Erste Asset Management GmbH Sells 40,291 Shares of Prologis, Inc. $PLD

Key Points

• Erste Asset Management GmbH has reduced its position in Prologis, Inc. by 34.3%, now owning 77,164 shares valued at approximately $8.5 million.
• Several hedge funds have notably increased their stakes in Prologis during the last quarter, with Brighton Jones LLC's stake growing by an impressive 629.0%.
• An array of analysts have adjusted their price targets for Prologis, with Royal Bank of Canada lowering theirs from $128.00 to $117.00, while UBS Group raised theirs to $120.00 and gave a "buy" rating.

Erste Asset Management GmbH trimmed its position in Prologis, Inc. (NYSE:PLD - Free Report) by 34.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 77,164 shares of the real estate investment trust's stock after selling 40,291 shares during the period. Erste Asset Management GmbH's holdings in Prologis were worth $8,526,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. REAP Financial Group LLC raised its position in shares of Prologis by 40.0% in the 4th quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust's stock valued at $31,000 after acquiring an additional 84 shares during the period. Pandora Wealth Inc. acquired a new stake in Prologis during the 1st quarter worth approximately $34,000. GKV Capital Management Co. Inc. acquired a new stake in Prologis during the 1st quarter worth approximately $34,000. Olde Wealth Management LLC acquired a new stake in Prologis during the 1st quarter worth approximately $43,000. Finally, Cornerstone Planning Group LLC raised its holdings in Prologis by 63.6% during the 1st quarter. Cornerstone Planning Group LLC now owns 391 shares of the real estate investment trust's stock worth $44,000 after buying an additional 152 shares during the period. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Stock Up 3.5%

Shares of PLD traded up $3.78 during mid-day trading on Friday, hitting $112.17. 3,554,063 shares of the company's stock were exchanged, compared to its average volume of 3,200,757. The company has a market cap of $104.12 billion, a PE ratio of 30.40, a P/E/G ratio of 2.82 and a beta of 1.21. Prologis, Inc. has a 52 week low of $85.35 and a 52 week high of $132.57. The company has a 50-day simple moving average of $107.21 and a 200 day simple moving average of $108.77. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.65 and a quick ratio of 0.65.

Prologis (NYSE:PLD - Get Free Report) last issued its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.05. The company had revenue of $2.03 billion during the quarter, compared to analysts' expectations of $2.03 billion. Prologis had a net margin of 40.29% and a return on equity of 5.96%. The business's quarterly revenue was up 8.8% on a year-over-year basis. During the same period last year, the business earned $1.34 EPS. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. On average, research analysts forecast that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Citigroup dropped their target price on shares of Prologis from $150.00 to $140.00 and set a "buy" rating on the stock in a report on Wednesday, July 23rd. Mizuho set a $118.00 target price on shares of Prologis and gave the stock an "outperform" rating in a report on Tuesday, August 19th. Scotiabank raised their target price on shares of Prologis from $97.00 to $100.00 and gave the stock a "sector underperform" rating in a report on Monday, May 12th. Truist Financial dropped their target price on shares of Prologis from $123.00 to $120.00 and set a "buy" rating on the stock in a report on Monday, May 5th. Finally, UBS Group raised their target price on shares of Prologis from $106.00 to $120.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $121.06.

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.