Washington Trust Bank Sells 6,605 Shares of Prologis, Inc. $PLD

Washington Trust Bank decreased its stake in Prologis, Inc. (NYSE:PLD) by 14.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 39,211 shares of the real estate investment trust’s stock after selling 6,605 shares during the period. Washington Trust Bank’s holdings in Prologis were worth $5,312,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. BlackRock Inc. acquired a new position in Prologis during the 2nd quarter valued at $14,006,587,000. Norges Bank acquired a new stake in Prologis in the 4th quarter worth $1,589,125,000. Legal & General Group Plc acquired a new stake in Prologis in the 2nd quarter worth $1,473,965,000. Bank of America Corp DE bought a new position in shares of Prologis during the 2nd quarter worth about $1,427,256,000. Finally, Cardano Risk Management B.V. increased its holdings in shares of Prologis by 999.3% during the 4th quarter. Cardano Risk Management B.V. now owns 11,228,730 shares of the real estate investment trust’s stock worth $1,433,460,000 after purchasing an additional 10,207,267 shares during the period. Institutional investors own 93.50% of the company’s stock.

Insider Activity

In other news, CFO Timothy D. Arndt sold 3,597 shares of the business’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $150.00, for a total value of $539,550.00. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.52% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on PLD. Wall Street Zen upgraded shares of Prologis from a “sell” rating to a “hold” rating in a research note on Saturday, July 18th. Morgan Stanley boosted their price target on Prologis from $135.00 to $151.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 26th. Truist Financial upped their price target on Prologis from $154.00 to $162.00 and gave the company a “buy” rating in a report on Tuesday, July 21st. Barclays upped their price target on Prologis from $139.00 to $156.00 and gave the company an “overweight” rating in a report on Thursday, July 16th. Finally, BTIG Research raised their price objective on Prologis from $160.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, July 1st. Sixteen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $154.57.

Prologis Price Performance

NYSE:PLD opened at $140.80 on Friday. 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 50-day moving average of $142.44 and a 200-day moving average of $140.59. Prologis, Inc. has a 52 week low of $110.51 and a 52 week high of $153.35. The company has a market capitalization of $131.38 billion, a price-to-earnings ratio of 31.36 and a beta of 1.31.

Prologis (NYSE:PLD) last announced its quarterly earnings results on Thursday, July 16th. The real estate investment trust reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.38. The firm had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Prologis had a net margin of 45.79% and a return on equity of 7.29%. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.46 earnings per share. Prologis has set its FY 2026 guidance at 6.220-6.300 EPS. As a group, equities research analysts anticipate that Prologis, Inc. will post 6.27 earnings per share for the current fiscal year.

About Prologis

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.