Aberdeen Group plc Has $188.46 Million Holdings in Prologis, Inc. (NYSE:PLD)

Aberdeen Group plc raised its position in shares of Prologis, Inc. (NYSE:PLD) by 33.0% in the first quarter, HoldingsChannel.com reports. The firm owned 1,697,476 shares of the real estate investment trust’s stock after purchasing an additional 421,620 shares during the quarter. Aberdeen Group plc’s holdings in Prologis were worth $188,462,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PLD. Nuveen LLC acquired a new stake in Prologis during the 1st quarter valued at approximately $1,456,768,000. Northern Trust Corp increased its position in Prologis by 54.6% during the 4th quarter. Northern Trust Corp now owns 13,855,339 shares of the real estate investment trust’s stock valued at $1,464,509,000 after purchasing an additional 4,893,284 shares during the period. Valeo Financial Advisors LLC increased its position in Prologis by 282.5% during the 1st quarter. Valeo Financial Advisors LLC now owns 3,875,386 shares of the real estate investment trust’s stock valued at $433,229,000 after purchasing an additional 2,862,183 shares during the period. Capital Research Global Investors grew its position in shares of Prologis by 25.4% during the 4th quarter. Capital Research Global Investors now owns 12,345,523 shares of the real estate investment trust’s stock worth $1,304,922,000 after buying an additional 2,500,761 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC grew its position in shares of Prologis by 83.8% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,779,830 shares of the real estate investment trust’s stock worth $399,528,000 after buying an additional 1,723,129 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

PLD has been the subject of several recent analyst reports. UBS Group raised their price objective on shares of Prologis from $106.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, July 8th. Wells Fargo & Company set a $137.00 price objective on shares of Prologis and gave the stock an “overweight” rating in a research report on Sunday, July 13th. Evercore ISI reduced their price objective on shares of Prologis from $111.00 to $106.00 and set an “in-line” rating for the company in a research report on Thursday, April 17th. Truist Financial reduced their price objective on shares of Prologis from $123.00 to $120.00 and set a “buy” rating for the company in a research report on Monday, May 5th. Finally, Wall Street Zen downgraded shares of Prologis from a “hold” rating to a “sell” rating in a research report on Saturday, June 14th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $120.33.

Prologis Trading Down 0.2%

NYSE PLD opened at $105.99 on Friday. 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, 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 current ratio of 0.65 and a quick ratio of 0.65. The business’s fifty day moving average is $107.18 and its 200-day moving average is $109.27.

Prologis (NYSE:PLD) last announced its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.05. Prologis had a return on equity of 5.96% and a net margin of 40.29%. The company had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same quarter last year, the firm posted $1.34 EPS. The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. Equities research analysts predict that Prologis, Inc. will post 5.73 EPS for the current 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.