Ingalls & Snyder LLC Trims Stock Position in Prologis, Inc. (NYSE:PLD)

Ingalls & Snyder LLC reduced its stake in Prologis, Inc. (NYSE:PLD) by 1.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 10,699 shares of the real estate investment trust’s stock after selling 168 shares during the period. Ingalls & Snyder LLC’s holdings in Prologis were worth $1,351,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. American Capital Advisory LLC purchased a new position in Prologis in the 2nd quarter valued at $26,000. Semmax Financial Advisors Inc. purchased a new stake in shares of Prologis in the second quarter valued at about $27,000. Central Valley Advisors LLC acquired a new position in shares of Prologis during the second quarter worth about $29,000. Sunbelt Securities Inc. raised its holdings in Prologis by 640.0% during the second quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 224 shares in the last quarter. Finally, Wetzel Investment Advisors Inc. acquired a new stake in Prologis in the second quarter valued at about $31,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on PLD. The Goldman Sachs Group reiterated a “neutral” rating and set a $132.00 target price (down previously from $142.00) on shares of Prologis in a research report on Monday, October 21st. Scotiabank dropped their price objective on Prologis from $142.00 to $136.00 and set a “sector outperform” rating on the stock in a report on Friday, October 25th. Bank of America reissued a “neutral” rating and issued a $128.00 target price on shares of Prologis in a report on Monday, August 12th. JPMorgan Chase & Co. decreased their target price on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a research report on Monday, October 21st. Finally, Barclays increased their price target on shares of Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a report on Monday, November 18th. Eight investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Prologis has a consensus rating of “Moderate Buy” and an average target price of $131.25.

Prologis Price Performance

PLD stock opened at $116.40 on Wednesday. The stock’s 50 day moving average price is $118.28 and its 200 day moving average price is $118.87. The firm has a market cap of $107.81 billion, a P/E ratio of 35.17, a PEG ratio of 3.39 and a beta of 1.07. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43. Prologis, Inc. has a 1 year low of $101.11 and a 1 year high of $137.52.

Prologis (NYSE:PLD) last issued its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.29). The company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Prologis had a net margin of 39.08% and a return on equity of 5.34%. The firm’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.30 earnings per share. On average, sell-side analysts expect that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

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.