Covington Investment Advisors Inc. Purchases New Holdings in Prologis, Inc. $PLD

Covington Investment Advisors Inc. acquired a new position in shares of Prologis, Inc. (NYSE:PLD) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 48,783 shares of the real estate investment trust’s stock, valued at approximately $6,609,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Prologis in the second quarter worth approximately $14,006,587,000. Norges Bank acquired a new position in Prologis in the 4th quarter valued at $1,589,125,000. Cardano Risk Management B.V. raised its stake in Prologis by 999.3% in the 4th 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 purchased a new position in Prologis in the 2nd quarter valued at $968,959,000. Finally, Bank of New York Mellon Corp purchased a new position in Prologis in the 2nd quarter valued at $742,843,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Barclays upped their target price on shares of Prologis from $139.00 to $156.00 and gave the stock an “overweight” rating in a report on Thursday, July 16th. Truist Financial increased their price objective on shares of Prologis from $154.00 to $162.00 and gave the company a “buy” rating in a report on Tuesday, July 21st. Weiss Ratings raised shares of Prologis from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, August 12th. Mizuho boosted their price objective on Prologis from $150.00 to $159.00 and gave the stock an “outperform” rating in a research note on Friday, July 17th. Finally, Raymond James Financial began coverage on Prologis in a research report on Thursday, June 18th. They issued a “market perform” rating for the company. Sixteen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $154.57.

Prologis Trading Down 0.0%

Shares of NYSE PLD opened at $141.77 on Monday. Prologis, Inc. has a twelve month low of $109.14 and a twelve month 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 fifty day simple moving average of $142.53 and a 200-day simple moving average of $140.36. The stock has a market capitalization of $132.28 billion, a PE ratio of 31.57 and a beta of 1.31.

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

Insider Buying and Selling at Prologis

In related news, CFO Timothy D. Arndt sold 3,597 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $150.00, for a total transaction of $539,550.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.52% of the company’s stock.

Prologis 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.