Gulf International Bank UK Ltd Reduces Position in Prologis, Inc. (NYSE:PLD)

Key Points

• Gulf International Bank UK Ltd reduced its stake in Prologis, Inc. by 27.8% in Q1, selling 20,781 shares, leaving them with 53,998 shares valued at approximately $6 million.
• Despite the reduction from Gulf International Bank, several other institutional investors increased their stakes, resulting in institutional ownership of 93.50% of Prologis's stock.
• Research analysts have mixed ratings on Prologis, with price targets ranging from $117 to $140, reflecting a consensus rating of "Moderate Buy" and an average target price of $120.33.

Gulf International Bank UK Ltd decreased its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 27.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,998 shares of the real estate investment trust's stock after selling 20,781 shares during the period. Gulf International Bank UK Ltd's holdings in Prologis were worth $6,036,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Alley Investment Management Company LLC increased its position in Prologis by 102.8% in the first quarter. Alley Investment Management Company LLC now owns 108,335 shares of the real estate investment trust's stock worth $12,111,000 after buying an additional 54,914 shares in the last quarter. First Citizens Bank & Trust Co. grew its stake in shares of Prologis by 1,451.2% during the 1st quarter. First Citizens Bank & Trust Co. now owns 31,180 shares of the real estate investment trust's stock valued at $3,486,000 after acquiring an additional 29,170 shares during the period. Truist Financial Corp increased its holdings in Prologis by 9.3% in the 1st quarter. Truist Financial Corp now owns 297,270 shares of the real estate investment trust's stock worth $33,232,000 after acquiring an additional 25,229 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Prologis by 2.2% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 297,426 shares of the real estate investment trust's stock worth $33,249,000 after acquiring an additional 6,350 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC raised its stake in Prologis by 3.1% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 5,506 shares of the real estate investment trust's stock worth $615,000 after acquiring an additional 167 shares during the period. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Prologis Price Performance

Shares of Prologis stock traded up $0.68 during trading hours on Friday, reaching $106.53. The company's stock had a trading volume of 1,924,191 shares, compared to its average volume of 3,687,758. The firm has a 50 day moving average price of $107.13 and a 200-day moving average price of $109.10. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.65 and a quick ratio of 0.65. The stock has a market cap of $98.87 billion, a P/E ratio of 28.87, a P/E/G ratio of 2.67 and a beta of 1.21. Prologis, Inc. has a one year low of $85.35 and a one year high of $132.57.

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 for the quarter, topping the consensus estimate of $1.41 by $0.05. The company had revenue of $2.03 billion for the quarter, compared to analysts' expectations of $2.03 billion. Prologis had a return on equity of 5.96% and a net margin of 40.29%. The firm's revenue for the quarter was up 8.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.34 earnings per share. On average, analysts predict that Prologis, Inc. will post 5.73 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PLD. Truist Financial dropped their price target on shares of Prologis from $123.00 to $120.00 and set a "buy" rating for the company in a research report on Monday, May 5th. Robert W. Baird cut their price target on Prologis from $126.00 to $120.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Wolfe Research cut Prologis from an "outperform" rating to a "peer perform" rating in a report on Monday, April 21st. Royal Bank Of Canada lowered their price objective on Prologis from $128.00 to $117.00 and set a "sector perform" rating on the stock in a research report on Tuesday, April 29th. Finally, Citigroup dropped their price objective on Prologis from $150.00 to $140.00 and set a "buy" rating for the company in a research note on Wednesday, July 23rd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $120.33.

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.