Candriam S.C.A. Sells 4,681 Shares of Prologis, Inc. $PLD

Key Points

• Candriam S.C.A. reduced its stake in Prologis, Inc. by 4.1%, bringing its total share ownership to 109,915 shares, valued at approximately $12.29 million.
• Institutional investors collectively own 93.50% of Prologis, with Vanguard Group Inc. recently increasing its stake by 0.7% and Northern Trust Corp. increasing its stake by 54.6%.
• Prologis shares have a current consensus rating of "Moderate Buy" with a consensus price target of $121.06, following rating changes from multiple research firms, including increases from Scotiabank and Mizuho.

Candriam S.C.A. decreased its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 4.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 109,915 shares of the real estate investment trust's stock after selling 4,681 shares during the period. Candriam S.C.A.'s holdings in Prologis were worth $12,287,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Brighton Jones LLC increased its position in Prologis by 629.0% during the 4th quarter. Brighton Jones LLC now owns 17,475 shares of the real estate investment trust's stock valued at $1,847,000 after purchasing an additional 15,078 shares during the period. First Trust Advisors LP increased its position in shares of Prologis by 19.3% during the fourth quarter. First Trust Advisors LP now owns 188,928 shares of the real estate investment trust's stock valued at $19,970,000 after buying an additional 30,526 shares during the period. Dark Forest Capital Management LP increased its position in shares of Prologis by 28.6% during the fourth quarter. Dark Forest Capital Management LP now owns 4,078 shares of the real estate investment trust's stock valued at $431,000 after buying an additional 907 shares during the period. MGO One Seven LLC raised its stake in Prologis by 14.0% in the fourth quarter. MGO One Seven LLC now owns 12,282 shares of the real estate investment trust's stock worth $1,298,000 after buying an additional 1,507 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. lifted its holdings in Prologis by 8.8% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 779,100 shares of the real estate investment trust's stock worth $82,351,000 after buying an additional 63,200 shares during the period. 93.50% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Barclays decreased their target price on Prologis from $132.00 to $119.00 and set an "overweight" rating for the company in a research report on Wednesday, April 30th. Truist Financial decreased their price objective on Prologis from $123.00 to $120.00 and set a "buy" rating for the company in a report on Monday, May 5th. Wells Fargo & Company set a $137.00 price objective on Prologis and gave the company an "overweight" rating in a research report on Sunday, July 13th. Wall Street Zen downgraded shares of Prologis from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. Finally, Scotiabank increased their price target on shares of Prologis from $97.00 to $100.00 and gave the stock a "sector underperform" rating in a research note on Monday, May 12th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $121.06.

Prologis Stock Up 3.5%

Shares of PLD traded up $3.78 during trading hours on Friday, hitting $112.17. The company had a trading volume of 3,554,063 shares, compared to its average volume of 3,270,927. The stock has a market capitalization of $104.12 billion, a price-to-earnings ratio of 30.40, a P/E/G ratio of 2.82 and a beta of 1.21. The firm has a fifty day moving average price of $107.21 and a 200-day moving average price of $108.70. Prologis, Inc. has a 52-week low of $85.35 and a 52-week high of $132.57. 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 announced its quarterly earnings data 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 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%. Prologis's revenue for the quarter was up 8.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.34 EPS. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. On average, equities research analysts forecast 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.