Aberdeen Group plc Has $188.46 Million Position in Prologis, Inc. $PLD

Key Points

• Aberdeen Group plc increased its stake in Prologis, Inc. by 33%, acquiring an additional 421,620 shares and bringing its total ownership to 1,697,476 shares valued at approximately $188.5 million.
• Institutional investors collectively own 93.5% of Prologis, with significant increases from firms such as Brighton Jones LLC (629% increase) and Bridgewater Associates LP (185.6% increase) in the last quarter.
• Analysts currently have a Moderate Buy rating on Prologis with an average price target of $120.33; however, individual projections vary widely, indicating differing opinions on the stock's future performance.

Aberdeen Group plc increased its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 33.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,697,476 shares of the real estate investment trust's stock after buying an additional 421,620 shares during the period. Aberdeen Group plc owned about 0.18% of Prologis worth $188,462,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. REAP Financial Group LLC boosted its position in shares of Prologis by 40.0% during the fourth quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust's stock worth $31,000 after buying an additional 84 shares during the period. Pandora Wealth Inc. purchased a new stake in Prologis during the first quarter worth about $34,000. GKV Capital Management Co. Inc. acquired a new stake in shares of Prologis during the first quarter worth about $34,000. Olde Wealth Management LLC purchased a new position in shares of Prologis in the first quarter valued at approximately $43,000. Finally, Cornerstone Planning Group LLC boosted its stake in shares of Prologis by 63.6% in the first quarter. Cornerstone Planning Group LLC now owns 391 shares of the real estate investment trust's stock valued at $44,000 after purchasing an additional 152 shares during the period. Institutional investors and hedge funds own 93.50% of the company's stock.

Prologis Price Performance

NYSE PLD traded up $0.68 on Friday, hitting $106.53. 1,924,191 shares of the company were exchanged, compared to its average volume of 3,559,894. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.61. The company has a market cap of $98.87 billion, a P/E ratio of 28.87, a P/E/G ratio of 2.67 and a beta of 1.21. Prologis, Inc. has a 1-year low of $85.35 and a 1-year high of $132.57. The firm has a 50 day moving average of $107.13 and a two-hundred day moving average of $109.02.

Prologis (NYSE:PLD - Get Free Report) last announced its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.05. The business had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.03 billion. Prologis had a net margin of 40.29% and a return on equity of 5.96%. Prologis's revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.34 earnings per share. On average, equities analysts predict that Prologis, Inc. will post 5.73 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on PLD shares. Scotiabank boosted their price objective on Prologis from $97.00 to $100.00 and gave the stock a "sector underperform" rating in a research report on Monday, May 12th. Wolfe Research downgraded shares of Prologis from an "outperform" rating to a "peer perform" rating in a research note on Monday, April 21st. Truist Financial dropped their price objective on shares of Prologis from $123.00 to $120.00 and set a "buy" rating on the stock in a research report on Monday, May 5th. Citigroup decreased their price objective on shares of Prologis from $150.00 to $140.00 and set a "buy" rating for the company in a research report on Wednesday, July 23rd. Finally, Wells Fargo & Company set a $137.00 target price on Prologis and gave the company an "overweight" rating in a report on Sunday, July 13th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Prologis has an average rating of "Moderate Buy" and a consensus target price of $120.33.

About Prologis

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At March 31, 2024, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 1.2 billion square feet (115 million square meters) in 19 countries.