate investment trust’s stock valued at $43,046,000 after buying an additional 263,649 shares during the last quarter. Janney Capital Management LLC raised its holdings in Prologis by 18.8% during the fourth quarter. Janney Capital Management LLC now owns 23,872 shares of the real estate investment trust’s stock worth $3,182,000 after acquiring an additional 3,773 shares in the last quarter. Atalanta Sosnoff Capital LLC acquired a new position in Prologis during the fourth quarter valued at approximately $18,551,000. US Bancorp DE grew its stake in Prologis by 6.5% in the first quarter. US Bancorp DE now owns 676,912 shares of the real estate investment trust’s stock valued at $88,148,000 after purchasing an additional 41,469 shares in the last quarter. Finally, Desjardins Global Asset Management Inc. increased its position in shares of Prologis by 255.0% during the 4th quarter. Desjardins Global Asset Management Inc. now owns 16,124 shares of the real estate investment trust’s stock worth $2,149,000 after purchasing an additional 11,582 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Trading Up 0.8 %

PLD stock traded up $0.99 during trading on Thursday, hitting $124.41. The company had a trading volume of 807,340 shares, compared to its average volume of 3,702,179. The stock has a market cap of $115.18 billion, a PE ratio of 36.09, a PEG ratio of 3.02 and a beta of 1.06. The business has a 50-day moving average of $117.33 and a 200-day moving average of $119.39. The company has a current ratio of 0.36, a quick ratio of 0.29 and a debt-to-equity ratio of 0.52. Prologis, Inc. has a one year low of $96.64 and a one year high of $137.52.

Prologis (NYSE:PLD) last posted its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share for the quarter, missing the consensus estimate of $1.33 by ($0.41). The firm had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.86 billion. Prologis had a return on equity of 4.88% and a net margin of 36.37%. The company’s quarterly revenue was down 18.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.83 earnings per share. Research analysts predict that Prologis, Inc. will post 5.43 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Robert W. Baird cut their price objective on Prologis from $137.00 to $117.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. The Goldman Sachs Group increased their price target on shares of Prologis from $140.00 to $156.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. StockNews.com raised shares of Prologis from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. UBS Group reduced their price objective on Prologis from $151.00 to $138.00 and set a “buy” rating for the company in a report on Thursday, April 18th. Finally, BMO Capital Markets reissued a “market perform” rating and set a $115.00 price target on shares of Prologis in a report on Monday, July 15th. Seven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Prologis presently has a consensus rating of “Moderate Buy” and an average price target of $131.81.

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.