OVERSEA CHINESE BANKING Corp Ltd Acquires Shares of 134,737 Prologis, Inc. $PLD

OVERSEA CHINESE BANKING Corp Ltd bought a new stake in Prologis, Inc. (NYSE:PLD) in the second quarter, HoldingsChannel reports. The fund bought 134,737 shares of the real estate investment trust’s stock, valued at approximately $18,253,000.

A number of other hedge funds have also recently added to or reduced their stakes in PLD. Schnieders Capital Management LLC. grew its position in Prologis by 45.4% during the 2nd quarter. Schnieders Capital Management LLC. now owns 10,728 shares of the real estate investment trust’s stock worth $1,128,000 after purchasing an additional 3,350 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Prologis by 4.8% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 335,187 shares of the real estate investment trust’s stock valued at $42,790,000 after purchasing an additional 15,335 shares during the period. Merrithew & Thorsten Inc purchased a new stake in shares of Prologis in the fourth quarter valued at about $5,641,000. The Manufacturers Life Insurance Company raised its holdings in shares of Prologis by 4.5% in the first quarter. The Manufacturers Life Insurance Company now owns 772,814 shares of the real estate investment trust’s stock valued at $102,151,000 after buying an additional 33,172 shares during the last quarter. Finally, BlackRock Inc. purchased a new stake in shares of Prologis in the second quarter valued at about $14,006,587,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Stock Down 0.6%

PLD stock opened at $140.51 on Friday. Prologis, Inc. has a one year low of $107.84 and a one year high of $153.35. The stock has a market capitalization of $131.11 billion, a PE ratio of 31.29 and a beta of 1.31. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.70 and a current ratio of 0.70. The company has a fifty day moving average of $142.66 and a 200-day moving average of $140.28.

Prologis (NYSE:PLD) last issued its earnings results on Thursday, July 16th. The real estate investment trust reported $1.13 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.38. Prologis had a net margin of 45.79% and a return on equity of 7.29%. The business had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter in the previous year, the firm earned $1.46 earnings per share. The business’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. As a group, analysts expect that Prologis, Inc. will post 6.28 EPS for the current year.

Insider Buying and Selling

In other Prologis news, CFO Timothy D. Arndt sold 3,597 shares of Prologis 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 sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.52% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on PLD shares. Morgan Stanley raised their price target on Prologis from $135.00 to $151.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 26th. Mizuho upped their price objective on Prologis from $150.00 to $159.00 and gave the company an “outperform” rating in a research note on Friday, July 17th. Truist Financial increased their price objective on Prologis from $154.00 to $162.00 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. Raymond James Financial started coverage on Prologis in a research report on Thursday, June 18th. They set a “market perform” rating for the company. Finally, Wall Street Zen raised Prologis from a “sell” rating to a “hold” rating in a report on Saturday, July 18th. Sixteen equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $154.57.

Prologis Company 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.