Russell Investments Group Ltd. Purchases 24,519 Shares of Prologis, Inc. (NYSE:PLD)

Key Points

• Russell Investments Group Ltd. increased its stake in Prologis by 0.8% in the first quarter, owning approximately 3.1 million shares valued at $348.5 million, making it the firm's 25th largest holding.
• Several other institutional investors significantly boosted their holdings in Prologis during the first quarter, with First Citizens Bank & Trust Co. increasing its stake by 1,451.2%.
• Prologis reported earnings of $1.46 per share for the last quarter, exceeding analysts' expectations, with revenue showing an 8.8% year-over-year increase, totaling $2.03 billion.

Russell Investments Group Ltd. boosted its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 0.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,121,609 shares of the real estate investment trust's stock after acquiring an additional 24,519 shares during the quarter. Prologis comprises about 0.5% of Russell Investments Group Ltd.'s investment portfolio, making the stock its 25th biggest holding. Russell Investments Group Ltd. owned 0.34% of Prologis worth $348,549,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. REAP Financial Group LLC raised its position in Prologis by 40.0% in the fourth 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. Pandora Wealth Inc. bought a new stake in Prologis in the first quarter worth about $34,000. Olde Wealth Management LLC acquired a new stake in Prologis during the 1st quarter worth about $43,000. Cornerstone Planning Group LLC lifted its stake in Prologis by 63.6% during the first quarter. Cornerstone Planning Group LLC now owns 391 shares of the real estate investment trust's stock valued at $44,000 after buying an additional 152 shares in the last quarter. Finally, Missouri Trust & Investment Co boosted its holdings in shares of Prologis by 59.6% in the first quarter. Missouri Trust & Investment Co now owns 399 shares of the real estate investment trust's stock worth $45,000 after buying an additional 149 shares during the period. 93.50% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PLD. Robert W. Baird decreased their target price on shares of Prologis from $126.00 to $120.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. Evercore ISI decreased their target price on shares of Prologis from $111.00 to $106.00 and set an "in-line" rating for the company in a report on Thursday, April 17th. Royal Bank Of Canada decreased their target price on shares of Prologis from $128.00 to $117.00 and set a "sector perform" rating for the company in a report on Tuesday, April 29th. UBS Group raised their target price on shares of Prologis from $106.00 to $120.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Finally, Wall Street Zen cut shares of 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 assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $120.33.

Prologis Stock Down 0.2%

NYSE:PLD traded down $0.20 on Thursday, hitting $105.99. 2,266,395 shares of the company's stock traded hands, compared to its average volume of 4,528,417. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.61. Prologis, Inc. has a 1 year low of $85.35 and a 1 year high of $132.57. The firm has a 50-day moving average price of $107.21 and a 200-day moving average price of $109.37. The company has a market cap of $98.37 billion, a PE ratio of 28.72, a price-to-earnings-growth ratio of 2.63 and a beta of 1.21.

Prologis (NYSE:PLD - Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 EPS for the quarter, beating the consensus estimate of $1.41 by $0.05. The business had revenue of $2.03 billion during the quarter, compared to analysts' expectations of $2.03 billion. Prologis had a return on equity of 5.96% and a net margin of 40.29%. The firm's quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.34 EPS. Equities analysts anticipate that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

About Prologis

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.