Trillium Asset Management LLC Sells 7,214 Shares of Prologis, Inc. (NYSE:PLD)

Key Points

• Trillium Asset Management LLC reduced its stake in Prologis, Inc. by 2.8%, selling 7,214 shares, and now owns 252,149 shares valued at approximately $28.2 million.
• Despite Trillium's action, institutional investors maintain a strong interest in Prologis, with 93.50% of the company's stock held by them, including significant increases from firms like Brighton Jones LLC and Cohen & Steers Inc.
• Wall Street analysts hold a mixed outlook on Prologis, with a consensus rating of "Moderate Buy" and a target price of $120.74, while notable price objectives have varied among firms such as Royal Bank of Canada and UBS Group.

Trillium Asset Management LLC cut its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 2.8% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 252,149 shares of the real estate investment trust's stock after selling 7,214 shares during the quarter. Trillium Asset Management LLC's holdings in Prologis were worth $28,188,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. REAP Financial Group LLC grew its position 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 purchasing an additional 84 shares in the last quarter. LaSalle St. Investment Advisors LLC grew its position in shares of Prologis by 3.7% in the first quarter. LaSalle St. Investment Advisors LLC now owns 2,688 shares of the real estate investment trust's stock valued at $300,000 after purchasing an additional 96 shares in the last quarter. CreativeOne Wealth LLC grew its position in Prologis by 1.7% during the fourth quarter. CreativeOne Wealth LLC now owns 6,073 shares of the real estate investment trust's stock worth $642,000 after buying an additional 100 shares in the last quarter. Focus Financial Network Inc. grew its position in Prologis by 5.2% during the first quarter. Focus Financial Network Inc. now owns 2,093 shares of the real estate investment trust's stock worth $234,000 after buying an additional 104 shares in the last quarter. Finally, Exencial Wealth Advisors LLC grew its position in Prologis by 5.1% during the first quarter. Exencial Wealth Advisors LLC now owns 2,210 shares of the real estate investment trust's stock worth $247,000 after buying an additional 107 shares in the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on PLD. Truist Financial reduced their target price on Prologis from $123.00 to $120.00 and set a "buy" rating for the company in a research report on Monday, May 5th. Barclays reduced their target price on Prologis from $132.00 to $119.00 and set an "overweight" rating for the company in a research report on Wednesday, April 30th. UBS Group boosted their target price on Prologis from $106.00 to $120.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Citigroup reduced their target price on Prologis from $150.00 to $140.00 and set a "buy" rating for the company in a research report on Wednesday, July 23rd. Finally, Wells Fargo & Company set a $137.00 price objective on Prologis and gave the stock an "overweight" rating in a report on Sunday, July 13th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Prologis presently has a consensus rating of "Moderate Buy" and a consensus price target of $120.33.

Prologis Trading Up 0.6%

PLD traded up $0.68 during midday trading on Friday, reaching $106.53. 1,924,191 shares of the company's stock traded hands, compared to its average volume of 3,687,758. The firm has a fifty day moving average of $107.13 and a two-hundred day moving average of $109.17. The stock has a market capitalization of $98.87 billion, a price-to-earnings ratio of 28.87, a P/E/G ratio of 2.65 and a beta of 1.21. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.65 and a quick ratio of 0.65. Prologis, Inc. has a 52 week low of $85.35 and a 52 week high of $132.57.

Prologis (NYSE:PLD - Get Free Report) last released 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 business 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%. Prologis'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 EPS. On average, equities analysts anticipate that Prologis, Inc. will post 5.73 earnings per share for the current fiscal 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.