Sumitomo Life Insurance Co. Takes $1.13 Million Position in Prologis, Inc. $PLD

Sumitomo Life Insurance Co. purchased a new position in shares of Prologis, Inc. (NYSE:PLD) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 8,373 shares of the real estate investment trust’s stock, valued at approximately $1,134,000.

A number of other large investors have also modified their holdings of the company. High Point Wealth Management LLC acquired a new position in Prologis during the 4th quarter valued at about $26,000. Ares Financial Consulting LLC acquired a new stake in shares of Prologis in the fourth quarter valued at approximately $26,000. Clearstead Trust LLC acquired a new stake in shares of Prologis in the second quarter valued at approximately $28,000. SouthState Bank Corp raised its holdings in shares of Prologis by 73.1% during the fourth quarter. SouthState Bank Corp now owns 225 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 95 shares during the last quarter. Finally, Hilton Head Capital Partners LLC bought a new stake in shares of Prologis during the fourth quarter valued at approximately $29,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Trading Up 0.8%

Shares of NYSE:PLD opened at $141.77 on Friday. The company has a 50 day moving average of $142.53 and a 200-day moving average of $140.29. The firm has a market cap of $132.28 billion, a P/E ratio of 31.57 and a beta of 1.31. 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.

Prologis (NYSE:PLD) last posted its quarterly earnings data 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. Prologis had a net margin of 45.79% and a return on equity of 7.29%. The business had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same period last year, the firm posted $1.46 earnings per share. The business’s revenue was up 11.0% on a year-over-year basis. Prologis has set its FY 2026 guidance at 6.220-6.300 EPS. As a group, analysts anticipate that Prologis, Inc. will post 6.28 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PLD. Royal Bank Of Canada upgraded Prologis from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $148.00 to $160.00 in a research report on Tuesday, August 4th. Morgan Stanley lifted their target price on Prologis from $135.00 to $151.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 26th. Raymond James Financial started coverage on Prologis in a research report on Thursday, June 18th. They set a “market perform” rating for the company. Wall Street Zen raised Prologis from a “sell” rating to a “hold” rating in a research note on Saturday, July 18th. Finally, Robert W. Baird set a $140.00 price target on Prologis in a research note on Friday, July 31st. Sixteen research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, Prologis presently has an average rating of “Moderate Buy” and an average target price of $154.57.

Insiders Place Their Bets

In other Prologis news, CFO Timothy D. Arndt sold 3,597 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $150.00, for a total transaction of $539,550.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.52% of the stock is owned by company insiders.

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.