Connor Clark & Lunn Investment Management Ltd. cut its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 60.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 42,120 shares of the real estate investment trust's stock after selling 64,860 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in Prologis were worth $4,709,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Prologis by 0.7% during the first quarter. Vanguard Group Inc. now owns 121,339,410 shares of the real estate investment trust's stock worth $13,564,533,000 after buying an additional 869,310 shares during the period. Northern Trust Corp boosted its position in shares of 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 worth $1,464,509,000 after buying an additional 4,893,284 shares during the period. Capital Research Global Investors boosted its position in shares of 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 worth $1,304,922,000 after buying an additional 2,500,761 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of 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 worth $1,125,586,000 after buying an additional 505,318 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Prologis by 0.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 10,495,932 shares of the real estate investment trust's stock worth $1,173,340,000 after buying an additional 93,201 shares during the period. 93.50% of the stock is currently owned by institutional investors and hedge funds.
Prologis Stock Up 0.6%
Shares of Prologis stock traded up $0.68 on Friday, hitting $106.53. 1,924,191 shares of the company traded hands, compared to its average volume of 3,687,758. The company has a 50-day moving average price of $107.13 and a 200 day moving average price of $109.10. 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 12-month low of $85.35 and a 12-month high of $132.57. The company has a market cap of $98.87 billion, a PE ratio of 28.87, a PEG ratio of 2.67 and a beta of 1.21.
Prologis (NYSE:PLD - Get Free Report) last posted its quarterly earnings results 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. Prologis had a net margin of 40.29% and a return on equity of 5.96%. The business had revenue of $2.03 billion for the quarter, compared to analysts' expectations of $2.03 billion. During the same period in the previous year, the company posted $1.34 EPS. Prologis's revenue was up 8.8% on a year-over-year basis. Sell-side analysts predict that Prologis, Inc. will post 5.73 earnings per share for the current year.
Wall Street Analyst Weigh In
Several equities analysts have recently issued reports on the company. Wells Fargo & Company set a $137.00 price objective on Prologis and gave the stock an "overweight" rating in a research report on Sunday, July 13th. Wall Street Zen downgraded Prologis from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. Robert W. Baird cut their target price on Prologis from $126.00 to $120.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Scotiabank upped their target price on Prologis from $97.00 to $100.00 and gave the stock a "sector underperform" rating in a research report on Monday, May 12th. Finally, Truist Financial cut their target price on Prologis from $123.00 to $120.00 and set a "buy" rating for the company in a research report on Monday, May 5th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $120.33.
Check Out Our Latest Report on PLD
About Prologis
(
Free Report)
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.
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