Dimensional Fund Advisors LP Reduces Stake in Prologis, Inc. $PLD

Key Points

• Dimensional Fund Advisors LP reduced its stake in Prologis, Inc. by 3.0%, selling 396,535 shares and now holds approximately 12.7 million shares, representing about 0.4% of its portfolio.
• Prologis reported a quarterly earnings per share (EPS) of $1.46, beating analyst expectations of $1.41, with a revenue of $2.03 billion.
• Analysts have mixed views on Prologis' stock, with target prices ranging from $97.00 to $132.00, while it currently holds an average rating of "Moderate Buy."

Dimensional Fund Advisors LP lowered its position in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 3.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,726,673 shares of the real estate investment trust's stock after selling 396,535 shares during the period. Prologis comprises approximately 0.4% of Dimensional Fund Advisors LP's holdings, making the stock its 27th largest holding. Dimensional Fund Advisors LP owned about 1.37% of Prologis worth $1,422,659,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. REAP Financial Group LLC raised its stake in shares of Prologis by 40.0% during the 4th 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 during the period. Pandora Wealth Inc. purchased a new position in shares of Prologis during the 1st quarter worth $34,000. GKV Capital Management Co. Inc. purchased a new position in Prologis during the 1st quarter valued at about $34,000. Olde Wealth Management LLC acquired a new stake in Prologis in the 1st quarter valued at about $43,000. Finally, Cornerstone Planning Group LLC raised its position in Prologis by 63.6% in the 1st quarter. Cornerstone Planning Group LLC now owns 391 shares of the real estate investment trust's stock valued at $44,000 after purchasing an additional 152 shares in the last quarter. Institutional investors own 93.50% of the company's stock.

Prologis Stock Performance

Shares of PLD traded up $0.68 during mid-day trading on Friday, hitting $106.53. 1,924,191 shares of the company's stock were exchanged, compared to its average volume of 3,559,894. Prologis, Inc. has a 52 week low of $85.35 and a 52 week high of $132.57. The stock's 50-day simple moving average is $107.13 and its 200-day simple moving average is $109.02. The firm has a market cap of $98.87 billion, a price-to-earnings ratio of 28.87, a price-to-earnings-growth ratio of 2.67 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 (NYSE:PLD - Get Free Report) last issued its earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share for the quarter, beating analysts' consensus estimates of $1.41 by $0.05. The firm 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% on a year-over-year basis. During the same quarter last year, the business posted $1.34 earnings per share. On average, equities research analysts expect that Prologis, Inc. will post 5.73 EPS for the current year.

Wall Street Analyst Weigh In

PLD has been the topic of a number of research reports. UBS Group raised their price target on Prologis from $106.00 to $120.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Truist Financial cut their price target on Prologis from $123.00 to $120.00 and set a "buy" rating for the company in a report on Monday, May 5th. Wall Street Zen lowered Prologis from a "hold" rating to a "sell" rating in a research note on Saturday, June 14th. Robert W. Baird lowered their price target on Prologis from $126.00 to $120.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Finally, Wolfe Research downgraded Prologis from an "outperform" rating to a "peer perform" rating in a report on Monday, April 21st. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $120.33.

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.