Resona Asset Management Co. Ltd. increased its position in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 7.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 567,333 shares of the real estate investment trust's stock after buying an additional 40,520 shares during the period. Resona Asset Management Co. Ltd. owned 0.06% of Prologis worth $62,865,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Prologis by 0.7% in the first quarter. Vanguard Group Inc. now owns 121,339,410 shares of the real estate investment trust's stock valued at $13,564,533,000 after acquiring an additional 869,310 shares during the period. Cohen & Steers Inc. lifted its position in Prologis by 3.2% during the fourth quarter. Cohen & Steers Inc. now owns 28,331,750 shares of the real estate investment trust's stock worth $2,994,557,000 after purchasing an additional 882,529 shares during the period. Northern Trust Corp lifted its position in Prologis by 54.6% during the fourth quarter. Northern Trust Corp now owns 13,855,339 shares of the real estate investment trust's stock worth $1,464,509,000 after purchasing an additional 4,893,284 shares during the period. Nuveen LLC bought a new stake in Prologis during the first quarter worth about $1,456,768,000. Finally, Capital Research Global Investors lifted its position in Prologis by 25.4% during the fourth quarter. Capital Research Global Investors now owns 12,345,523 shares of the real estate investment trust's stock worth $1,304,922,000 after purchasing an additional 2,500,761 shares during the period. 93.50% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research analysts have commented on PLD shares. Robert W. Baird lowered their target price on Prologis from $126.00 to $120.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Barclays lowered their target price on Prologis from $132.00 to $119.00 and set an "overweight" rating for the company in a research note on Wednesday, April 30th. Citigroup lowered 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. Wells Fargo & Company set a $137.00 target price on Prologis and gave the stock an "overweight" rating in a research note on Sunday, July 13th. Finally, Scotiabank upped their price objective on Prologis from $97.00 to $100.00 and gave the company a "sector underperform" rating in a research note on Monday, May 12th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $120.33.
Check Out Our Latest Analysis on PLD
Prologis Stock Performance
Shares of PLD traded up $0.68 during trading hours on Friday, hitting $106.53. The company's stock had a trading volume of 1,922,669 shares, compared to its average volume of 4,511,616. The company has a market cap of $98.87 billion, a price-to-earnings ratio of 28.87, a PEG ratio of 2.66 and a beta of 1.21. 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 50 day simple moving average of $107.18 and a two-hundred day simple moving average of $109.27. Prologis, Inc. has a 52-week low of $85.35 and a 52-week high of $132.57.
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 company had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same period last year, the business earned $1.34 earnings per share. Prologis's revenue was up 8.8% compared to the same quarter last year. On average, equities analysts expect that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.
Prologis Company Profile
(
Free Report)
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.
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