7,820 Shares in Prologis, Inc. (NYSE:PLD) Acquired by Coronation Fund Managers Ltd.

Coronation Fund Managers Ltd. purchased a new stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 7,820 shares of the real estate investment trust's stock, valued at approximately $878,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of PLD. Nordea Investment Management AB raised its holdings in Prologis by 380.0% in the 1st quarter. Nordea Investment Management AB now owns 333,022 shares of the real estate investment trust's stock worth $43,046,000 after purchasing an additional 263,649 shares during the period. Janney Capital Management LLC raised its holdings in Prologis by 18.8% in the 4th quarter. Janney Capital Management LLC now owns 23,872 shares of the real estate investment trust's stock worth $3,182,000 after purchasing an additional 3,773 shares during the period. Envestnet Portfolio Solutions Inc. raised its holdings in Prologis by 36.1% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 162,990 shares of the real estate investment trust's stock worth $18,305,000 after purchasing an additional 43,235 shares during the period. Atalanta Sosnoff Capital LLC purchased a new stake in Prologis in the 4th quarter worth $18,551,000. Finally, US Bancorp DE increased its stake in Prologis by 6.5% in the 1st quarter. US Bancorp DE now owns 676,912 shares of the real estate investment trust's stock worth $88,148,000 after buying an additional 41,469 shares in the last quarter. 93.50% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on PLD shares. BMO Capital Markets reiterated a "market perform" rating and issued a $115.00 price target on shares of Prologis in a research note on Monday, July 15th. Mizuho cut their price target on Prologis from $130.00 to $120.00 and set a "neutral" rating for the company in a research note on Friday, May 31st. Scotiabank increased their price target on Prologis from $130.00 to $135.00 and gave the stock a "sector outperform" rating in a research note on Wednesday, August 7th. Morgan Stanley increased their price target on Prologis from $132.00 to $133.00 and gave the stock an "overweight" rating in a research note on Wednesday. Finally, Barclays increased their price target on Prologis from $123.00 to $142.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 30th. Seven analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $131.81.

Prologis Stock Down 1.5 %

PLD stock traded down $1.92 during trading on Friday, hitting $122.85. 2,899,167 shares of the company's stock traded hands, compared to its average volume of 3,709,659. The firm has a market capitalization of $113.74 billion, a P/E ratio of 35.92, a PEG ratio of 3.02 and a beta of 1.06. The business has a fifty day simple moving average of $117.88 and a two-hundred day simple moving average of $119.34. Prologis, Inc. has a 1 year low of $96.64 and a 1 year high of $137.52. The company has a quick ratio of 0.29, a current ratio of 0.36 and a debt-to-equity ratio of 0.52.

Prologis (NYSE:PLD - Get Free Report) last issued its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share for the quarter, missing analysts' consensus estimates of $1.33 by ($0.41). The firm had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.86 billion. Prologis had a return on equity of 4.88% and a net margin of 36.37%. The company's revenue was down 18.1% on a year-over-year basis. During the same quarter last year, the company posted $1.83 EPS. Sell-side analysts anticipate that Prologis, Inc. will post 5.43 EPS for the current year.

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.