Swiss National Bank Has $292.02 Million Position in Prologis, Inc. (NYSE:PLD)

Key Points

• The Swiss National Bank reduced its holdings in Prologis, Inc. by selling 3,500 shares, bringing its total ownership to approximately 2.61 million shares valued at $292 million.
• Prologis reported earnings per share of $1.46 for the last quarter, exceeding analysts' estimates by $0.05, while its revenue remained stable at $2.03 billion.
• Analyst ratings for Prologis show a consensus rating of "Moderate Buy", with a consensus target price of $120.74 despite recent price reductions by various firms.

Swiss National Bank trimmed its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 0.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,612,208 shares of the real estate investment trust's stock after selling 3,500 shares during the period. Swiss National Bank owned 0.28% of Prologis worth $292,019,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. AMF Tjanstepension AB lifted its position in shares of Prologis by 12.4% in the first quarter. AMF Tjanstepension AB now owns 2,913,691 shares of the real estate investment trust's stock valued at $325,874,000 after buying an additional 320,827 shares during the last quarter. Fayez Sarofim & Co lifted its position in shares of Prologis by 4.9% in the first quarter. Fayez Sarofim & Co now owns 92,272 shares of the real estate investment trust's stock valued at $10,315,000 after buying an additional 4,326 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Prologis by 9.6% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,291,758 shares of the real estate investment trust's stock valued at $256,196,000 after buying an additional 200,883 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position 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 valued at $1,173,340,000 after buying an additional 93,201 shares during the last quarter. Finally, ASR Vermogensbeheer N.V. acquired a new stake in shares of Prologis in the first quarter valued at approximately $12,462,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PLD has been the subject of several research reports. UBS Group lifted their price target on Prologis from $106.00 to $120.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Wells Fargo & Company set a $137.00 target price on Prologis and gave the stock an "overweight" rating in a report on Sunday, July 13th. Wolfe Research downgraded shares of Prologis from an "outperform" rating to a "peer perform" rating in a research note on Monday, April 21st. Wall Street Zen lowered shares of Prologis from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. Finally, Truist Financial dropped their price objective on Prologis from $123.00 to $120.00 and set a "buy" rating for the company in a report on Monday, May 5th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Prologis presently has a consensus rating of "Moderate Buy" and a consensus target price of $120.74.

Prologis Price Performance

PLD stock traded down $0.54 during midday trading on Friday, reaching $105.75. 1,841,649 shares of the stock were exchanged, compared to its average volume of 4,591,499. The stock has a market capitalization of $98.14 billion, a PE ratio of 28.66, a P/E/G ratio of 2.65 and a beta of 1.21. 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 current ratio of 0.65 and a quick ratio of 0.65. The company has a fifty day moving average price of $107.43 and a 200 day moving average price of $109.59.

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 analysts' consensus estimates of $1.41 by $0.05. The business had revenue of $2.03 billion for 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%. Prologis's quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.34 EPS. As a group, analysts expect that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

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.