APG Asset Management N.V. Sells 40,274 Shares of Prologis, Inc. $PLD

Key Points

• APG Asset Management N.V. reduced its holdings in Prologis, Inc. by 5.8%, selling 40,274 shares during the first quarter and maintaining a total ownership of 654,196 shares valued at approximately $67.7 million.
• Wall Street analysts have mixed opinions on Prologis, with one report downgrading the stock from a "hold" to a "sell" rating, while the consensus rating remains a "Moderate Buy" with a price target averaging $121.06.
• Prologis reported quarterly earnings of $1.46 EPS, which exceeded analysts' expectations, reflecting an 8.8% increase in revenue compared to the same quarter last year.

APG Asset Management N.V. lessened its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 5.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 654,196 shares of the real estate investment trust's stock after selling 40,274 shares during the quarter. APG Asset Management N.V. owned about 0.07% of Prologis worth $67,703,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. grew its position in shares of Prologis by 1.0% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 50,253 shares of the real estate investment trust's stock worth $5,618,000 after buying an additional 509 shares during the period. Van Hulzen Asset Management LLC boosted its stake in Prologis by 5.6% during the 1st quarter. Van Hulzen Asset Management LLC now owns 1,799 shares of the real estate investment trust's stock worth $201,000 after acquiring an additional 96 shares during the last quarter. Strategies Wealth Advisors LLC bought a new position in Prologis during the 1st quarter worth approximately $236,000. Kestra Advisory Services LLC boosted its stake in Prologis by 1.8% during the 1st quarter. Kestra Advisory Services LLC now owns 80,570 shares of the real estate investment trust's stock worth $9,007,000 after acquiring an additional 1,403 shares during the last quarter. Finally, Laffer Tengler Investments Inc. boosted its stake in Prologis by 7.2% during the 1st quarter. Laffer Tengler Investments Inc. now owns 43,763 shares of the real estate investment trust's stock worth $4,892,000 after acquiring an additional 2,957 shares during the last quarter. Institutional investors own 93.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on PLD shares. Robert W. Baird reduced their price objective on shares of Prologis from $126.00 to $120.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Scotiabank set a $114.00 price target on shares of Prologis and gave the company a "sector perform" rating in a research note on Wednesday. Barclays cut their price target on shares of Prologis from $132.00 to $119.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 30th. Truist Financial cut their price target on shares of Prologis from $123.00 to $120.00 and set a "buy" rating on the stock in a research note on Monday, May 5th. Finally, UBS Group lifted their price target 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. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $121.83.

Prologis Stock Up 1.2%

Shares of NYSE PLD traded up $1.37 during midday trading on Wednesday, reaching $112.72. The company's stock had a trading volume of 3,451,268 shares, compared to its average volume of 4,450,015. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.61. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two week high of $132.57. The stock has a market capitalization of $104.63 billion, a price-to-earnings ratio of 30.55, a PEG ratio of 2.80 and a beta of 1.21. The stock has a 50 day simple moving average of $107.44 and a 200-day simple moving average of $108.68.

Prologis (NYSE:PLD - Get Free Report) last issued its earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share for the quarter, topping analysts' consensus estimates of $1.41 by $0.05. The business had revenue of $2.03 billion for 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 period in the previous year, the company earned $1.34 earnings per share. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. Equities research analysts predict that Prologis, Inc. will post 5.73 earnings per share for the current year.

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.