National Pension Service Increases Holdings in Prologis, Inc. (NYSE:PLD)

Key Points

• The National Pension Service increased its stake in Prologis, Inc. by 8.3% in the first quarter, acquiring an additional 167,031 shares to own about 0.24% of the company, valued at $244.79 million.
• Prologis reported $1.46 EPS for the latest quarter, beating analyst expectations by $0.05, and its revenue of $2.03 billion matched predictions.
• Shares of Prologis received mixed ratings from analysts, with the average price target set at $120.33, reflecting a "Moderate Buy" rating overall.

National Pension Service raised its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 8.3% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,189,737 shares of the real estate investment trust's stock after acquiring an additional 167,031 shares during the quarter. National Pension Service owned approximately 0.24% of Prologis worth $244,791,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of PLD. REAP Financial Group LLC grew its position 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 valued at $31,000 after acquiring an additional 84 shares during the last quarter. Pandora Wealth Inc. bought a new position in Prologis in the 1st quarter valued at $34,000. GKV Capital Management Co. Inc. bought a new position in Prologis in the 1st quarter valued at $34,000. Olde Wealth Management LLC bought a new position in Prologis in the 1st quarter valued at $43,000. Finally, Cornerstone Planning Group LLC grew 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 buying an additional 152 shares in the last quarter. Institutional investors own 93.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on PLD shares. Citigroup dropped their price target on Prologis from $150.00 to $140.00 and set a "buy" rating on the stock in a research report on Wednesday, July 23rd. Royal Bank Of Canada dropped their price target on Prologis from $128.00 to $117.00 and set a "sector perform" rating on the stock in a research report on Tuesday, April 29th. Scotiabank increased their price target on Prologis from $97.00 to $100.00 and gave the stock a "sector underperform" rating in a research report on Monday, May 12th. Wolfe Research downgraded Prologis from an "outperform" rating to a "peer perform" rating in a research report on Monday, April 21st. Finally, Wall Street Zen downgraded Prologis from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. Two analysts have rated the stock with a sell rating, six have given a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $120.33.

Prologis Stock Up 0.6%

Prologis stock traded up $0.68 during midday trading on Friday, reaching $106.53. The company's stock had a trading volume of 1,924,191 shares, compared to its average volume of 3,687,758. The stock's 50-day simple moving average is $107.13 and its 200-day simple moving average is $109.17. 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 52-week low of $85.35 and a 52-week high of $132.57. The stock has a market capitalization of $98.87 billion, a P/E ratio of 28.87, a PEG ratio of 2.65 and a beta of 1.21.

Prologis (NYSE:PLD - Get Free Report) last released its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 EPS for the quarter, beating analysts' consensus estimates of $1.41 by $0.05. Prologis had a return on equity of 5.96% and a net margin of 40.29%. The company had revenue of $2.03 billion during the quarter, compared to analysts' expectations of $2.03 billion. During the same period last year, the business posted $1.34 earnings per share. The firm's revenue was up 8.8% compared to the same quarter last year. On average, sell-side analysts expect that Prologis, Inc. will post 5.73 EPS for the current 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.