Prologis, Inc. (NYSE:PLD) Shares Sold by Sarasin & Partners LLP

Sarasin & Partners LLP cut its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 30.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,029,969 shares of the real estate investment trust's stock after selling 455,924 shares during the quarter. Sarasin & Partners LLP owned about 0.11% of Prologis worth $115,676,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Nordea Investment Management AB increased its stake in Prologis by 380.0% in the first quarter. Nordea Investment Management AB now owns 333,022 shares of the real estate investment trust's stock valued at $43,046,000 after purchasing an additional 263,649 shares during the period. Janney Capital Management LLC increased its stake in Prologis by 18.8% in the fourth quarter. Janney Capital Management LLC now owns 23,872 shares of the real estate investment trust's stock valued at $3,182,000 after purchasing an additional 3,773 shares during the period. Envestnet Portfolio Solutions Inc. increased its stake in shares of Prologis by 36.1% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 162,990 shares of the real estate investment trust's stock worth $18,305,000 after acquiring an additional 43,235 shares during the period. Atalanta Sosnoff Capital LLC acquired a new position in shares of Prologis during the fourth quarter worth about $18,551,000. Finally, US Bancorp DE raised its holdings in Prologis by 6.5% during the first quarter. US Bancorp DE now owns 676,912 shares of the real estate investment trust's stock worth $88,148,000 after purchasing an additional 41,469 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on PLD. Argus increased their price target on shares of Prologis from $120.00 to $135.00 and gave the stock a "buy" rating in a report on Tuesday, July 23rd. The Goldman Sachs Group increased their price target on shares of Prologis from $140.00 to $156.00 and gave the stock a "buy" rating in a report on Thursday, July 25th. Bank of America reissued a "neutral" rating and set a $128.00 price target on shares of Prologis in a report on Monday, August 12th. Morgan Stanley increased their price target on shares of Prologis from $132.00 to $133.00 and gave the stock an "overweight" rating in a report on Wednesday. Finally, StockNews.com raised shares of Prologis from a "sell" rating to a "hold" rating in a report on Thursday, July 18th. Seven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Prologis currently has a consensus rating of "Moderate Buy" and an average price target of $131.81.

Prologis Price Performance

Shares of PLD stock traded down $1.92 during trading hours on Friday, hitting $122.85. The company's stock had a trading volume of 2,899,167 shares, compared to its average volume of 3,709,659. The business has a fifty day moving average of $117.88 and a 200-day moving average of $119.29. The stock has a market cap of $113.74 billion, a price-to-earnings ratio of 35.92, a P/E/G ratio of 3.02 and a beta of 1.06. Prologis, Inc. has a twelve month low of $96.64 and a twelve month high of $137.52. The company has a current ratio of 0.36, a quick ratio of 0.29 and a debt-to-equity ratio of 0.52.

Prologis (NYSE:PLD - Get Free Report) last released its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.41). Prologis had a net margin of 36.37% and a return on equity of 4.88%. The business had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the prior year, the company earned $1.83 earnings per share. The firm's revenue for the quarter was down 18.1% compared to the same quarter last year. As a group, equities research 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.