Prologis, Inc. (NYSE:PLD) Holdings Trimmed by Heitman Real Estate Securities LLC

Heitman Real Estate Securities LLC reduced its position in Prologis, Inc. (NYSE:PLD) by 6.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,191,519 shares of the real estate investment trust’s stock after selling 82,279 shares during the period. Prologis comprises 8.2% of Heitman Real Estate Securities LLC’s investment portfolio, making the stock its biggest position. Heitman Real Estate Securities LLC owned approximately 0.13% of Prologis worth $150,465,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of PLD. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Prologis by 534.7% in the third 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 worth $1,280,928,000 after purchasing an additional 8,545,336 shares during the period. Barrow Hanley Mewhinney & Strauss LLC bought a new position in shares of Prologis during the second quarter worth $203,223,000. AMF Tjanstepension AB increased its stake in Prologis by 267.9% in the 3rd quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust’s stock valued at $236,879,000 after buying an additional 1,365,811 shares during the last quarter. Federated Hermes Inc. boosted its holdings in shares of Prologis by 326.3% during the 2nd quarter. Federated Hermes Inc. now owns 1,774,932 shares of the real estate investment trust’s stock worth $199,343,000 after buying an additional 1,358,542 shares during the period. Finally, 1832 Asset Management L.P. boosted its position in shares of Prologis by 137.7% during the 2nd quarter. 1832 Asset Management L.P. now owns 1,856,632 shares of the real estate investment trust’s stock worth $208,518,000 after acquiring an additional 1,075,614 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on PLD shares. JPMorgan Chase & Co. lowered their price objective on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a research report on Monday, October 21st. Bank of America reiterated a “neutral” rating and set a $128.00 price objective on shares of Prologis in a research report on Monday, August 12th. Evercore ISI lifted their price objective on Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Scotiabank dropped their target price on Prologis from $142.00 to $136.00 and set a “sector outperform” rating on the stock in a research report on Friday, October 25th. Finally, Morgan Stanley increased their price objective on Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. Eight investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Prologis presently has an average rating of “Moderate Buy” and a consensus target price of $131.25.

Prologis Stock Down 0.8 %

Prologis stock opened at $115.82 on Tuesday. Prologis, Inc. has a 52 week low of $101.11 and a 52 week high of $137.52. The company’s 50-day moving average price is $118.70 and its two-hundred day moving average price is $118.80. The stock has a market cap of $107.27 billion, a price-to-earnings ratio of 34.99, a PEG ratio of 3.41 and a beta of 1.07. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56.

Prologis (NYSE:PLD) last issued its 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). Prologis had a net margin of 39.08% and a return on equity of 5.34%. The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same quarter in the prior year, the firm posted $1.30 EPS. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, analysts expect that Prologis, Inc. will post 5.45 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.