Kayne Anderson Rudnick Investment Management LLC Reduces Position in Prologis, Inc. $PLD

Key Points

• Kayne Anderson Rudnick Investment Management LLC significantly reduced its position in Prologis, Inc. by 80.1%, holding only 30,803 shares after selling 123,848 shares in the first quarter.
• Prologis, Inc. recently reported $1.46 EPS for the quarter, exceeding analyst expectations and showing an 8.8% revenue increase year-over-year.
• Despite positive earnings, several analysts have downgraded Prologis’ stock price targets, with average target price now at $121.06, reflecting mixed market sentiment.

Kayne Anderson Rudnick Investment Management LLC cut its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 80.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,803 shares of the real estate investment trust's stock after selling 123,848 shares during the period. Kayne Anderson Rudnick Investment Management LLC's holdings in Prologis were worth $3,444,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Prologis by 0.7% during the first quarter. Vanguard Group Inc. now owns 121,339,410 shares of the real estate investment trust's stock valued at $13,564,533,000 after buying an additional 869,310 shares during the last quarter. Northern Trust Corp boosted its position in shares of Prologis by 54.6% during the fourth quarter. Northern Trust Corp now owns 13,855,339 shares of the real estate investment trust's stock valued at $1,464,509,000 after buying an additional 4,893,284 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Prologis during the first quarter valued at $1,456,768,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Prologis by 5.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,648,872 shares of the real estate investment trust's stock valued at $1,125,586,000 after buying an additional 505,318 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Prologis by 0.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 10,495,932 shares of the real estate investment trust's stock valued at $1,173,340,000 after buying an additional 93,201 shares during the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Stock Down 0.5%

NYSE PLD opened at $111.70 on Tuesday. The stock's 50-day moving average price is $107.31 and its 200-day moving average price is $108.66. 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, Inc. has a 52 week low of $85.35 and a 52 week high of $132.57. The company has a market capitalization of $103.69 billion, a P/E ratio of 30.27, a price-to-earnings-growth ratio of 2.82 and a beta of 1.21.

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

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on PLD shares. Robert W. Baird lowered their target price on Prologis from $126.00 to $120.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Citigroup lowered their target price on Prologis from $150.00 to $140.00 and set a "buy" rating on the stock in a report on Wednesday, July 23rd. Wall Street Zen downgraded Prologis from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. Truist Financial lowered their target price on Prologis from $123.00 to $120.00 and set a "buy" rating on the stock in a report on Monday, May 5th. Finally, Royal Bank Of Canada lowered their target price on Prologis from $128.00 to $117.00 and set a "sector perform" rating on the stock in a report on Tuesday, April 29th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Prologis has a consensus rating of "Moderate Buy" and an average price target of $121.06.

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.

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