Prologis, Inc. (NYSE:PLD) Shares Bought by Mitsubishi UFJ Asset Management Co. Ltd.

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Prologis, Inc. by 9.6%, acquiring an additional 200,883 shares, bringing its total holdings to approximately 2.29 million shares valued at $256.2 million.
• Multiple institutional investors, including REAP Financial Group and Focus Financial Network, have also boosted their positions in Prologis, indicating interest from the investment community.
• Prologis stock has seen analysts assign a consensus rating of "Moderate Buy" with a target price of $120.74, despite recent downgrades from several firms.

Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 9.6% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,291,758 shares of the real estate investment trust's stock after purchasing an additional 200,883 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.25% of Prologis worth $256,196,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. REAP Financial Group LLC increased its holdings in Prologis by 40.0% in the fourth quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust's stock valued at $31,000 after buying an additional 84 shares during the last quarter. Phoenix Financial Ltd. grew its holdings in shares of Prologis by 1.0% during the fourth quarter. Phoenix Financial Ltd. now owns 9,032 shares of the real estate investment trust's stock worth $955,000 after purchasing an additional 86 shares during the last quarter. CreativeOne Wealth LLC grew its holdings in shares of Prologis by 1.7% during the fourth quarter. CreativeOne Wealth LLC now owns 6,073 shares of the real estate investment trust's stock worth $642,000 after purchasing an additional 100 shares during the last quarter. Focus Financial Network Inc. grew its holdings in shares of Prologis by 5.2% during the first quarter. Focus Financial Network Inc. now owns 2,093 shares of the real estate investment trust's stock worth $234,000 after purchasing an additional 104 shares during the last quarter. Finally, Exencial Wealth Advisors LLC grew its holdings in shares of Prologis by 5.1% during the first quarter. Exencial Wealth Advisors LLC now owns 2,210 shares of the real estate investment trust's stock worth $247,000 after purchasing an additional 107 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Royal Bank Of Canada dropped their price objective on Prologis from $128.00 to $117.00 and set a "sector perform" rating on the stock in a report on Tuesday, April 29th. Morgan Stanley dropped their price objective on Prologis to $120.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. CJS Securities dropped their price objective on Prologis from $140.00 to $117.00 in a report on Friday, April 11th. UBS Group increased their target price on shares of Prologis from $106.00 to $120.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Finally, Barclays decreased 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. Two research analysts have rated the stock with a sell rating, seven have given 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.com, Prologis presently has an average rating of "Moderate Buy" and a consensus target price of $120.74.

Prologis Price Performance

Shares of PLD traded down $0.54 during mid-day trading on Friday, reaching $105.75. 1,841,649 shares of the company's stock were exchanged, compared to its average volume of 4,591,499. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.61. The company has a 50-day simple moving average of $107.43 and a two-hundred day simple moving average of $109.63. Prologis, Inc. has a 52-week low of $85.35 and a 52-week high of $132.57. The company has a market cap of $98.14 billion, a price-to-earnings ratio of 28.66, a PEG ratio of 2.66 and a beta of 1.21.

Prologis (NYSE:PLD - Get Free Report) last released its earnings results 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. The firm had revenue of $2.03 billion during the quarter, compared to analysts' expectations of $2.03 billion. Prologis had a net margin of 40.29% and a return on equity of 5.96%. Prologis's revenue for the quarter was up 8.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.34 EPS. On average, sell-side analysts predict that Prologis, Inc. will post 5.73 EPS for the current fiscal 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.