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

Washington Trust Bank lowered its position in Prologis, Inc. (NYSE:PLD) by 14.4% in the second quarter, according to 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.

Several other institutional investors and hedge funds have also modified their holdings of the business. Brighton Jones LLC boosted its stake in Prologis by 629.0% in the fourth quarter. Brighton Jones LLC now owns 17,475 shares of the real estate investment trust’s stock worth $1,847,000 after purchasing an additional 15,078 shares in the last quarter. Schnieders Capital Management LLC. increased its stake in shares of Prologis by 45.4% in the second quarter. Schnieders Capital Management LLC. now owns 10,728 shares of the real estate investment trust’s stock valued at $1,128,000 after buying an additional 3,350 shares in the last quarter. Walleye Capital LLC bought a new position in shares of Prologis in the second quarter valued at about $422,000. NewEdge Advisors LLC raised its holdings in shares of Prologis by 6.8% in the second quarter. NewEdge Advisors LLC now owns 63,829 shares of the real estate investment trust’s stock valued at $6,710,000 after buying an additional 4,074 shares during the last quarter. Finally, Treasurer of the State of North Carolina lifted its position in Prologis by 2.4% during the 2nd quarter. Treasurer of the State of North Carolina now owns 433,312 shares of the real estate investment trust’s stock worth $45,550,000 after buying an additional 10,266 shares in the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Prologis Trading Down 0.7%

Shares of PLD opened at $140.80 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.63. Prologis, Inc. has a 12-month low of $110.51 and a 12-month high of $153.35. The firm has a market capitalization of $131.38 billion, a PE ratio of 31.36 and a beta of 1.31. The stock’s fifty day simple moving average is $142.44 and its 200-day simple moving average is $140.59.

Prologis (NYSE:PLD) last posted its quarterly earnings results on Thursday, July 16th. The real estate investment trust reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.38. The business had revenue of $2.43 billion for 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%.The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.46 earnings per share. Prologis has set its FY 2026 guidance at 6.220-6.300 EPS. As a group, research analysts predict that Prologis, Inc. will post 6.27 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on PLD shares. Barclays increased their price objective on shares of Prologis from $139.00 to $156.00 and gave the stock an “overweight” rating in a report on Thursday, July 16th. Weiss Ratings downgraded shares of Prologis from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday. Robert W. Baird set a $140.00 target price on shares of Prologis in a research report on Friday, July 31st. Scotiabank increased their price target on shares of Prologis from $146.00 to $150.00 and gave the company a “sector perform” rating in a research note on Thursday, July 23rd. Finally, Wall Street Zen raised shares of Prologis from a “sell” rating to a “hold” rating in a report on Saturday, July 18th. Sixteen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $154.57.

Insider Transactions at Prologis

In other Prologis news, CFO Timothy D. Arndt sold 3,597 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $150.00, for a total transaction of $539,550.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 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.