National Bank of Canada FI Boosts Position in Prologis, Inc. (NYSE:PLD)

Key Points

• National Bank of Canada FI increased its holdings in Prologis, Inc. by 88.3% during Q1, acquiring an additional 449,012 shares, bringing its total to approximately 957,289 shares, valued at $107 million.
• The stock price target for Prologis has seen multiple adjustments, with Citigroup lowering it from $150 to $140 and BMO Capital Markets reducing it from $105 to $95, reflecting a mixed sentiment among analysts.
• Prologis reported earnings of $1.46 per share in its last quarterly earnings release, surpassing analyst expectations of $1.41 per share, with revenue of $2.03 billion, up 8.8% from the previous year.

National Bank of Canada FI raised its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 88.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 957,289 shares of the real estate investment trust's stock after purchasing an additional 449,012 shares during the quarter. National Bank of Canada FI owned approximately 0.10% of Prologis worth $107,015,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. LaSalle St. Investment Advisors LLC increased its holdings in Prologis by 3.7% in the first quarter. LaSalle St. Investment Advisors LLC now owns 2,688 shares of the real estate investment trust's stock valued at $300,000 after purchasing an additional 96 shares during the last quarter. AMF Tjanstepension AB boosted its position in Prologis by 12.4% during the first quarter. AMF Tjanstepension AB now owns 2,913,691 shares of the real estate investment trust's stock valued at $325,874,000 after purchasing an additional 320,827 shares during the last quarter. Fayez Sarofim & Co raised its stake in Prologis by 4.9% in the first quarter. Fayez Sarofim & Co now owns 92,272 shares of the real estate investment trust's stock valued at $10,315,000 after buying an additional 4,326 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Prologis by 9.6% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,291,758 shares of the real estate investment trust's stock worth $256,196,000 after buying an additional 200,883 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in 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 worth $1,173,340,000 after acquiring an additional 93,201 shares during the period. Institutional investors own 93.50% of the company's stock.

Prologis Price Performance

Shares of Prologis stock traded up $0.82 during trading on Wednesday, reaching $105.63. 913,731 shares of the stock traded hands, compared to its average volume of 4,531,140. The company has a market capitalization of $98.03 billion, a price-to-earnings ratio of 28.63, a P/E/G ratio of 2.61 and a beta of 1.21. Prologis, Inc. has a 52-week low of $85.35 and a 52-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 business has a fifty day simple moving average of $107.26 and a two-hundred day simple moving average of $109.39.

Prologis (NYSE:PLD - Get Free Report) last released its quarterly 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. Prologis had a return on equity of 5.96% and a net margin of 40.29%. The company had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same quarter last year, the business posted $1.34 earnings per share. The firm's revenue was up 8.8% on a year-over-year basis. Sell-side analysts expect that Prologis, Inc. will post 5.73 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Robert W. Baird lowered their price objective on Prologis from $126.00 to $120.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Royal Bank Of Canada reduced 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. Barclays reduced their target price on Prologis from $132.00 to $119.00 and set an "overweight" rating on the stock in a report on Wednesday, April 30th. Citigroup reduced 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. Finally, Wall Street Zen downgraded Prologis from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $120.33.

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.