Dimensional Fund Advisors LP Sells 396,535 Shares of Prologis, Inc. (NYSE:PLD)

Dimensional Fund Advisors LP lessened its holdings in shares of Prologis, Inc. (NYSE:PLD) by 3.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,726,673 shares of the real estate investment trust’s stock after selling 396,535 shares during the period. Prologis makes up about 0.4% of Dimensional Fund Advisors LP’s portfolio, making the stock its 27th biggest holding. Dimensional Fund Advisors LP owned about 1.37% of Prologis worth $1,422,659,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. REAP Financial Group LLC raised its stake in Prologis by 40.0% in the 4th quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 84 shares during the last quarter. LaSalle St. Investment Advisors LLC grew its position in Prologis by 3.7% during the 1st quarter. LaSalle St. Investment Advisors LLC now owns 2,688 shares of the real estate investment trust’s stock worth $300,000 after purchasing an additional 96 shares during the period. CreativeOne Wealth LLC grew its position in Prologis by 1.7% during the 4th quarter. CreativeOne Wealth LLC now owns 6,073 shares of the real estate investment trust’s stock worth $642,000 after purchasing an additional 100 shares during the period. Focus Financial Network Inc. grew its position in shares of Prologis by 5.2% during the 1st quarter. Focus Financial Network Inc. now owns 2,093 shares of the real estate investment trust’s stock valued at $234,000 after acquiring an additional 104 shares during the period. Finally, Exencial Wealth Advisors LLC boosted its holdings in Prologis by 5.1% in the 1st 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 during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Price Performance

Shares of NYSE:PLD opened at $105.99 on Friday. The company has a 50-day simple moving average of $107.18 and a 200-day simple moving average of $109.27. Prologis, Inc. has a one year low of $85.35 and a one year high of $132.57. 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 $98.37 billion, a price-to-earnings ratio of 28.72, a PEG ratio of 2.66 and a beta of 1.21.

Prologis (NYSE:PLD) last posted its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.34 earnings per share. On average, analysts predict that Prologis, Inc. will post 5.73 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have weighed in on PLD shares. Scotiabank raised their target price 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. UBS Group boosted their price target on shares of Prologis from $106.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, July 8th. Barclays dropped their price target on shares of Prologis from $132.00 to $119.00 and set an “overweight” rating for the company in a research note on Wednesday, April 30th. Evercore ISI lowered their target price on shares of Prologis from $111.00 to $106.00 and set an “in-line” rating for the company in a research note on Thursday, April 17th. Finally, Wolfe Research downgraded shares of 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 assigned a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Prologis currently has an average rating of “Moderate Buy” and an average target price of $120.33.

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.