Groupe la Francaise Cuts Stake in Prologis, Inc. $PLD

Key Points

• Groupe la Francaise has reduced its holdings in Prologis, Inc. by 16.3%, with its remaining shares valued at approximately $3.7 million as of the latest SEC filing.
• Prologis reported an earnings per share (EPS) of $1.46 for the last quarter, exceeding analyst expectations of $1.41, with an annual revenue increase of 8.8%.
• The stock currently has a consensus rating of Moderate Buy among analysts, with an average price target of $121.06.

Groupe la Francaise trimmed its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 16.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,671 shares of the real estate investment trust's stock after selling 6,543 shares during the period. Groupe la Francaise's holdings in Prologis were worth $3,713,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in Prologis by 0.7% during 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 in the last quarter. Northern Trust Corp lifted its holdings in Prologis by 54.6% during the fourth quarter. Northern Trust Corp now owns 13,855,339 shares of the real estate investment trust's stock valued at $1,464,509,000 after purchasing an additional 4,893,284 shares in the last quarter. Nuveen LLC purchased a new position in Prologis during the first quarter valued at $1,456,768,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Prologis by 5.0% in 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 worth $1,125,586,000 after buying an additional 505,318 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Prologis by 0.9% in the first 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 in the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PLD. Mizuho set a $118.00 price target on shares of Prologis and gave the stock an "outperform" rating in a research note on Tuesday, August 19th. Truist Financial decreased their price target on shares of Prologis from $123.00 to $120.00 and set a "buy" rating on the stock in a research note on Monday, May 5th. Robert W. Baird cut their price objective on shares of Prologis from $126.00 to $120.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. UBS Group raised their price objective on shares of Prologis from $106.00 to $120.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Finally, Citigroup cut their price objective on shares of Prologis from $150.00 to $140.00 and set a "buy" rating for the company in a research report on Wednesday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $121.83.

Insider Buying and Selling

In other Prologis news, CAO Lori A. Palazzolo sold 25,000 shares of the company's stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $111.33, for a total transaction of $2,783,250.00. Following the completion of the transaction, the chief accounting officer owned 414 shares in the company, valued at approximately $46,090.62. This represents a 98.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.57% of the company's stock.

Prologis Stock Up 0.0%

Prologis stock traded up $0.05 during trading on Thursday, reaching $112.73. The stock had a trading volume of 2,540,751 shares, compared to its average volume of 4,432,083. Prologis, Inc. has a 52-week low of $85.35 and a 52-week high of $132.57. The business has a 50 day moving average price of $107.59 and a 200 day moving average price of $108.70. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.61. The stock has a market cap of $104.64 billion, a PE ratio of 30.55, a P/E/G ratio of 2.79 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 for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the previous year, the firm 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. On average, analysts predict 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.