American Century Companies Inc. Decreases Holdings in Prologis, Inc. $PLD

Key Points

• American Century Companies Inc. reduced its holdings in Prologis, Inc. by 14.1%, bringing its ownership to 2,545,514 shares valued at approximately $284.6 million.
• Prologis reported $1.46 EPS for the latest quarter, beating estimates, and achieving an annual revenue increase of 8.8%.
• Analyst ratings for Prologis vary, with a consensus of "Moderate Buy" and an average target price of $120.33.

American Century Companies Inc. trimmed its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 14.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,545,514 shares of the real estate investment trust's stock after selling 418,558 shares during the quarter. American Century Companies Inc. owned approximately 0.27% of Prologis worth $284,563,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Ethic Inc. increased its position in Prologis by 0.4% during the 1st quarter. Ethic Inc. now owns 92,385 shares of the real estate investment trust's stock worth $10,296,000 after purchasing an additional 329 shares in the last quarter. Aberdeen Group plc increased its position in Prologis by 33.0% during the 1st quarter. Aberdeen Group plc now owns 1,697,476 shares of the real estate investment trust's stock worth $188,462,000 after purchasing an additional 421,620 shares in the last quarter. Horizon Investments LLC increased its position in Prologis by 5.1% during the 1st quarter. Horizon Investments LLC now owns 13,323 shares of the real estate investment trust's stock worth $1,489,000 after purchasing an additional 644 shares in the last quarter. Providence Capital Advisors LLC increased its position in Prologis by 2.1% during the 1st quarter. Providence Capital Advisors LLC now owns 68,579 shares of the real estate investment trust's stock worth $7,667,000 after purchasing an additional 1,420 shares in the last quarter. Finally, Inspire Trust Co. N.A. increased its position in Prologis by 7.8% during the 1st quarter. Inspire Trust Co. N.A. now owns 36,000 shares of the real estate investment trust's stock worth $4,024,000 after purchasing an additional 2,600 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Stock Up 0.6%

Shares of PLD stock traded up $0.68 on Friday, hitting $106.53. The stock had a trading volume of 1,924,191 shares, compared to its average volume of 3,559,894. The business has a 50 day moving average of $107.13 and a 200 day moving average of $109.02. The stock has a market cap of $98.87 billion, a price-to-earnings ratio of 28.87, a price-to-earnings-growth ratio of 2.67 and a beta of 1.21. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.65 and a quick ratio of 0.65. Prologis, Inc. has a 12-month low of $85.35 and a 12-month high of $132.57.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Wells Fargo & Company set a $137.00 target price on shares of Prologis and gave the stock an "overweight" rating in a report on Sunday, July 13th. UBS Group boosted their target price on shares of Prologis from $106.00 to $120.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Barclays reduced their target price on shares of Prologis from $132.00 to $119.00 and set an "overweight" rating on the stock in a report on Wednesday, April 30th. Robert W. Baird reduced their target price on shares of Prologis from $126.00 to $120.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Finally, Wolfe Research lowered shares of Prologis from an "outperform" rating to a "peer perform" rating in a report on Monday, April 21st. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $120.33.

Prologis Company 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.