Candriam S.C.A. Decreases Stake in Prologis, Inc. $PLD

Candriam S.C.A. lowered its holdings in Prologis, Inc. (NYSE:PLD) by 4.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 109,915 shares of the real estate investment trust’s stock after selling 4,681 shares during the quarter. Candriam S.C.A.’s holdings in Prologis were worth $12,287,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. increased 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 acquiring an additional 869,310 shares during the period. Northern Trust Corp increased 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 acquiring an additional 4,893,284 shares during the period. Nuveen LLC acquired a new stake in shares of Prologis in the first quarter worth $1,456,768,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased 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 acquiring an additional 505,318 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake 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 worth $1,173,340,000 after acquiring an additional 93,201 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PLD. Scotiabank increased their price objective on shares of Prologis from $97.00 to $100.00 and gave the stock a “sector underperform” rating in a research note on Monday, May 12th. Royal Bank Of Canada cut their price objective on shares of Prologis from $128.00 to $117.00 and set a “sector perform” rating on the stock in a research note on Tuesday, April 29th. Mizuho set a $118.00 price target on shares of Prologis and gave the company an “outperform” rating in a research report on Tuesday. Wells Fargo & Company set a $137.00 price target on shares of Prologis and gave the company an “overweight” rating in a research report on Sunday, July 13th. Finally, Wall Street Zen lowered shares of Prologis from a “hold” rating to a “sell” rating in a research report on Saturday, June 14th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $121.06.

Prologis Stock Down 1.8%

Shares of NYSE PLD opened at $108.2390 on Friday. The company’s 50-day simple moving average is $107.11 and its 200-day simple moving average is $108.88. Prologis, Inc. has a 52-week low of $85.35 and a 52-week high of $132.57. The firm has a market cap of $100.47 billion, a price-to-earnings ratio of 29.33, a price-to-earnings-growth ratio of 2.76 and a beta of 1.21. 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 (NYSE:PLD) last announced its 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 net margin of 40.29% and a return on equity of 5.96%. The business had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter last year, the business earned $1.34 earnings per share. The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. Equities analysts predict 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.