Deutsche Bank AG Trims Holdings in Prologis, Inc. (NYSE:PLD)

Key Points

• Deutsche Bank AG reduced its stake in Prologis, Inc. by 5.6% in Q1 2024, now holding 5,857,469 shares valued at $654.8 million.
• Analysts have recently downgraded Prologis stock, with Wall Street Zen shifting its rating from a "hold" to a "sell," while the average target price is currently $120.74.
• Prologis reported a Q2 EPS of $1.46, exceeding estimates, along with a net margin of 40.29% and year-over-year revenue growth of 8.8%.

Deutsche Bank AG lowered its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 5.6% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 5,857,469 shares of the real estate investment trust's stock after selling 345,816 shares during the period. Deutsche Bank AG owned approximately 0.63% of Prologis worth $654,806,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Prologis by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 121,339,410 shares of the real estate investment trust's stock worth $13,564,533,000 after purchasing an additional 869,310 shares in the last quarter. Cohen & Steers Inc. grew its position in shares of Prologis by 3.2% during the 4th quarter. Cohen & Steers Inc. now owns 28,331,750 shares of the real estate investment trust's stock worth $2,994,557,000 after purchasing an additional 882,529 shares in the last quarter. Northern Trust Corp grew its position in shares of Prologis by 54.6% during the 4th quarter. Northern Trust Corp now owns 13,855,339 shares of the real estate investment trust's stock worth $1,464,509,000 after purchasing an additional 4,893,284 shares in the last quarter. Capital Research Global Investors grew 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 purchasing an additional 2,500,761 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Prologis by 5.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,648,872 shares of the real estate investment trust's stock worth $1,125,586,000 after purchasing an additional 505,318 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company's stock.

Prologis Stock Performance

PLD stock traded down $0.54 during mid-day trading on Friday, hitting $105.75. The company had a trading volume of 1,841,649 shares, compared to its average volume of 4,591,499. The firm has a market cap of $98.14 billion, a PE ratio of 28.66, a price-to-earnings-growth ratio of 2.66 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, Inc. has a 12 month low of $85.35 and a 12 month high of $132.57. The stock's fifty day moving average price is $107.43 and its two-hundred day moving average price is $109.63.

Prologis (NYSE:PLD - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $2.03 billion during the quarter, compared to analysts' expectations of $2.03 billion. Prologis had a net margin of 40.29% and a return on equity of 5.96%. Prologis's revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.34 earnings per share. On average, analysts forecast that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PLD. UBS Group increased their target price on shares of Prologis from $106.00 to $120.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. 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. Morgan Stanley cut their price target on shares of Prologis to $120.00 and set an "outperform" rating for the company in a report on Monday, April 14th. Scotiabank upped their price target on shares of Prologis from $97.00 to $100.00 and gave the stock a "sector underperform" rating in a report on Monday, May 12th. Finally, BMO Capital Markets cut their price target on shares of Prologis from $105.00 to $95.00 and set an "outperform" rating for the company in a report on Monday, April 14th. 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 stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $120.74.

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.