Prologis, Inc. $PLD Position Trimmed by Bahl & Gaynor Inc.

Key Points

• Bahl & Gaynor Inc. reduced its holdings in Prologis, Inc. by 23.2% during Q1, now owning approximately $123.52 million worth of shares.
• Several institutional investors have also altered their positions in Prologis, with Nuveen LLC acquiring a stake valued at $1.46 billion.
• Analysts have mixed ratings for Prologis; it has a consensus rating of Moderate Buy and a target price of $121.06.

Bahl & Gaynor Inc. decreased its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 23.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,104,949 shares of the real estate investment trust's stock after selling 333,350 shares during the quarter. Bahl & Gaynor Inc. owned approximately 0.12% of Prologis worth $123,522,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of Prologis by 0.7% in the first quarter. Vanguard Group Inc. now owns 121,339,410 shares of the real estate investment trust's stock valued at $13,564,533,000 after purchasing an additional 869,310 shares during the period. Northern Trust Corp increased its stake in shares of Prologis by 54.6% in the fourth quarter. Northern Trust Corp now owns 13,855,339 shares of the real estate investment trust's stock valued at $1,464,509,000 after purchasing an additional 4,893,284 shares during the period. Nuveen LLC acquired a new stake in shares of Prologis in the first quarter valued at approximately $1,456,768,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Prologis by 5.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,648,872 shares of the real estate investment trust's stock valued at $1,125,586,000 after purchasing an additional 505,318 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Prologis by 0.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 10,495,932 shares of the real estate investment trust's stock valued at $1,173,340,000 after purchasing an additional 93,201 shares during the period. Institutional investors and hedge funds own 93.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Wall Street Zen lowered shares of Prologis from a "hold" rating to a "sell" rating in a research note on Saturday, June 14th. Royal Bank Of Canada dropped their price target on shares of Prologis from $128.00 to $117.00 and set a "sector perform" rating on the stock in a research note on Tuesday, April 29th. Barclays dropped 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 dropped 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, Robert W. Baird lowered 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. 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 company's stock. According to MarketBeat, Prologis presently has a consensus rating of "Moderate Buy" and an average target price of $121.83.

Prologis Price Performance

Shares of NYSE PLD traded up $1.37 during mid-day trading on Wednesday, reaching $112.72. 3,451,268 shares of the company traded hands, compared to its average volume of 4,450,015. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two week high of $132.57. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.65 and a quick ratio of 0.65. The firm has a market cap of $104.63 billion, a PE ratio of 30.55, a price-to-earnings-growth ratio of 2.80 and a beta of 1.21. The stock has a fifty 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 firm had revenue of $2.03 billion during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period last year, the firm posted $1.34 earnings per share. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. Equities research analysts anticipate that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

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.