Prologis, Inc. $PLD Stake Increased by Third Avenue Management LLC

Third Avenue Management LLC increased its stake in Prologis, Inc. (NYSE:PLD) by 0.2% in the first quarter, Holdings Channel reports. The institutional investor owned 129,162 shares of the real estate investment trust’s stock after acquiring an additional 219 shares during the quarter. Prologis accounts for about 2.9% of Third Avenue Management LLC’s portfolio, making the stock its 11th largest position. Third Avenue Management LLC’s holdings in Prologis were worth $14,439,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. REAP Financial Group LLC increased its stake in Prologis by 40.0% during the fourth quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 84 shares during the last quarter. Pandora Wealth Inc. bought a new stake in Prologis during the first quarter valued at $34,000. GKV Capital Management Co. Inc. bought a new stake in Prologis during the first quarter valued at $34,000. Olde Wealth Management LLC bought a new stake in Prologis during the first quarter valued at $43,000. Finally, Cornerstone Planning Group LLC increased its stake in Prologis by 63.6% during the first quarter. Cornerstone Planning Group LLC now owns 391 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 152 shares during the last quarter. Institutional investors own 93.50% of the company’s stock.

Prologis Stock Performance

PLD stock opened at $105.50 on Tuesday. The company has a market capitalization of $97.91 billion, a P/E ratio of 28.59, a PEG ratio of 2.67 and a beta of 1.21. The company has a 50-day simple moving average of $107.06 and a 200 day simple moving average of $108.92. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two week high of $132.57. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.61.

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

Analyst Upgrades and Downgrades

Several analysts have weighed in on PLD shares. Wolfe Research lowered shares of Prologis from an “outperform” rating to a “peer perform” rating in a research note on Monday, April 21st. Truist Financial lowered their target price on shares of Prologis from $123.00 to $120.00 and set a “buy” rating for the company in a research note on Monday, May 5th. Royal Bank Of Canada lowered their target price on shares of Prologis from $128.00 to $117.00 and set a “sector perform” rating for the company in a research note on Tuesday, April 29th. Citigroup lowered their target price on shares of Prologis from $150.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, July 23rd. Finally, Wall Street Zen lowered shares of Prologis from a “hold” rating to a “sell” rating in a research report on Saturday, June 14th. Two 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $120.33.

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.