Public Sector Pension Investment Board Decreases Position in Prologis, Inc. (NYSE:PLD)

Public Sector Pension Investment Board lessened its holdings in Prologis, Inc. (NYSE:PLD) by 60.0% during the first quarter, Holdings Channel.com reports. The firm owned 247,827 shares of the real estate investment trust’s stock after selling 371,731 shares during the quarter. Public Sector Pension Investment Board’s holdings in Prologis were worth $27,705,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Brighton Jones LLC grew its holdings in Prologis by 629.0% in the 4th quarter. Brighton Jones LLC now owns 17,475 shares of the real estate investment trust’s stock worth $1,847,000 after acquiring an additional 15,078 shares during the last quarter. Sagespring Wealth Partners LLC bought a new stake in Prologis in the 4th quarter worth $677,000. Cohen & Steers Inc. grew its holdings in Prologis by 3.2% in the 4th quarter. Cohen & Steers Inc. now owns 28,331,750 shares of the real estate investment trust’s stock worth $2,994,557,000 after acquiring an additional 882,529 shares during the last quarter. Mariner LLC grew its holdings in Prologis by 0.8% in the 4th quarter. Mariner LLC now owns 393,467 shares of the real estate investment trust’s stock worth $41,589,000 after acquiring an additional 3,105 shares during the last quarter. Finally, CreativeOne Wealth LLC grew its holdings in Prologis by 1.7% in the 4th quarter. CreativeOne Wealth LLC now owns 6,073 shares of the real estate investment trust’s stock worth $642,000 after acquiring an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Trading Down 1.4%

Shares of NYSE PLD opened at $104.18 on Tuesday. The firm’s 50 day moving average price is $107.34 and its 200-day moving average price is $109.42. The company has a market cap of $96.68 billion, a PE ratio of 28.23, a P/E/G ratio of 2.65 and a beta of 1.21. Prologis, Inc. has a 52-week low of $85.35 and a 52-week 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.

Prologis (NYSE:PLD) last released its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share 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 firm had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the previous year, the company earned $1.34 earnings per share. The firm’s quarterly revenue was up 8.8% on a year-over-year basis. On average, equities research analysts expect that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Robert W. Baird cut their price target on shares of Prologis from $126.00 to $120.00 and set an “outperform” rating on the stock in a report on Wednesday, May 7th. Wolfe Research lowered shares of Prologis from an “outperform” rating to a “peer perform” rating in a report on Monday, April 21st. Evercore ISI cut their price target on shares of Prologis from $111.00 to $106.00 and set an “in-line” rating on the stock in a report on Thursday, April 17th. Wall Street Zen lowered shares of Prologis from a “hold” rating to a “sell” rating in a research note on Saturday, June 14th. Finally, Citigroup cut their target price on shares of Prologis from $150.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, July 23rd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $120.74.

Prologis Company 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.