Wellington Management Group LLP Purchases 293,763 Shares of Prologis, Inc. $PLD

Key Points

• Wellington Management Group LLP increased its stake in Prologis, Inc. by 9.3%, holding 3,446,822 shares valued at approximately $385.32 million.
• Institutional investors now control 93.50% of Prologis's stock, indicative of strong institutional interest in the real estate investment trust.
• Prologis reported $1.46 EPS for the last quarter, exceeding expectations, and had a year-over-year revenue increase of 8.8%, amounting to $2.03 billion.

Wellington Management Group LLP lifted its position in Prologis, Inc. (NYSE:PLD - Free Report) by 9.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,446,822 shares of the real estate investment trust's stock after acquiring an additional 293,763 shares during the period. Wellington Management Group LLP owned about 0.37% of Prologis worth $385,320,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in PLD. Vanguard Group Inc. grew its position in 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. Northern Trust Corp boosted its position in shares of Prologis by 54.6% in the fourth quarter. Northern Trust Corp now owns 13,855,339 shares of the real estate investment trust's stock worth $1,464,509,000 after buying an additional 4,893,284 shares during the period. Nuveen LLC acquired a new stake in shares of Prologis in the first quarter worth $1,456,768,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Prologis by 5.0% during the fourth 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 valued at $1,125,586,000 after buying an additional 505,318 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Prologis by 0.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 10,495,932 shares of the real estate investment trust's stock valued at $1,173,340,000 after buying an additional 93,201 shares during the period. Hedge funds and other institutional investors own 93.50% of the company's stock.

Prologis Stock Down 1.8%

Shares of Prologis stock traded down $1.9410 during midday trading on Thursday, reaching $108.2390. 3,045,671 shares of the company's stock traded hands, compared to its average volume of 3,358,921. 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 52 week low of $85.35 and a 52 week high of $132.57. The company's 50 day simple moving average is $107.11 and its 200 day simple moving average is $108.88. The company has a market cap of $100.47 billion, a price-to-earnings ratio of 29.33, a price-to-earnings-growth ratio of 2.76 and a beta of 1.21.

Prologis (NYSE:PLD - Get Free Report) last issued its quarterly earnings data 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. Prologis had a net margin of 40.29% and a return on equity of 5.96%. The firm had revenue of $2.03 billion during the quarter, compared to analysts' expectations of $2.03 billion. During the same period in the prior year, the company posted $1.34 earnings per share. Prologis's revenue for the quarter was up 8.8% on a year-over-year basis. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. Equities analysts expect that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently issued reports on PLD. Royal Bank Of Canada reduced their price objective on Prologis from $128.00 to $117.00 and set a "sector perform" rating for the company in a research note on Tuesday, April 29th. Mizuho set a $118.00 price target on shares of Prologis and gave the stock an "outperform" rating in a research report on Tuesday. Wells Fargo & Company set a $137.00 price target on shares of Prologis and gave the stock an "overweight" rating in a 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. 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 analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Prologis has an average rating of "Moderate Buy" and a consensus target price of $121.06.

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.