LGT Group Foundation Increases Holdings in Prologis, Inc. (NYSE:PLD)

Key Points

• LGT Group Foundation increased its stake in Prologis, Inc. by 111.9% in Q1, owning 667,396 shares, making it the 25th largest position in their portfolio.
• Prologis reported a net margin of 40.29% and a revenue of $2.03 billion for the most recent quarter, beating analysts' estimates.
• Major brokerages have varied ratings on Prologis, with a current consensus rating of "Moderate Buy" and a target price of $120.74.

LGT Group Foundation lifted its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 111.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 667,396 shares of the real estate investment trust's stock after buying an additional 352,376 shares during the quarter. Prologis makes up about 1.0% of LGT Group Foundation's holdings, making the stock its 25th biggest holding. LGT Group Foundation owned 0.07% of Prologis worth $74,608,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Nuveen LLC purchased a new position in shares of Prologis in the first quarter valued at $1,456,768,000. Northern Trust Corp grew its holdings in Prologis by 54.6% in the 4th quarter. Northern Trust Corp now owns 13,855,339 shares of the real estate investment trust's stock valued at $1,464,509,000 after buying an additional 4,893,284 shares in the last quarter. Valeo Financial Advisors LLC boosted its holdings in Prologis by 282.5% during the 1st quarter. Valeo Financial Advisors LLC now owns 3,875,386 shares of the real estate investment trust's stock valued at $433,229,000 after acquiring an additional 2,862,183 shares during the period. Capital Research Global Investors raised its position in shares of Prologis by 25.4% during the 4th 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 acquiring an additional 2,500,761 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its stake in shares of Prologis by 83.8% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,779,830 shares of the real estate investment trust's stock worth $399,528,000 after purchasing an additional 1,723,129 shares during the last quarter. Institutional investors own 93.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PLD. Scotiabank raised their price objective on Prologis from $97.00 to $100.00 and gave the stock a "sector underperform" rating in a report on Monday, May 12th. Evercore ISI lowered their price target on Prologis from $111.00 to $106.00 and set an "in-line" rating on the stock in a report on Thursday, April 17th. Wall Street Zen cut Prologis from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. Wells Fargo & Company set a $137.00 price target on Prologis and gave the stock an "overweight" rating in a research report on Sunday, July 13th. Finally, Royal Bank Of Canada dropped their price objective on Prologis from $128.00 to $117.00 and set a "sector perform" rating on the stock in a research note on Tuesday, April 29th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Prologis has a consensus rating of "Moderate Buy" and a consensus target price of $120.33.

Prologis Price Performance

Shares of PLD stock traded up $0.68 during trading hours on Friday, hitting $106.53. 1,924,191 shares of the company's stock were exchanged, compared to its average volume of 3,687,758. The stock's 50-day moving average is $107.13 and its 200-day moving average is $109.17. The stock has a market cap of $98.87 billion, a price-to-earnings ratio of 28.87, a price-to-earnings-growth ratio of 2.65 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.

Prologis (NYSE:PLD - Get Free Report) last announced its earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.41 by $0.05. The business had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.03 billion. Prologis had a return on equity of 5.96% and a net margin of 40.29%. Prologis's revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.34 EPS. As a group, research analysts forecast that Prologis, Inc. will post 5.73 EPS for the current 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.