Prologis, Inc. (NYSE:PLD) Stake Lowered by QRG Capital Management Inc.

QRG Capital Management Inc. lowered its position in Prologis, Inc. (NYSE:PLD) by 10.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 79,441 shares of the real estate investment trust’s stock after selling 9,360 shares during the quarter. QRG Capital Management Inc.’s holdings in Prologis were worth $8,922,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Webster Bank N. A. increased its holdings in shares of Prologis by 163.8% in the 2nd quarter. Webster Bank N. A. now owns 562 shares of the real estate investment trust’s stock valued at $63,000 after purchasing an additional 349 shares during the period. Capital Investment Advisors LLC lifted its stake in shares of Prologis by 2.8% in the second quarter. Capital Investment Advisors LLC now owns 29,049 shares of the real estate investment trust’s stock valued at $3,262,000 after buying an additional 796 shares during the period. Baldwin Brothers LLC MA lifted its position in shares of Prologis by 1.1% in the 2nd quarter. Baldwin Brothers LLC MA now owns 72,129 shares of the real estate investment trust’s stock worth $8,101,000 after acquiring an additional 813 shares during the period. LGT Capital Partners LTD. lifted its position in Prologis by 16.7% in the second quarter. LGT Capital Partners LTD. now owns 52,040 shares of the real estate investment trust’s stock worth $5,845,000 after purchasing an additional 7,440 shares during the period. Finally, CHICAGO TRUST Co NA boosted its position in shares of Prologis by 3.6% during the 2nd quarter. CHICAGO TRUST Co NA now owns 4,816 shares of the real estate investment trust’s stock valued at $541,000 after acquiring an additional 168 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Stock Down 0.1 %

PLD traded down $0.09 on Friday, hitting $121.90. The company had a trading volume of 1,901,869 shares, compared to its average volume of 3,743,113. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.36 and a quick ratio of 0.29. Prologis, Inc. has a 52-week low of $96.64 and a 52-week high of $137.52. The firm has a market capitalization of $112.86 billion, a P/E ratio of 35.64, a P/E/G ratio of 3.02 and a beta of 1.06. The stock has a fifty day simple moving average of $116.51 and a 200-day simple moving average of $119.47.

Prologis (NYSE:PLD) last released its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.41). Prologis had a return on equity of 4.88% and a net margin of 36.37%. The business had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter in the prior year, the business posted $1.83 EPS. The business’s revenue for the quarter was down 18.1% compared to the same quarter last year. As a group, equities analysts expect that Prologis, Inc. will post 5.43 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have issued reports on PLD shares. Robert W. Baird cut their price objective on Prologis from $137.00 to $117.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. Scotiabank raised their price target on Prologis from $130.00 to $135.00 and gave the stock a “sector outperform” rating in a research report on Wednesday. Argus boosted their price objective on shares of Prologis from $120.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Mizuho decreased their target price on Prologis from $130.00 to $120.00 and set a “neutral” rating for the company in a research note on Friday, May 31st. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Prologis from $143.00 to $128.00 and set an “overweight” rating for the company in a research report on Thursday, April 25th. Six equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Prologis has an average rating of “Moderate Buy” and an average target price of $132.60.

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.