Sienna Gestion Lowers Stake in Prologis, Inc. (NYSE:PLD)

Key Points

• Sienna Gestion reduced its holdings in Prologis, Inc. by 6.1% in the first quarter, selling 3,295 shares, with its remaining stake valued at $5,488,000.
• Prologis reported earnings per share of $1.46 for the last quarter, exceeding analysts' expectations of $1.41, while revenues grew by 8.8% year-over-year.
• Institutional investors currently own 93.50% of Prologis stock, indicating a strong interest from large financial entities.

Sienna Gestion lessened its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 6.1% in the first quarter, according to its most recent filing with the SEC. The firm owned 50,503 shares of the real estate investment trust's stock after selling 3,295 shares during the period. Sienna Gestion's holdings in Prologis were worth $5,488,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. REAP Financial Group LLC boosted its stake in Prologis by 40.0% in the 4th quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust's stock worth $31,000 after purchasing an additional 84 shares during the period. Pandora Wealth Inc. acquired a new position in shares of Prologis during the 1st quarter worth approximately $34,000. GKV Capital Management Co. Inc. acquired a new position in shares of Prologis during the 1st quarter worth approximately $34,000. Olde Wealth Management LLC acquired a new stake in shares of Prologis during the 1st quarter worth approximately $43,000. Finally, Cornerstone Planning Group LLC boosted its position in shares of Prologis by 63.6% during the 1st quarter. Cornerstone Planning Group LLC now owns 391 shares of the real estate investment trust's stock worth $44,000 after acquiring an additional 152 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company's stock.

Prologis Stock Up 0.6%

Prologis stock traded up $0.68 during midday trading on Friday, hitting $106.53. 1,924,191 shares of the company's stock were exchanged, compared to its average volume of 3,559,894. The company has a market cap of $98.87 billion, a PE ratio of 18.35, a P/E/G ratio of 2.67 and a beta of 1.21. The firm has a 50-day moving average of $107.13 and a two-hundred day moving average of $109.10. Prologis, Inc. has a 12 month low of $85.35 and a 12 month high of $132.57. 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 posted its quarterly 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 company had revenue of $2.03 billion during 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 for the quarter was up 8.8% compared to the same quarter last year. During the same period last year, the firm posted $1.34 EPS. As a group, analysts expect that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on PLD shares. Wells Fargo & Company set a $137.00 price target on shares of Prologis and gave the company an "overweight" rating in a research note on Sunday, July 13th. Wall Street Zen cut shares of Prologis from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. Wolfe Research lowered shares of Prologis from an "outperform" rating to a "peer perform" rating in a research report on Monday, April 21st. Barclays lowered their price objective on shares of Prologis from $132.00 to $119.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 30th. Finally, UBS Group boosted their price target on shares of Prologis from $106.00 to $120.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Two analysts have rated the stock with a sell rating, six have given a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $120.33.

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.