Credit Agricole S A Grows Stock Position in Prologis, Inc. $PLD

Key Points

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Credit Agricole S A boosted its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 2.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 347,439 shares of the real estate investment trust's stock after buying an additional 7,536 shares during the quarter. Credit Agricole S A's holdings in Prologis were worth $38,840,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in PLD. Vanguard Group Inc. boosted its holdings in shares of Prologis by 0.7% in the first 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 purchasing an additional 869,310 shares during the period. Northern Trust Corp increased its holdings 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 period. Nuveen LLC bought a new stake in Prologis during the 1st quarter valued at $1,456,768,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Prologis by 5.0% in 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 buying an additional 505,318 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Prologis by 0.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 10,495,932 shares of the real estate investment trust's stock worth $1,173,340,000 after buying an additional 93,201 shares during the period. 93.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Wells Fargo & Company set a $137.00 price target on 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. Citigroup cut their target price 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. Scotiabank boosted their price target on shares of Prologis from $97.00 to $100.00 and gave the company a "sector underperform" rating in a report on Monday, May 12th. Finally, Barclays dropped their price objective on shares of Prologis from $132.00 to $119.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 30th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $121.06.

Prologis Stock Down 1.8%

PLD traded down $1.9410 on Thursday, hitting $108.2390. The company had a trading volume of 3,045,671 shares, compared to its average volume of 3,358,921. The stock has a market capitalization of $100.47 billion, a price-to-earnings ratio of 29.33, a P/E/G ratio of 2.76 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. The stock has a fifty day moving average price of $107.11 and a 200-day moving average price of $108.88. 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 released its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share for the quarter, beating analysts' consensus estimates of $1.41 by $0.05. Prologis had a net margin of 40.29% and a return on equity of 5.96%. The business had revenue of $2.03 billion for the quarter, compared to analysts' expectations of $2.03 billion. During the same period last year, the business earned $1.34 EPS. The company's revenue was up 8.8% compared to the same quarter last year. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. Analysts predict 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.