Vestmark Advisory Solutions Inc. Boosts Holdings in Prologis, Inc. (NYSE:PLD)

Key Points

• Vestmark Advisory Solutions Inc. increased its stake in Prologis, Inc. by 40.2% during the first quarter, owning a total of 14,778 shares valued at approximately $1.65 million.
• Prologis reported its quarterly earnings, achieving $1.46 earnings per share, beating analysts' expectations by $0.05, with revenues of $2.03 billion.
• Several hedge funds, including Vanguard Group Inc., made notable adjustments to their stakes in Prologis, showcasing strong institutional support with 93.50% of the stock owned by these investors.

Vestmark Advisory Solutions Inc. raised its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 40.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,778 shares of the real estate investment trust's stock after purchasing an additional 4,240 shares during the period. Vestmark Advisory Solutions Inc.'s holdings in Prologis were worth $1,652,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Prologis by 0.7% in the first quarter. Vanguard Group Inc. now owns 121,339,410 shares of the real estate investment trust's stock worth $13,564,533,000 after buying an additional 869,310 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Prologis by 54.6% in the fourth quarter. Northern Trust Corp now owns 13,855,339 shares of the real estate investment trust's stock worth $1,464,509,000 after buying an additional 4,893,284 shares in the last quarter. Nuveen LLC purchased a new position in shares of Prologis in the first quarter worth about $1,456,768,000. Capital Research Global Investors lifted its stake in shares of Prologis by 25.4% in the fourth quarter. Capital Research Global Investors now owns 12,345,523 shares of the real estate investment trust's stock worth $1,304,922,000 after buying an additional 2,500,761 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Prologis by 5.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,648,872 shares of the real estate investment trust's stock worth $1,125,586,000 after buying an additional 505,318 shares in the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Trading Up 0.6%

Shares of PLD stock opened at $106.53 on Friday. 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 stock has a market capitalization of $98.87 billion, a P/E ratio of 28.87, a price-to-earnings-growth ratio of 2.67 and a beta of 1.21. The company has a 50 day moving average price of $107.13 and a 200 day moving average price of $109.10. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two week high of $132.57.

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. The firm had revenue of $2.03 billion during the quarter, compared to analysts' expectations of $2.03 billion. Prologis had a net margin of 40.29% and a return on equity of 5.96%. The business's quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.34 earnings per share. Equities research analysts predict that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Analysts Set New Price Targets

PLD has been the topic of several research reports. Barclays decreased their price target on shares of Prologis from $132.00 to $119.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 30th. Truist Financial cut their price objective on shares of Prologis from $123.00 to $120.00 and set a "buy" rating for the company in a research report on Monday, May 5th. Wolfe Research cut shares of Prologis from an "outperform" rating to a "peer perform" rating in a research report on Monday, April 21st. Royal Bank Of Canada cut their price objective on shares of Prologis from $128.00 to $117.00 and set a "sector perform" rating for the company in a research report on Tuesday, April 29th. Finally, Scotiabank raised their price objective on shares of Prologis from $97.00 to $100.00 and gave the stock a "sector underperform" rating in a research report on Monday, May 12th. Two research 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's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus 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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