Allstate Corp Decreases Holdings in Prologis, Inc. $PLD

Key Points

• Allstate Corp reduced its stake in Prologis, Inc. by 16.5% in the first quarter, now holding 62,241 shares valued at approximately $6.96 million.
• Prologis reported $1.46 EPS for the last quarter, exceeding analysts' predictions, and a revenue of $2.03 billion, reflecting an 8.8% year-over-year growth.
• Analysts have set varied price targets for Prologis, with a consensus average of $121.06; ratings include two Strong Buy, eleven Buy, and one Sell.

Allstate Corp trimmed its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 16.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 62,241 shares of the real estate investment trust's stock after selling 12,277 shares during the period. Allstate Corp's holdings in Prologis were worth $6,958,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PLD. REAP Financial Group LLC increased 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 valued at $31,000 after acquiring an additional 84 shares during the last quarter. Pandora Wealth Inc. acquired a new stake in shares of Prologis during the first quarter valued at about $34,000. GKV Capital Management Co. Inc. acquired a new stake in shares of Prologis during the first quarter valued at about $34,000. Olde Wealth Management LLC acquired a new stake in shares of Prologis during the first quarter valued at about $43,000. Finally, Cornerstone Planning Group LLC increased its position in shares of Prologis by 63.6% during the first quarter. Cornerstone Planning Group LLC now owns 391 shares of the real estate investment trust's stock valued at $44,000 after acquiring an additional 152 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Price Performance

Shares of NYSE PLD opened at $108.2390 on Friday. The firm has a market capitalization of $100.47 billion, a P/E ratio of 29.33, a PEG ratio of 2.76 and a beta of 1.21. Prologis, Inc. has a one year low of $85.35 and a one year high of $132.57. The company's fifty day moving average is $107.11 and its two-hundred day moving average is $108.88. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.65 and a current ratio of 0.65.

Prologis (NYSE:PLD - Get Free Report) last released its earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.41 by $0.05. The company 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%. The firm's quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.34 EPS. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. Analysts forecast that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on PLD. Royal Bank Of Canada lowered their price objective on shares of Prologis from $128.00 to $117.00 and set a "sector perform" rating for the company in a research note on Tuesday, April 29th. UBS Group raised their price objective on shares of Prologis from $106.00 to $120.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Wells Fargo & Company set a $137.00 price objective on shares of Prologis and gave the company an "overweight" rating in a research note on Sunday, July 13th. Robert W. Baird lowered their price objective on shares of Prologis from $126.00 to $120.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Finally, Scotiabank raised their price objective on shares of Prologis from $97.00 to $100.00 and gave the company a "sector underperform" rating in a research note on Monday, May 12th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $121.06.

Prologis Profile

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.

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