Banco Bilbao Vizcaya Argentaria S.A. Boosts Stock Position in Prologis, Inc. $PLD

Key Points

• Banco Bilbao Vizcaya Argentaria S.A. increased its stake in Prologis, Inc. by 24.9%, owning 63,758 shares valued at $7.12 million by the end of the first quarter.
• A number of analysts have recently adjusted their price targets for Prologis, with Barclays lowering its target from $132.00 to $119.00, while Citigroup reduced theirs from $150.00 to $140.00.
• Prologis reported a quarterly earnings surpassing estimates with an EPS of $1.46 and forecasted FY 2025 EPS guidance between 5.750-5.800.

Banco Bilbao Vizcaya Argentaria S.A. grew its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 24.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 63,758 shares of the real estate investment trust's stock after acquiring an additional 12,717 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in Prologis were worth $7,124,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. REAP Financial Group LLC raised its position in shares of Prologis by 40.0% in 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 in the last quarter. Pandora Wealth Inc. purchased a new stake in shares of Prologis in the first quarter worth $34,000. GKV Capital Management Co. Inc. purchased a new stake in shares of Prologis in the first quarter worth $34,000. Olde Wealth Management LLC purchased a new stake in shares of Prologis in the first quarter worth $43,000. Finally, Cornerstone Planning Group LLC raised its position 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 worth $44,000 after buying an additional 152 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on PLD shares. Barclays lowered their price objective on Prologis from $132.00 to $119.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 30th. Truist Financial lowered their price objective on Prologis from $123.00 to $120.00 and set a "buy" rating on the stock in a research report on Monday, May 5th. Mizuho set a $118.00 price objective on Prologis and gave the stock an "outperform" rating in a research report on Tuesday. Scotiabank raised their price target on Prologis from $97.00 to $100.00 and gave the company a "sector underperform" rating in a research report on Monday, May 12th. Finally, Citigroup lowered their price target on Prologis from $150.00 to $140.00 and set a "buy" rating on the stock in a research report on Wednesday, July 23rd. Two 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 company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $121.06.

Prologis Trading Down 0.6%

NYSE PLD opened at $110.14 on Thursday. The stock's 50-day simple moving average is $107.11 and its two-hundred day simple moving average is $108.94. Prologis, Inc. has a twelve month low of $85.35 and a twelve month high of $132.57. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $102.24 billion, a price-to-earnings ratio of 29.85, a PEG ratio of 2.78 and a beta of 1.21.

Prologis (NYSE:PLD - Get Free Report) last released its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $1.46 EPS for the quarter, topping the consensus estimate of $1.41 by $0.05. The firm had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.03 billion. Prologis had a return on equity of 5.96% and a net margin of 40.29%.The company's quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.34 earnings per share. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. Research analysts forecast that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.