Foster Dykema Cabot & Partners LLC Lowers Position in Prologis, Inc. (NYSE:PLD)

Key Points

• Foster Dykema Cabot & Partners LLC significantly reduced its stake in Prologis, Inc. by 72.7%, now holding 7,505 shares valued at $839,000.
• Several institutional investors have adjusted their holdings in Prologis, including Charles Schwab Investment Management, which increased its position by 0.9% to over $1.17 billion.
• Analyst ratings for Prologis show mixed sentiment, with ten analysts giving a buy rating and others reducing price targets, reflecting a general price forecast around $120.74.

Foster Dykema Cabot & Partners LLC decreased its position in Prologis, Inc. (NYSE:PLD - Free Report) by 72.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,505 shares of the real estate investment trust's stock after selling 19,942 shares during the period. Foster Dykema Cabot & Partners LLC's holdings in Prologis were worth $839,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of Prologis by 0.9% in the 1st 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 acquiring an additional 93,201 shares during the last quarter. ASR Vermogensbeheer N.V. acquired a new position in shares of Prologis in the 1st quarter worth approximately $12,462,000. Cornerstone Advisors LLC lifted its holdings in shares of Prologis by 63.8% in the 1st quarter. Cornerstone Advisors LLC now owns 13,100 shares of the real estate investment trust's stock worth $1,464,000 after acquiring an additional 5,100 shares during the last quarter. Strategy Asset Managers LLC lifted its holdings in shares of Prologis by 12.3% in the 1st quarter. Strategy Asset Managers LLC now owns 3,316 shares of the real estate investment trust's stock worth $371,000 after acquiring an additional 362 shares during the last quarter. Finally, Exencial Wealth Advisors LLC lifted its holdings in shares of 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 acquiring an additional 107 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Robert W. Baird decreased their price objective on shares of Prologis from $126.00 to $120.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. CJS Securities reduced their target price on shares of Prologis from $140.00 to $117.00 in a report on Friday, April 11th. Morgan Stanley reduced their target price on shares of Prologis to $120.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. Mizuho reduced their target price on shares of Prologis from $117.00 to $105.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Finally, Wall Street Zen lowered shares of Prologis from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $120.74.

Prologis Stock Performance

Prologis stock traded down $0.54 during midday trading on Friday, hitting $105.75. 1,841,649 shares of the company's stock were exchanged, compared to its average volume of 4,591,499. Prologis, Inc. has a 12-month low of $85.35 and a 12-month 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. The stock has a market cap of $98.14 billion, a price-to-earnings ratio of 28.66, a price-to-earnings-growth ratio of 2.66 and a beta of 1.21. The firm's 50 day simple moving average is $107.43 and its 200 day simple moving average is $109.63.

Prologis (NYSE:PLD - Get Free Report) last issued its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, topping 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 company had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period last year, the firm posted $1.34 EPS. Prologis's revenue for the quarter was up 8.8% on a year-over-year basis. Equities research analysts predict that Prologis, Inc. will post 5.73 EPS for the current year.

About Prologis

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.