L2 Asset Management LLC Buys New Holdings in Prologis, Inc. $PLD

L2 Asset Management LLC purchased a new position in shares of Prologis, Inc. (NYSE:PLD) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 5,468 shares of the real estate investment trust’s stock, valued at approximately $741,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of PLD. BlackRock Inc. bought a new stake in Prologis in the 2nd quarter valued at $14,006,587,000. Norges Bank bought a new position in Prologis during the fourth quarter worth $1,589,125,000. Cardano Risk Management B.V. increased its holdings in shares of Prologis by 999.3% in the fourth quarter. Cardano Risk Management B.V. now owns 11,228,730 shares of the real estate investment trust’s stock valued at $1,433,460,000 after purchasing an additional 10,207,267 shares during the last quarter. Deutsche Bank AG acquired a new position in shares of Prologis in the second quarter valued at $968,959,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Prologis during the 2nd quarter worth about $742,843,000. Institutional investors own 93.50% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on PLD shares. Truist Financial upped their price target on shares of Prologis from $154.00 to $162.00 and gave the company a “buy” rating in a research note on Tuesday, July 21st. BMO Capital Markets cut their price objective on shares of Prologis from $162.00 to $158.00 and set an “outperform” rating for the company in a research report on Monday, June 29th. Wall Street Zen upgraded Prologis from a “sell” rating to a “hold” rating in a report on Saturday, July 18th. Wells Fargo & Company upped their target price on Prologis from $155.00 to $167.00 and gave the company an “overweight” rating in a research report on Monday, June 1st. Finally, Royal Bank Of Canada upgraded Prologis from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $148.00 to $160.00 in a research note on Tuesday, August 4th. Sixteen analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $154.57.

Prologis Trading Up 1.1%

Shares of PLD stock opened at $143.37 on Tuesday. The stock has a market cap of $133.77 billion, a P/E ratio of 31.93 and a beta of 1.31. Prologis, Inc. has a 1 year low of $110.51 and a 1 year high of $153.35. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.63. The stock has a 50 day simple moving average of $142.43 and a 200 day simple moving average of $140.45.

Prologis (NYSE:PLD) last posted its quarterly earnings data 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 for the quarter, compared to analyst estimates of $2.16 billion. Prologis had a return on equity of 7.29% and a net margin of 45.79%.The company’s revenue was up 11.0% on a year-over-year basis. During the same quarter last year, the company earned $1.46 EPS. Prologis has set its FY 2026 guidance at 6.220-6.300 EPS. On average, research analysts predict that Prologis, Inc. will post 6.27 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Timothy D. Arndt sold 3,597 shares of the firm’s stock in a transaction 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 legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.52% of the company’s stock.

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.