Mondrian Investment Partners LTD Has $90.25 Million Position in Prologis, Inc. (NYSE:PLD)

Key Points

• Mondrian Investment Partners LTD has reduced its stake in Prologis, owning 807,273 shares valued at $90.25 million after selling 33,117 shares in the first quarter.
• Analysts have revised Prologis's price targets downwards, with Royal Bank of Canada reducing theirs from $128.00 to $117.00, while Wells Fargo set a target of $137.00.
• Prologis reported $1.46 EPS for the latest quarter, beating estimates and showing an 8.8% revenue increase compared to the previous year.

Mondrian Investment Partners LTD reduced its position in Prologis, Inc. (NYSE:PLD - Free Report) by 3.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 807,273 shares of the real estate investment trust's stock after selling 33,117 shares during the period. Mondrian Investment Partners LTD owned approximately 0.09% of Prologis worth $90,245,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. LGT Group Foundation boosted its position in Prologis by 111.9% in the 1st quarter. LGT Group Foundation now owns 667,396 shares of the real estate investment trust's stock valued at $74,608,000 after buying an additional 352,376 shares during the last quarter. Russell Investments Group Ltd. boosted its position in Prologis by 0.8% in the 1st quarter. Russell Investments Group Ltd. now owns 3,121,609 shares of the real estate investment trust's stock valued at $348,549,000 after buying an additional 24,519 shares during the last quarter. Resona Asset Management Co. Ltd. raised its stake in shares of Prologis by 7.7% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 567,333 shares of the real estate investment trust's stock valued at $62,865,000 after purchasing an additional 40,520 shares in the last quarter. Rathbones Group PLC raised its stake in shares of Prologis by 20.2% in the 1st quarter. Rathbones Group PLC now owns 4,112 shares of the real estate investment trust's stock valued at $460,000 after purchasing an additional 691 shares in the last quarter. Finally, HighTower Advisors LLC raised its stake in shares of Prologis by 17.6% in the 1st quarter. HighTower Advisors LLC now owns 211,218 shares of the real estate investment trust's stock valued at $23,612,000 after purchasing an additional 31,684 shares in the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Robert W. Baird cut their target price on shares of Prologis from $126.00 to $120.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Wells Fargo & Company set a $137.00 target price on shares of Prologis and gave the company an "overweight" rating in a research note on Sunday, July 13th. Barclays cut their target price on shares of Prologis from $132.00 to $119.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 30th. Wolfe Research lowered shares of Prologis from an "outperform" rating to a "peer perform" rating in a research note on Monday, April 21st. Finally, Citigroup cut their target price on shares of Prologis from $150.00 to $140.00 and set a "buy" rating on the stock in a research note on Wednesday, July 23rd. Two investment analysts have rated the stock with a sell rating, six 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 currently has an average rating of "Moderate Buy" and a consensus price target of $120.33.

Prologis Price Performance

Shares of NYSE PLD traded up $0.68 during mid-day trading on Friday, reaching $106.53. 1,924,191 shares of the company traded hands, compared to its average volume of 3,687,758. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two week high of $132.57. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.65 and a quick ratio of 0.65. The firm has a market cap of $98.87 billion, a PE ratio of 28.87, a price-to-earnings-growth ratio of 2.65 and a beta of 1.21. The stock has a fifty day simple moving average of $107.13 and a 200-day simple moving average of $109.17.

Prologis (NYSE:PLD - Get Free Report) last issued its earnings results 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 analysts' expectations of $2.03 billion. Prologis had a net margin of 40.29% and a return on equity of 5.96%. The firm's revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period last year, the firm posted $1.34 earnings per share. Equities research analysts anticipate 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.