NFJ Investment Group LLC Boosts Holdings in Prologis, Inc. (NYSE:PLD)

NFJ Investment Group LLC grew its stake in shares of Prologis, Inc. (NYSE:PLD) by 162.2% during the third quarter, HoldingsChannel reports. The firm owned 134,572 shares of the real estate investment trust’s stock after purchasing an additional 83,248 shares during the quarter. NFJ Investment Group LLC’s holdings in Prologis were worth $16,994,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Dimensional Fund Advisors LP grew its holdings in shares of Prologis by 2.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 13,209,926 shares of the real estate investment trust’s stock worth $1,483,594,000 after acquiring an additional 317,815 shares during the period. Principal Financial Group Inc. raised its holdings in Prologis by 1.4% in the second quarter. Principal Financial Group Inc. now owns 12,265,926 shares of the real estate investment trust’s stock worth $1,377,588,000 after purchasing an additional 167,131 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Prologis by 4.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 10,229,200 shares of the real estate investment trust’s stock worth $1,291,743,000 after purchasing an additional 441,841 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Prologis by 534.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,143,554 shares of the real estate investment trust’s stock valued at $1,280,928,000 after buying an additional 8,545,336 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its position in shares of Prologis by 16.3% in the 2nd quarter. Daiwa Securities Group Inc. now owns 6,832,861 shares of the real estate investment trust’s stock worth $767,398,000 after buying an additional 958,914 shares during the period. 93.50% of the stock is owned by institutional investors.

Prologis Stock Performance

Shares of PLD traded up $0.79 during trading hours on Tuesday, hitting $116.63. The stock had a trading volume of 379,092 shares, compared to its average volume of 3,636,817. Prologis, Inc. has a 12 month low of $101.11 and a 12 month high of $137.52. The stock has a fifty day moving average price of $118.70 and a 200 day moving average price of $118.80. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43. The firm has a market capitalization of $108.02 billion, a PE ratio of 34.99, a PEG ratio of 3.41 and a beta of 1.07.

Prologis (NYSE:PLD) last released its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.29). The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.91 billion. Prologis had a net margin of 39.08% and a return on equity of 5.34%. Prologis’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.30 EPS. Analysts anticipate that Prologis, Inc. will post 5.45 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on PLD shares. Truist Financial lifted their price target on shares of Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Scotiabank cut their price target on Prologis from $142.00 to $136.00 and set a “sector outperform” rating on the stock in a research note on Friday, October 25th. Bank of America reiterated a “neutral” rating and set a $128.00 price objective on shares of Prologis in a research note on Monday, August 12th. Royal Bank of Canada cut Prologis from an “outperform” rating to a “sector perform” rating and increased their target price for the stock from $124.00 to $127.00 in a research note on Monday, August 5th. Finally, JPMorgan Chase & Co. lowered their price target on Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. Eight analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $131.25.

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.