Ethic Inc. Has $9.11 Million Position in Prologis, Inc. (NYSE:PLD)

Ethic Inc. increased its position in shares of Prologis, Inc. (NYSE:PLD – Free Report) by 26.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 72,987 shares of the real estate investment trust’s stock after purchasing an additional 15,392 shares during the period. Ethic Inc.’s holdings in Prologis were worth $9,107,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. GPS Wealth Strategies Group LLC bought a new position in Prologis during the 1st quarter worth $25,000. Sageworth Trust Co bought a new position in Prologis during the 1st quarter worth $26,000. Headlands Technologies LLC bought a new position in Prologis during the 1st quarter worth $30,000. Edmond DE Rothschild Holding S.A. bought a new position in Prologis during the 1st quarter worth $31,000. Finally, Osterweis Capital Management Inc. bought a new position in Prologis during the 4th quarter worth $33,000. 90.90% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on PLD. 888 restated a “maintains” rating on shares of Prologis in a research note on Wednesday, June 28th. StockNews.com began coverage on Prologis in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Morgan Stanley reiterated an “overweight” rating and issued a $128.00 price target on shares of Prologis in a research note on Thursday, July 20th. BTIG Research lifted their price target on Prologis from $152.00 to $154.00 in a research note on Wednesday, July 19th. Finally, Truist Financial decreased their price target on Prologis from $140.00 to $135.00 in a research note on Tuesday, June 27th. Three analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $140.65.

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Prologis Trading Down 1.2 %

PLD traded down $1.50 during midday trading on Thursday, hitting $124.20. 3,273,964 shares of the company were exchanged, compared to its average volume of 2,902,376. The firm has a market capitalization of $114.74 billion, a P/E ratio of 33.08, a P/E/G ratio of 2.47 and a beta of 0.98. Prologis, Inc. has a 1-year low of $98.03 and a 1-year high of $136.67. The firm’s 50 day moving average price is $123.31 and its 200-day moving average price is $122.98. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.48.

Prologis (NYSE:PLD – Get Free Report) last announced its earnings results on Tuesday, July 18th. The real estate investment trust reported $1.83 EPS for the quarter, topping the consensus estimate of $1.68 by $0.15. The firm had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $1.72 billion. Prologis had a return on equity of 6.17% and a net margin of 42.52%. The business’s quarterly revenue was up 95.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.11 EPS. As a group, equities analysts forecast that Prologis, Inc. will post 5.59 EPS for the current fiscal year.

Insider Activity

In other news, Director George L. Fotiades sold 10,711 shares of the business’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $123.98, for a total value of $1,327,949.78. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.70% of the stock is owned by company insiders.

Prologis Profile

(Free Report)

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At June 30, 2023, 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 (114 million square meters) in 19 countries.