Prologis, Inc. (NYSE:PLD) Position Lowered by AIA Group Ltd

Key Points

• AIA Group Ltd reduced its stake in Prologis, Inc. by 27.1% during Q1, holding 308,373 shares valued at approximately $34.47 million as per its latest SEC filing.
• Prologis reported $1.46 earnings per share for the latest quarter, surpassing estimates, and experienced an 8.8% revenue growth year-over-year with total revenue of $2.03 billion.
• Analysts have mixed ratings on Prologis; the stock has a consensus rating of "Moderate Buy" with a target price of $120.74, while some have downgraded their ratings recently.

AIA Group Ltd trimmed its position in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 27.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 308,373 shares of the real estate investment trust's stock after selling 114,355 shares during the period. Prologis makes up about 0.8% of AIA Group Ltd's holdings, making the stock its 24th biggest holding. AIA Group Ltd's holdings in Prologis were worth $34,473,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in PLD. Nuveen LLC acquired a new stake in shares of Prologis during the 1st quarter worth $1,456,768,000. Northern Trust Corp increased 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 purchasing an additional 4,893,284 shares in the last quarter. Valeo Financial Advisors LLC increased its holdings in Prologis by 282.5% in 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 purchasing an additional 2,862,183 shares in the last quarter. Capital Research Global Investors increased its holdings in Prologis by 25.4% in the 4th quarter. Capital Research Global Investors now owns 12,345,523 shares of the real estate investment trust's stock valued at $1,304,922,000 after purchasing an additional 2,500,761 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC increased its holdings in Prologis by 83.8% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,779,830 shares of the real estate investment trust's stock valued at $399,528,000 after purchasing an additional 1,723,129 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Stock Down 0.2%

Shares of PLD stock traded down $0.20 during trading hours on Thursday, hitting $105.99. 2,266,395 shares of the company were exchanged, compared to its average volume of 4,528,417. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.65 and a current ratio of 0.65. Prologis, Inc. has a one year low of $85.35 and a one year high of $132.57. The business's 50-day simple moving average is $107.21 and its two-hundred day simple moving average is $109.37. The stock has a market capitalization of $98.37 billion, a price-to-earnings ratio of 28.72, a P/E/G ratio of 2.63 and a beta of 1.21.

Prologis (NYSE:PLD - Get Free Report) last issued its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 EPS for the quarter, topping 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 for the quarter, compared to analysts' expectations of $2.03 billion. During the same quarter last year, the company posted $1.34 earnings per share. The company's quarterly revenue was up 8.8% compared to the same quarter last year. Sell-side analysts predict that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PLD has been the subject of several recent research reports. Scotiabank increased their price target on Prologis from $97.00 to $100.00 and gave the company a "sector underperform" rating in a report on Monday, May 12th. Robert W. Baird lowered their price target on Prologis from $126.00 to $120.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. Wells Fargo & Company set a $137.00 price target on Prologis and gave the company an "overweight" rating in a report on Sunday, July 13th. Evercore ISI lowered their price target on Prologis from $111.00 to $106.00 and set an "in-line" rating for the company in a report on Thursday, April 17th. Finally, Citigroup lowered their price target on Prologis from $150.00 to $140.00 and set a "buy" rating for the company in a report on Wednesday, July 23rd. 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 given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $120.33.

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.