S Bank Fund Management Ltd Makes New $8.91 Million Investment in Prologis, Inc. (NYSE:PLD)

Key Points

• S Bank Fund Management Ltd invested approximately $8.91 million in Prologis, Inc. by acquiring 79,731 shares, making it the 10th largest holding in their portfolio.
• Prologis reported quarterly earnings of $1.46 EPS, exceeding analysts' expectations of $1.41, with a revenue of $2.03 billion for the quarter.
• Despite positive earnings, several analysts have lowered their price targets for Prologis, with the current consensus rating categorized as "Moderate Buy" and an average price target of $120.33.

S Bank Fund Management Ltd purchased a new position in shares of Prologis, Inc. (NYSE:PLD - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 79,731 shares of the real estate investment trust's stock, valued at approximately $8,913,000. Prologis makes up about 1.7% of S Bank Fund Management Ltd's investment portfolio, making the stock its 10th largest holding.

A number of other large investors also recently added to or reduced their stakes in the company. REAP Financial Group LLC raised its stake in shares of Prologis by 40.0% in the fourth quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust's stock valued at $31,000 after acquiring an additional 84 shares in the last quarter. Pandora Wealth Inc. acquired a new stake in shares of Prologis in the first quarter valued at $34,000. GKV Capital Management Co. Inc. acquired a new stake in shares of Prologis in the first quarter valued at $34,000. Olde Wealth Management LLC acquired a new stake in shares of Prologis in the first quarter valued at $43,000. Finally, Cornerstone Planning Group LLC raised its stake in shares of Prologis by 63.6% in the first quarter. Cornerstone Planning Group LLC now owns 391 shares of the real estate investment trust's stock valued at $44,000 after acquiring an additional 152 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Stock Performance

NYSE PLD opened at $104.75 on Wednesday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.61. Prologis, Inc. has a 52-week low of $85.35 and a 52-week high of $132.57. The business's 50-day moving average price is $107.26 and its 200 day moving average price is $109.39. The firm has a market cap of $97.21 billion, a P/E ratio of 28.39, a P/E/G ratio of 2.61 and a beta of 1.21.

Prologis (NYSE:PLD - Get Free Report) last announced its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share for the quarter, beating analysts' consensus estimates of $1.41 by $0.05. Prologis had a return on equity of 5.96% and a net margin of 40.29%. The company had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the previous year, the company earned $1.34 EPS. The firm's revenue for the quarter was up 8.8% compared to the same quarter last year. On average, equities research analysts expect that Prologis, Inc. will post 5.73 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Robert W. Baird cut their price target on Prologis from $126.00 to $120.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Evercore ISI cut their price target on Prologis from $111.00 to $106.00 and set an "in-line" rating on the stock in a research note on Thursday, April 17th. Royal Bank Of Canada cut their price target on Prologis from $128.00 to $117.00 and set a "sector perform" rating on the stock in a research note on Tuesday, April 29th. Wall Street Zen cut Prologis from a "hold" rating to a "sell" rating in a research note on Saturday, June 14th. Finally, Wolfe Research cut Prologis from an "outperform" rating to a "peer perform" rating in a research note on Monday, April 21st. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, ten have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $120.33.

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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