Raymond James Financial Inc. Lowers Position in Prologis, Inc. (NYSE:PLD)

Key Points

• Raymond James Financial Inc. reduced its position in Prologis, Inc. by 14.7%, selling 354,412 shares, and now owns approximately 0.22% of the company valued at around $229.9 million.
• Several institutional investors have made adjustments to their stakes, with Aberdeen Group plc increasing its holdings by 33.0%, and the overall institutional ownership in Prologis now stands at 93.50%.
• Prologis reported a quarterly earnings per share (EPS) of $1.46, surpassing the consensus estimate, while also experiencing an 8.8% year-over-year revenue increase to $2.03 billion.

Raymond James Financial Inc. lessened its position in Prologis, Inc. (NYSE:PLD - Free Report) by 14.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,056,905 shares of the real estate investment trust's stock after selling 354,412 shares during the quarter. Raymond James Financial Inc. owned approximately 0.22% of Prologis worth $229,941,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cresset Asset Management LLC raised its stake in Prologis by 4.6% during the first quarter. Cresset Asset Management LLC now owns 39,933 shares of the real estate investment trust's stock valued at $4,464,000 after buying an additional 1,759 shares during the last quarter. American Investment Services Inc. raised its stake in Prologis by 1.8% during the first quarter. American Investment Services Inc. now owns 6,419 shares of the real estate investment trust's stock valued at $718,000 after buying an additional 116 shares during the last quarter. Ethic Inc. raised its stake in Prologis by 0.4% during the first quarter. Ethic Inc. now owns 92,385 shares of the real estate investment trust's stock valued at $10,296,000 after buying an additional 329 shares during the last quarter. Aberdeen Group plc increased its holdings in shares of Prologis by 33.0% in the 1st quarter. Aberdeen Group plc now owns 1,697,476 shares of the real estate investment trust's stock worth $188,462,000 after purchasing an additional 421,620 shares in the last quarter. Finally, Horizon Investments LLC increased its holdings in shares of Prologis by 5.1% in the 1st quarter. Horizon Investments LLC now owns 13,323 shares of the real estate investment trust's stock worth $1,489,000 after purchasing an additional 644 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on the company. Wolfe Research lowered Prologis from an "outperform" rating to a "peer perform" rating in a report on Monday, April 21st. Truist Financial reduced their target price on Prologis from $123.00 to $120.00 and set a "buy" rating for the company in a report on Monday, May 5th. UBS Group lifted their target price on Prologis from $106.00 to $120.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Robert W. Baird reduced their target price on Prologis from $126.00 to $120.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. Finally, Royal Bank Of Canada reduced their target price on Prologis from $128.00 to $117.00 and set a "sector perform" rating for the company in a report on Tuesday, April 29th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $120.33.

Prologis Stock Performance

NYSE:PLD opened at $106.53 on Friday. The stock has a 50-day simple moving average of $107.13 and a two-hundred day simple moving average of $109.10. Prologis, Inc. has a 52-week low of $85.35 and a 52-week high of $132.57. 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 firm has a market capitalization of $98.87 billion, a PE ratio of 28.87, a P/E/G ratio of 2.67 and a beta of 1.21.

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 (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.05. Prologis had a return on equity of 5.96% and a net margin of 40.29%. The business had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the previous 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. Analysts forecast that Prologis, Inc. will post 5.73 EPS for the current year.

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.

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