Prologis, Inc. $PLD Shares Sold by Northern Trust Corp

Key Points

• Northern Trust Corp reduced its stake in Prologis, Inc. by 0.5% during the first quarter, owning approximately $1.54 billion worth of shares at the end of the quarter.
• Research analysts have issued mixed ratings for Prologis, with two sell ratings, six holds, ten buys, and two strong buys, leading to a consensus target price of $120.33.
• Prologis reported $1.46 EPS for the last quarter, exceeding analysts' expectations by $0.05, with an revenue of $2.03 billion.

Northern Trust Corp lessened its position in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 0.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 13,784,633 shares of the real estate investment trust's stock after selling 70,706 shares during the quarter. Northern Trust Corp owned approximately 1.49% of Prologis worth $1,540,984,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. REAP Financial Group LLC lifted its position in Prologis by 40.0% during the 4th quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust's stock worth $31,000 after acquiring an additional 84 shares in the last quarter. LaSalle St. Investment Advisors LLC lifted its position in Prologis by 3.7% during the 1st quarter. LaSalle St. Investment Advisors LLC now owns 2,688 shares of the real estate investment trust's stock worth $300,000 after acquiring an additional 96 shares in the last quarter. Focus Financial Network Inc. lifted its position in Prologis by 5.2% during the 1st quarter. Focus Financial Network Inc. now owns 2,093 shares of the real estate investment trust's stock worth $234,000 after acquiring an additional 104 shares in the last quarter. Exencial Wealth Advisors LLC lifted its position in Prologis by 5.1% during the 1st quarter. Exencial Wealth Advisors LLC now owns 2,210 shares of the real estate investment trust's stock worth $247,000 after acquiring an additional 107 shares in the last quarter. Finally, Cary Street Partners Financial LLC lifted its position in Prologis by 11.8% during the 1st quarter. Cary Street Partners Financial LLC now owns 1,042 shares of the real estate investment trust's stock worth $117,000 after acquiring an additional 110 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company's stock.

Prologis Stock Performance

NYSE PLD traded down $1.9410 during trading hours on Thursday, hitting $108.2390. The company had a trading volume of 3,045,671 shares, compared to its average volume of 4,473,736. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two week high of $132.57. 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 business has a fifty day simple moving average of $107.11 and a 200-day simple moving average of $108.94. The firm has a market cap of $100.47 billion, a P/E ratio of 29.33, a price-to-earnings-growth ratio of 2.78 and a beta of 1.21.

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 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 firm had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same period last year, the company earned $1.34 earnings per share. The firm's revenue for the quarter was up 8.8% on a year-over-year basis. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. Equities analysts predict that Prologis, Inc. will post 5.73 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PLD. Robert W. Baird reduced their price target on Prologis from $126.00 to $120.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. Citigroup reduced their target price on Prologis from $150.00 to $140.00 and set a "buy" rating for the company in a research note on Wednesday, July 23rd. Scotiabank increased their target price on Prologis from $97.00 to $100.00 and gave the company a "sector underperform" rating in a research note on Monday, May 12th. Truist Financial reduced their target price on Prologis from $123.00 to $120.00 and set a "buy" rating for the company in a research note on Monday, May 5th. Finally, Mizuho set a $118.00 target price on Prologis and gave the company an "outperform" rating in a research note on Tuesday. 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 issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price 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.