Korea Investment CORP Trims Holdings in Prologis, Inc. $PLD

Key Points

• Korea Investment CORP has decreased its stake in Prologis, Inc. by selling 8,050 shares, resulting in ownership of approximately 630,622 shares worth about $70.5 million.
• Analyst ratings for Prologis show a consensus of "Moderate Buy" with an average price target of $120.33, amidst various recent adjustments in their price objectives.
• Prologis reported $1.46 EPS for the last quarter, surpassing estimates, with a revenue of $2.03 billion, marking an 8.8% increase year-over-year.

Korea Investment CORP reduced its position in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 1.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 630,622 shares of the real estate investment trust's stock after selling 8,050 shares during the period. Korea Investment CORP owned 0.07% of Prologis worth $70,497,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in PLD. Nuveen LLC purchased a new stake in Prologis during the first quarter worth about $1,456,768,000. Northern Trust Corp increased its holdings in 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 worth $1,464,509,000 after buying an additional 4,893,284 shares during the last quarter. Valeo Financial Advisors LLC increased its holdings in Prologis by 282.5% during the first quarter. Valeo Financial Advisors LLC now owns 3,875,386 shares of the real estate investment trust's stock worth $433,229,000 after buying an additional 2,862,183 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its holdings in Prologis by 83.8% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,779,830 shares of the real estate investment trust's stock worth $399,528,000 after buying an additional 1,723,129 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Prologis during the fourth quarter worth about $163,970,000. 93.50% of the stock is owned by institutional investors.

Prologis Price Performance

Prologis stock traded down $1.9410 during mid-day trading on Thursday, hitting $108.2390. 3,045,671 shares of the company traded hands, compared to its average volume of 4,473,736. Prologis, Inc. has a one year low of $85.35 and a one year high of $132.57. The stock has a market cap of $100.47 billion, a price-to-earnings ratio of 29.33, a price-to-earnings-growth ratio of 2.78 and a beta of 1.21. 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 fifty day moving average price of $107.11 and a 200-day moving average price of $108.94.

Prologis (NYSE:PLD - Get Free Report) last announced its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share for the quarter, topping analysts' consensus estimates of $1.41 by $0.05. The firm had revenue of $2.03 billion during the quarter, compared to analyst estimates 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 in the previous year, the business posted $1.34 EPS. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. On average, equities analysts predict that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently issued reports on PLD. Truist Financial decreased their price objective on shares of Prologis from $123.00 to $120.00 and set a "buy" rating for the company in a report on Monday, May 5th. Royal Bank Of Canada reduced their target price on shares of Prologis from $128.00 to $117.00 and set a "sector perform" rating for the company in a research note on Tuesday, April 29th. Barclays reduced their target price on shares of Prologis from $132.00 to $119.00 and set an "overweight" rating for the company in a research note on Wednesday, April 30th. Citigroup reduced their target price on shares of Prologis from $150.00 to $140.00 and set a "buy" rating for the company in a research note on Wednesday, July 23rd. Finally, Scotiabank lifted their target price on shares of Prologis from $97.00 to $100.00 and gave the stock a "sector underperform" rating in a research note on Monday, May 12th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Prologis has an average 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.