Raymond James Financial Services Advisors Inc. Sells 52,191 Shares of Prologis, Inc. (NYSE:PLD)

Raymond James Financial Services Advisors Inc. decreased its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 23.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 174,993 shares of the real estate investment trust's stock after selling 52,191 shares during the quarter. Raymond James Financial Services Advisors Inc.'s holdings in Prologis were worth $19,653,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Prologis by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 120,945,384 shares of the real estate investment trust's stock worth $15,749,508,000 after acquiring an additional 1,460,229 shares during the last quarter. Valeo Financial Advisors LLC grew its holdings in Prologis by 182,067.2% during the 1st quarter. Valeo Financial Advisors LLC now owns 48,877,279 shares of the real estate investment trust's stock worth $6,364,799,000 after acquiring an additional 48,850,448 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Prologis by 3.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,532,773 shares of the real estate investment trust's stock worth $1,670,621,000 after acquiring an additional 365,904 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Prologis by 1.0% during the 4th quarter. Principal Financial Group Inc. now owns 12,325,559 shares of the real estate investment trust's stock worth $1,642,997,000 after acquiring an additional 123,902 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Prologis by 1.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 9,519,818 shares of the real estate investment trust's stock worth $1,268,992,000 after acquiring an additional 175,276 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently commented on PLD. The Goldman Sachs Group upped their price objective on shares of Prologis from $140.00 to $156.00 and gave the company a "buy" rating in a research note on Thursday, July 25th. Morgan Stanley boosted their target price on shares of Prologis from $132.00 to $133.00 and gave the company an "overweight" rating in a research report on Wednesday, August 14th. BMO Capital Markets reiterated a "market perform" rating and set a $115.00 target price on shares of Prologis in a research report on Monday, July 15th. Royal Bank of Canada downgraded shares of Prologis from an "outperform" rating to a "sector perform" rating and boosted their target price for the company from $124.00 to $127.00 in a research report on Monday, August 5th. Finally, Mizuho dropped their target price on shares of Prologis from $130.00 to $120.00 and set a "neutral" rating on the stock in a research report on Friday, May 31st. Seven equities research 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 stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $131.75.

Prologis Stock Up 0.3 %

Shares of PLD stock traded up $0.33 on Wednesday, hitting $124.48. The stock had a trading volume of 2,086,047 shares, compared to its average volume of 3,676,927. The business has a 50 day moving average of $118.64 and a 200 day moving average of $119.25. The stock has a market cap of $115.25 billion, a price-to-earnings ratio of 36.40, a price-to-earnings-growth ratio of 3.02 and a beta of 1.06. 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 12-month low of $96.64 and a 12-month high of $137.52.

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 the consensus estimate of $1.33 by ($0.41). The firm had revenue of $2.01 billion during the quarter, compared to analysts' expectations of $1.86 billion. Prologis had a net margin of 36.37% and a return on equity of 4.88%. The business's revenue for the quarter was down 18.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.83 EPS. As a group, analysts expect 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.