Invesco Ltd. Cuts Stock Holdings in Prologis, Inc. (NYSE:PLD)

Key Points

• Invesco Ltd. has reduced its stake in Prologis, Inc. by 3.1%, now holding approximately 11.2 million shares worth about $1.25 billion.
• Prologis reported an EPS of $1.46 for the last quarter, beating analyst estimates, while revenue increased by 8.8% year-over-year.
• The average analyst rating for Prologis is a "Moderate Buy," with a consensus target price of $120.74 per share.

Invesco Ltd. lowered its position in Prologis, Inc. (NYSE:PLD - Free Report) by 3.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,212,792 shares of the real estate investment trust's stock after selling 364,664 shares during the quarter. Invesco Ltd. owned approximately 1.21% of Prologis worth $1,253,478,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. REAP Financial Group LLC raised 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 acquiring an additional 84 shares during the last quarter. Pandora Wealth Inc. purchased a new position in shares of Prologis during the 1st quarter valued at about $34,000. Olde Wealth Management LLC purchased a new position in shares of Prologis during the 1st quarter valued at about $43,000. Cornerstone Planning Group LLC raised its stake in shares of Prologis by 63.6% during the 1st quarter. Cornerstone Planning Group LLC now owns 391 shares of the real estate investment trust's stock valued at $44,000 after buying an additional 152 shares during the last quarter. Finally, Missouri Trust & Investment Co raised its stake in shares of Prologis by 59.6% during the 1st quarter. Missouri Trust & Investment Co now owns 399 shares of the real estate investment trust's stock valued at $45,000 after buying an additional 149 shares during the last quarter. Institutional investors own 93.50% of the company's stock.

Analyst Ratings Changes

PLD has been the subject of several recent analyst reports. Evercore ISI cut their price target on Prologis from $111.00 to $106.00 and set an "in-line" rating for the company in a research note on Thursday, April 17th. Royal Bank Of Canada cut their price target on Prologis from $128.00 to $117.00 and set a "sector perform" rating for the company in a research note on Tuesday, April 29th. Scotiabank lifted their price target on Prologis from $97.00 to $100.00 and gave the company a "sector underperform" rating in a research note on Monday, May 12th. Wells Fargo & Company set a $137.00 price target on Prologis and gave the company an "overweight" rating in a research note on Sunday, July 13th. Finally, Truist Financial lowered their price objective on Prologis from $123.00 to $120.00 and set a "buy" rating on the stock in a report on Monday, May 5th. Two research 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. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $120.33.

Prologis Stock Up 0.4%

NYSE:PLD traded up $0.38 during trading hours on Wednesday, hitting $105.19. The company's stock had a trading volume of 138,352 shares, compared to its average volume of 4,526,239. The stock has a market capitalization of $97.62 billion, a P/E ratio of 28.53, a price-to-earnings-growth ratio of 2.61 and a beta of 1.21. The stock has a fifty day moving average of $107.26 and a 200-day moving average of $109.39. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.61. Prologis, Inc. has a 52-week low of $85.35 and a 52-week high of $132.57.

Prologis (NYSE:PLD - Get Free Report) last announced its 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. Prologis had a net margin of 40.29% and a return on equity of 5.96%. The business had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the prior year, the firm earned $1.34 earnings per share. The business's quarterly revenue was up 8.8% compared to the same quarter last year. On average, equities analysts forecast that Prologis, Inc. will post 5.73 earnings per share for the current year.

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.