Prologis, Inc. (NYSE:PLD) Shares Sold by Davis Selected Advisers

Key Points

• Davis Selected Advisers reduced its stake in Prologis, Inc. by 4.1%, holding 171,756 shares worth approximately $19.2 million after the sale.
• Institutional ownership of Prologis is high, with 93.50% of the stock owned by institutional investors and hedge funds, indicating strong institutional interest in the company.
• Prologis reported $1.46 earnings per share, exceeding expectations by $0.05, and a revenue of $2.03 billion for the latest quarter, which is an 8.8% increase from the previous year.

Davis Selected Advisers lowered its position in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 4.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 171,756 shares of the real estate investment trust's stock after selling 7,340 shares during the period. Davis Selected Advisers' holdings in Prologis were worth $19,201,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of PLD. REAP Financial Group LLC raised its holdings in shares of Prologis by 40.0% in the fourth quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust's stock valued at $31,000 after buying an additional 84 shares during the last quarter. Phoenix Financial Ltd. raised its holdings in shares of Prologis by 1.0% in the fourth quarter. Phoenix Financial Ltd. now owns 9,032 shares of the real estate investment trust's stock valued at $955,000 after buying an additional 86 shares during the last quarter. LaSalle St. Investment Advisors LLC raised its holdings in shares of Prologis by 3.7% in the first quarter. LaSalle St. Investment Advisors LLC now owns 2,688 shares of the real estate investment trust's stock valued at $300,000 after buying an additional 96 shares during the last quarter. CreativeOne Wealth LLC raised its holdings in shares of Prologis by 1.7% in the fourth quarter. CreativeOne Wealth LLC now owns 6,073 shares of the real estate investment trust's stock valued at $642,000 after buying an additional 100 shares during the last quarter. Finally, Focus Financial Network Inc. raised its holdings in Prologis by 5.2% during the first quarter. Focus Financial Network Inc. now owns 2,093 shares of the real estate investment trust's stock worth $234,000 after purchasing an additional 104 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on PLD. Wolfe Research cut shares of Prologis from an "outperform" rating to a "peer perform" rating in a report on Monday, April 21st. Truist Financial cut their price target on shares of Prologis from $123.00 to $120.00 and set a "buy" rating for the company in a report on Monday, May 5th. Royal Bank Of Canada cut their price target 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. Barclays cut their price target 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, Wall Street Zen lowered shares of Prologis from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $120.74.

Prologis Trading Down 0.5%

NYSE PLD traded down $0.54 during mid-day trading on Friday, reaching $105.75. 1,841,649 shares of the stock were exchanged, compared to its average volume of 4,591,499. Prologis, Inc. has a 1-year low of $85.35 and a 1-year high of $132.57. The business's fifty day simple moving average is $107.43 and its 200 day simple moving average is $109.59. The stock has a market capitalization of $98.14 billion, a PE ratio of 28.66, a PEG ratio of 2.65 and a beta of 1.21. 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 (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, topping analysts' consensus estimates of $1.41 by $0.05. The firm had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.03 billion. Prologis had a net margin of 40.29% and a return on equity of 5.96%. Prologis's revenue was up 8.8% compared to the same quarter last year. During the same quarter last year, the business earned $1.34 earnings per share. On average, research analysts anticipate that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis 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.