Charles Schwab Investment Management Inc. Acquires 93,201 Shares of Prologis, Inc. (NYSE:PLD)

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Prologis by 0.9% in Q1, now owning approximately 10.5 million shares valued at $1.17 billion.
• Analysts have revised their price targets for Prologis, with a consensus rating of "Moderate Buy" and an average price target of $120.74.
• Prologis reported a quarterly earnings per share (EPS) of $1.46, exceeding expectations and marking an 8.8% revenue increase year-over-year.

Charles Schwab Investment Management Inc. increased its position in Prologis, Inc. (NYSE:PLD - Free Report) by 0.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,495,932 shares of the real estate investment trust's stock after buying an additional 93,201 shares during the period. Charles Schwab Investment Management Inc. owned 1.13% of Prologis worth $1,173,340,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Prologis by 0.7% during the 1st 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 acquiring an additional 869,310 shares during the last quarter. Cohen & Steers Inc. increased its position in Prologis by 3.2% in the fourth quarter. Cohen & Steers Inc. now owns 28,331,750 shares of the real estate investment trust's stock worth $2,994,557,000 after purchasing an additional 882,529 shares during the last quarter. Northern Trust Corp raised its stake in Prologis by 54.6% during 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 in the last quarter. Capital Research Global Investors lifted its position in Prologis by 25.4% during the fourth quarter. Capital Research Global Investors now owns 12,345,523 shares of the real estate investment trust's stock valued at $1,304,922,000 after purchasing an additional 2,500,761 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Prologis by 5.0% during 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 last quarter. 93.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PLD has been the topic of a number of research reports. 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. Mizuho reduced their price objective on Prologis from $117.00 to $105.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Truist Financial decreased 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. Wells Fargo & Company set a $137.00 target price on Prologis and gave the stock an "overweight" rating in a report on Sunday, July 13th. Finally, Robert W. Baird cut their target price on Prologis from $126.00 to $120.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $120.74.

Prologis Trading Down 0.5%

PLD traded down $0.54 on Friday, reaching $105.75. 1,841,649 shares of the company traded hands, compared to its average volume of 4,591,499. The company has a market cap of $98.14 billion, a P/E ratio of 28.66, a price-to-earnings-growth ratio of 2.66 and a beta of 1.21. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.61. Prologis, Inc. has a one year low of $85.35 and a one year high of $132.57. The firm has a fifty day simple moving average of $107.43 and a two-hundred day simple moving average of $109.63.

Prologis (NYSE:PLD - Get Free Report) last issued its earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 EPS 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 analyst estimates of $2.03 billion. Prologis had a net margin of 40.29% and a return on equity of 5.96%. The company's quarterly revenue was up 8.8% compared to the same quarter last year. During the same period last year, the company posted $1.34 earnings per share. As a group, equities research analysts expect that Prologis, Inc. will post 5.73 earnings per share for the current 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.