Chevy Chase Trust Holdings LLC Trims Stake in Prologis, Inc. (NYSE:PLD)

Chevy Chase Trust Holdings LLC cut its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 1.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 511,271 shares of the real estate investment trust's stock after selling 6,199 shares during the period. Chevy Chase Trust Holdings LLC owned 0.06% of Prologis worth $57,421,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of PLD. Nordea Investment Management AB lifted its position in Prologis by 380.0% during the 1st quarter. Nordea Investment Management AB now owns 333,022 shares of the real estate investment trust's stock valued at $43,046,000 after acquiring an additional 263,649 shares during the period. Janney Capital Management LLC boosted its position in shares of 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 in the last quarter. Swedbank AB increased its position in Prologis by 9.2% during the 2nd quarter. Swedbank AB now owns 5,002,274 shares of the real estate investment trust's stock valued at $561,805,000 after buying an additional 420,687 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its stake in 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 valued at $18,305,000 after buying an additional 43,235 shares during the last quarter. Finally, Atalanta Sosnoff Capital LLC bought a new stake in Prologis in the fourth quarter worth $18,551,000. 93.50% of the stock is owned by institutional investors.

Prologis Stock Performance

PLD traded down $0.55 during trading on Tuesday, hitting $124.15. The company's stock had a trading volume of 2,106,325 shares, compared to its average volume of 3,686,869. The business's 50 day simple moving average is $118.15 and its 200-day simple moving average is $119.25. The firm has a market cap of $114.94 billion, a PE ratio of 36.30, a P/E/G ratio of 3.02 and a beta of 1.06. Prologis, Inc. has a one year low of $96.64 and a one 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 announced its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 EPS for the quarter, missing analysts' consensus estimates of $1.33 by ($0.41). Prologis had a return on equity of 4.88% and a net margin of 36.37%. The company had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the prior year, the business posted $1.83 earnings per share. Prologis's revenue for the quarter was down 18.1% compared to the same quarter last year. As a group, sell-side analysts predict that Prologis, Inc. will post 5.43 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PLD has been the topic of a number of analyst reports. Barclays upped their price target on shares of Prologis from $123.00 to $142.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 30th. Morgan Stanley increased their price target on shares of Prologis from $132.00 to $133.00 and gave the company an "overweight" rating in a report on Wednesday, August 14th. The Goldman Sachs Group boosted their price objective on shares of Prologis from $140.00 to $156.00 and gave the stock a "buy" rating in a report on Thursday, July 25th. BMO Capital Markets reiterated a "market perform" rating and set a $115.00 target price on shares of Prologis in a research note on Monday, July 15th. Finally, Scotiabank boosted 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. Seven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $131.75.

About Prologis

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.

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