Public Sector Pension Investment Board Decreases Stock Holdings in Prologis, Inc. (NYSE:PLD)

Key Points

• The Public Sector Pension Investment Board reduced its stake in Prologis, Inc. (NYSE:PLD) by 60% in the first quarter, holding 247,827 shares after selling 371,731 shares.
• Prologis reported a quarterly earnings per share (EPS) of $1.46, surpassing analyst expectations of $1.41, with an 8.8% year-over-year revenue growth.
• Institutional investors own approximately 93.50% of Prologis shares, indicating strong interest in the company's stock among large investors.

Public Sector Pension Investment Board lessened its position in Prologis, Inc. (NYSE:PLD - Free Report) by 60.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 247,827 shares of the real estate investment trust's stock after selling 371,731 shares during the period. Public Sector Pension Investment Board's holdings in Prologis were worth $27,705,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Alley Investment Management Company LLC increased its stake in shares of Prologis by 102.8% in the first quarter. Alley Investment Management Company LLC now owns 108,335 shares of the real estate investment trust's stock valued at $12,111,000 after buying an additional 54,914 shares during the period. First Citizens Bank & Trust Co. increased its stake in shares of Prologis by 1,451.2% in the first quarter. First Citizens Bank & Trust Co. now owns 31,180 shares of the real estate investment trust's stock valued at $3,486,000 after buying an additional 29,170 shares during the period. Truist Financial Corp increased its stake in shares of Prologis by 9.3% in the first quarter. Truist Financial Corp now owns 297,270 shares of the real estate investment trust's stock valued at $33,232,000 after buying an additional 25,229 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Prologis by 2.2% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 297,426 shares of the real estate investment trust's stock valued at $33,249,000 after buying an additional 6,350 shares during the period. Finally, Dynamic Advisor Solutions LLC increased its stake in shares of Prologis by 3.1% in the first quarter. Dynamic Advisor Solutions LLC now owns 5,506 shares of the real estate investment trust's stock valued at $615,000 after buying an additional 167 shares during the period. Institutional investors and hedge funds own 93.50% of the company's stock.

Prologis Stock Up 0.6%

Shares of PLD stock traded up $0.68 during trading hours on Friday, reaching $106.53. The company had a trading volume of 1,924,191 shares, compared to its average volume of 3,687,758. Prologis, Inc. has a 12 month low of $85.35 and a 12 month high of $132.57. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.65 and a quick ratio of 0.65. The business has a fifty day simple moving average of $107.13 and a 200-day simple moving average of $109.17. The company has a market cap of $98.87 billion, a price-to-earnings ratio of 28.87, a price-to-earnings-growth ratio of 2.65 and a beta of 1.21.

Prologis (NYSE:PLD - Get Free Report) last issued 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. The company had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.03 billion. Prologis had a return on equity of 5.96% and a net margin of 40.29%. Prologis's revenue was up 8.8% on a year-over-year basis. During the same period last year, the business posted $1.34 earnings per share. On average, research analysts expect that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently commented on PLD shares. Citigroup cut their target price on Prologis from $150.00 to $140.00 and set a "buy" rating on the stock in a research report on Wednesday, July 23rd. Wolfe Research lowered Prologis from an "outperform" rating to a "peer perform" rating in a research report on Monday, April 21st. Truist Financial cut their target price on Prologis from $123.00 to $120.00 and set a "buy" rating on the stock in a research report on Monday, May 5th. Wall Street Zen lowered Prologis from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. Finally, Robert W. Baird cut their target price on Prologis from $126.00 to $120.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $120.33.

Prologis 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.