Kovitz Investment Group Partners LLC Has $2.41 Million Holdings in Prologis, Inc. $PLD

Key Points

• Kovitz Investment Group Partners LLC increased its stake in Prologis, Inc. by 187.9%, acquiring an additional 14,071 shares, bringing its total holdings to $2.41 million at the end of the last quarter.
• Prologis reported a quarterly EPS of $1.46, exceeding analyst expectations, with revenues of $2.03 billion, representing an 8.8% year-over-year increase.
• Wall Street analysts have mixed ratings for Prologis, with an average price target of $121.06, reflecting a consensus rating of "Moderate Buy" among 19 analysts.

Kovitz Investment Group Partners LLC raised its position in Prologis, Inc. (NYSE:PLD - Free Report) by 187.9% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 21,559 shares of the real estate investment trust's stock after buying an additional 14,071 shares during the period. Kovitz Investment Group Partners LLC's holdings in Prologis were worth $2,410,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Cookson Peirce & Co. Inc. boosted its position in Prologis by 18.2% in the 1st quarter. Cookson Peirce & Co. Inc. now owns 5,301 shares of the real estate investment trust's stock valued at $593,000 after buying an additional 816 shares during the last quarter. Vestmark Advisory Solutions Inc. boosted its position in Prologis by 40.2% in the 1st quarter. Vestmark Advisory Solutions Inc. now owns 14,778 shares of the real estate investment trust's stock valued at $1,652,000 after buying an additional 4,240 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its stake in shares of Prologis by 5.4% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 27,840 shares of the real estate investment trust's stock valued at $3,112,000 after purchasing an additional 1,437 shares during the period. S Bank Fund Management Ltd acquired a new position in shares of Prologis in the 1st quarter valued at $8,913,000. Finally, National Pension Service lifted its stake in shares of Prologis by 8.3% in the 1st quarter. National Pension Service now owns 2,189,737 shares of the real estate investment trust's stock valued at $244,791,000 after purchasing an additional 167,031 shares during the period. 93.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PLD. Royal Bank Of Canada cut their price target on Prologis from $128.00 to $117.00 and set a "sector perform" rating on the stock in a research note on Tuesday, April 29th. Scotiabank increased 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. Citigroup cut their price target on Prologis from $150.00 to $140.00 and set a "buy" rating on the stock in a research note on Wednesday, July 23rd. Finally, Barclays cut their price target on Prologis from $132.00 to $119.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 30th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Prologis presently has a consensus rating of "Moderate Buy" and a consensus price target of $121.06.

Prologis Trading Down 1.8%

Shares of PLD traded down $1.9410 during trading hours on Thursday, reaching $108.2390. The stock had a trading volume of 3,045,671 shares, compared to its average volume of 4,473,736. 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 firm has a 50-day moving average of $107.11 and a 200 day moving average of $108.94. The company has a market cap of $100.47 billion, a P/E ratio of 29.33, a P/E/G ratio of 2.78 and a beta of 1.21.

Prologis (NYSE:PLD - Get Free Report) last released its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $1.46 EPS for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $2.03 billion. During the same quarter in the prior year, the company earned $1.34 EPS. The firm's quarterly revenue was up 8.8% on a year-over-year basis. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. On average, sell-side analysts expect that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

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.