Prudential PLC Sells 2,569 Shares of Prologis, Inc. (NYSE:PLD)

Key Points

• Prudential PLC has reduced its stake in Prologis, Inc. by 11.2% in the first quarter, selling 2,569 shares and holding now 20,445 shares valued at approximately $2.29 million.
• Multiple institutional investors have recently changed their positions in Prologis, with notable increases from REAP Financial Group LLC (+40%) and Cornerstone Planning Group LLC (+63.6%)
• Prologis reported earnings of $1.46 per share, exceeding analysts' predictions, and anticipates a total EPS of 5.73 for the current fiscal year.

Prudential PLC decreased its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 11.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,445 shares of the real estate investment trust's stock after selling 2,569 shares during the quarter. Prudential PLC's holdings in Prologis were worth $2,286,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake 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 buying an additional 869,310 shares during the last quarter. Northern Trust Corp raised its stake 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 purchasing an additional 4,893,284 shares during the last quarter. Nuveen LLC purchased a new position in shares of Prologis in the first quarter worth $1,456,768,000. Capital Research Global Investors raised its stake in shares of Prologis by 25.4% in the fourth quarter. Capital Research Global Investors now owns 12,345,523 shares of the real estate investment trust's stock worth $1,304,922,000 after purchasing an additional 2,500,761 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised 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 purchasing an additional 505,318 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on PLD shares. UBS Group boosted their price target on Prologis from $106.00 to $120.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Scotiabank boosted their price target on Prologis from $97.00 to $100.00 and gave the stock a "sector underperform" rating in a research note on Monday, May 12th. Wall Street Zen cut Prologis from a "hold" rating to a "sell" rating in a research note on Saturday, June 14th. Royal Bank Of Canada decreased their price target 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. Finally, Citigroup decreased their price target on Prologis from $150.00 to $140.00 and set a "buy" rating for the company in a research note on Wednesday, July 23rd. Two analysts have rated the stock with a sell rating, six have issued a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $120.33.

Prologis Stock Performance

NYSE:PLD traded up $0.68 during mid-day trading on Friday, hitting $106.53. 1,924,191 shares of the company traded hands, compared to its average volume of 3,687,758. The stock's fifty day moving average price is $107.13 and its 200-day moving average price is $109.10. Prologis, Inc. has a one year low of $85.35 and a one year high of $132.57. 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 firm has a market cap of $98.87 billion, a price-to-earnings ratio of 28.87, a price-to-earnings-growth ratio of 2.67 and a beta of 1.21.

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