Prologis, Inc. (NYSE:PLD) Shares Sold by Savvy Advisors Inc.

Key Points

• Savvy Advisors Inc. reduced its holdings in Prologis, Inc. by 10.9% during the first quarter, now owning 20,016 shares valued at approximately $2.24 million.
• In the latest analyst reports, BMO Capital Markets lowered its price target for Prologis from $105.00 to $95.00, while Wells Fargo set a price target of $137.00 with an "overweight" rating.
• Prologis posted $1.46 earnings per share for its most recent quarter, beating expectations, with a revenue of $2.03 billion, reflecting an increase of 8.8% year-over-year.

Savvy Advisors Inc. cut its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 10.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,016 shares of the real estate investment trust's stock after selling 2,461 shares during the quarter. Savvy Advisors Inc.'s holdings in Prologis were worth $2,238,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in shares of Prologis by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 121,339,410 shares of the real estate investment trust's stock valued at $13,564,533,000 after buying an additional 869,310 shares during the last quarter. Cohen & Steers Inc. grew its position in 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 during the last quarter. Northern Trust Corp grew its position in 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 during the last quarter. Capital Research Global Investors grew its position in 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 during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in 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 during the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have issued reports on PLD shares. BMO Capital Markets lowered their price objective on shares of Prologis from $105.00 to $95.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. Wells Fargo & Company set a $137.00 price objective on shares of Prologis and gave the stock an "overweight" rating in a research report on Sunday, July 13th. Citigroup lowered their price objective on shares of Prologis from $150.00 to $140.00 and set a "buy" rating on the stock in a research report on Wednesday, July 23rd. Robert W. Baird lowered their price objective on shares of Prologis from $126.00 to $120.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. Finally, Evercore ISI reduced their target price on shares of Prologis from $111.00 to $106.00 and set an "in-line" rating for the company in a research note on Thursday, April 17th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $120.74.

Prologis Trading Up 0.5%

PLD opened at $106.23 on Friday. The stock has a market capitalization of $98.59 billion, a PE ratio of 28.79, a P/E/G ratio of 2.65 and a beta of 1.21. The firm's fifty day moving average price is $107.49 and its 200 day moving average price is $109.71. 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, Inc. has a 12-month low of $85.35 and a 12-month high of $132.57.

Prologis (NYSE:PLD - Get Free Report) last posted its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.05. The firm had revenue of $2.03 billion for 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%. The firm's quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.34 earnings per share. As a group, research analysts expect that Prologis, Inc. will post 5.73 EPS for the current fiscal 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.

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