Corebridge Financial Inc. Lowers Position in Prologis, Inc. $PLD

Key Points

• Corebridge Financial Inc. reduced its stake in Prologis, Inc. by 3.5% during the first quarter, now holding 240,917 shares valued at approximately $26.93 million.
• Prologis reported a quarterly earnings per share (EPS) of $1.46, exceeding estimates and reflecting an 8.8% increase in revenue compared to the same quarter last year.
• Institutional ownership of Prologis stands at 93.50%, with several investors modifying their holdings during the fourth quarter, indicating strong interest in the stock.

Corebridge Financial Inc. trimmed its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 3.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 240,917 shares of the real estate investment trust's stock after selling 8,756 shares during the quarter. Corebridge Financial Inc.'s holdings in Prologis were worth $26,932,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. REAP Financial Group LLC lifted its stake in Prologis by 40.0% in the 4th quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust's stock worth $31,000 after purchasing an additional 84 shares in the last quarter. LaSalle St. Investment Advisors LLC lifted its stake in Prologis by 3.7% in the 1st quarter. LaSalle St. Investment Advisors LLC now owns 2,688 shares of the real estate investment trust's stock worth $300,000 after purchasing an additional 96 shares in the last quarter. Van Hulzen Asset Management LLC lifted its stake in Prologis by 5.6% in the 1st quarter. Van Hulzen Asset Management LLC now owns 1,799 shares of the real estate investment trust's stock worth $201,000 after purchasing an additional 96 shares in the last quarter. Focus Financial Network Inc. lifted its stake in Prologis by 5.2% in the 1st quarter. Focus Financial Network Inc. now owns 2,093 shares of the real estate investment trust's stock worth $234,000 after purchasing an additional 104 shares in the last quarter. Finally, Exencial Wealth Advisors LLC lifted its stake in Prologis by 5.1% in the 1st quarter. Exencial Wealth Advisors LLC now owns 2,210 shares of the real estate investment trust's stock worth $247,000 after purchasing an additional 107 shares in the last quarter. Institutional investors own 93.50% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on PLD. UBS Group increased their target price on shares of Prologis from $106.00 to $120.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Mizuho set a $118.00 target price on shares of Prologis and gave the stock an "outperform" rating in a research note on Tuesday, August 19th. Wells Fargo & Company set a $137.00 target price on shares of Prologis and gave the stock an "overweight" rating in a research note on Sunday, July 13th. Truist Financial lowered their price objective on shares of Prologis from $123.00 to $120.00 and set a "buy" rating on the stock in a research report on Monday, May 5th. Finally, Citigroup lowered their price objective on shares of Prologis from $150.00 to $140.00 and set a "buy" rating on the stock in a research report on Wednesday, July 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $121.83.

Prologis Trading Up 0.0%

NYSE:PLD traded up $0.05 during trading hours on Thursday, reaching $112.73. The company's stock had a trading volume of 2,549,104 shares, compared to its average volume of 3,263,601. The firm has a market capitalization of $104.64 billion, a price-to-earnings ratio of 30.55, a PEG ratio of 2.83 and a beta of 1.21. The firm has a 50-day simple moving average of $107.59 and a 200-day simple moving average of $108.70. Prologis, Inc. has a 1 year low of $85.35 and a 1 year 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 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. Prologis had a net margin of 40.29% and a return on equity of 5.96%. The company had revenue of $2.03 billion for the quarter, compared to analysts' expectations of $2.03 billion. During the same quarter last year, the company earned $1.34 EPS. The firm's revenue was up 8.8% compared to the same quarter last year. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. Research analysts expect that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Insider Activity

In other Prologis news, CAO Lori A. Palazzolo sold 25,000 shares of the business's stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $111.33, for a total value of $2,783,250.00. Following the transaction, the chief accounting officer owned 414 shares in the company, valued at approximately $46,090.62. The trade was a 98.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.57% of the company's stock.

Prologis Company 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.