Prologis, Inc. (NYSE:PLD) Shares Bought by Fayez Sarofim & Co

Key Points

• Fayez Sarofim & Co increased its stake in Prologis, Inc. by 4.9%, acquiring a total of 92,272 shares valued at approximately $10.3 million.
• Institutional investors and hedge funds collectively own about 93.50% of Prologis's stock, reflecting significant institutional interest in the company.
• Prologis reported earnings of $1.46 per share for the last quarter, exceeding expectations and showing an 8.8% year-over-year revenue growth.

Fayez Sarofim & Co raised its position in Prologis, Inc. (NYSE:PLD - Free Report) by 4.9% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 92,272 shares of the real estate investment trust's stock after acquiring an additional 4,326 shares during the period. Fayez Sarofim & Co's holdings in Prologis were worth $10,315,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. REAP Financial Group LLC increased its holdings 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 valued at $31,000 after acquiring an additional 84 shares in the last quarter. Olde Wealth Management LLC purchased a new stake in shares of Prologis during the first quarter worth about $43,000. Cornerstone Planning Group LLC grew its holdings in shares of Prologis by 63.6% during the first quarter. Cornerstone Planning Group LLC now owns 391 shares of the real estate investment trust's stock worth $44,000 after buying an additional 152 shares in the last quarter. Missouri Trust & Investment Co grew its holdings in Prologis by 59.6% in the first quarter. Missouri Trust & Investment Co now owns 399 shares of the real estate investment trust's stock valued at $45,000 after purchasing an additional 149 shares during the period. Finally, Bogart Wealth LLC grew its holdings in Prologis by 56.2% in the first quarter. Bogart Wealth LLC now owns 417 shares of the real estate investment trust's stock valued at $47,000 after purchasing an additional 150 shares during the period. Institutional investors and hedge funds own 93.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PLD. Morgan Stanley reduced their price target on shares of Prologis to $120.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. Royal Bank Of Canada dropped their price target on shares of Prologis from $128.00 to $117.00 and set a "sector perform" rating for the company in a research note on Tuesday, April 29th. Scotiabank boosted their target price on shares of Prologis from $97.00 to $100.00 and gave the company a "sector underperform" rating in a research note on Monday, May 12th. Barclays reduced their price objective on shares of Prologis from $132.00 to $119.00 and set an "overweight" rating for the company in a report on Wednesday, April 30th. Finally, Citigroup reduced their price objective on shares of Prologis from $150.00 to $140.00 and set a "buy" rating for the company in a report on Wednesday, July 23rd. 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 given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $120.74.

Prologis Trading Down 1.2%

NYSE:PLD opened at $105.75 on Thursday. Prologis, Inc. has a twelve month low of $85.35 and a twelve month 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 50 day moving average price of $107.55 and a two-hundred day moving average price of $109.73. The company has a market cap of $98.14 billion, a P/E ratio of 28.66, a price-to-earnings-growth ratio of 2.68 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 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.05. Prologis had a net margin of 40.29% and a return on equity of 5.96%. The business had revenue of $2.03 billion during the quarter, compared to analysts' expectations of $2.03 billion. During the same period last year, the business earned $1.34 earnings per share. The firm's revenue was up 8.8% on a year-over-year basis. As a group, analysts expect 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.

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