BNP PARIBAS ASSET MANAGEMENT Holding S.A. Sells 596,720 Shares of Prologis, Inc. (NYSE:PLD)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. lowered its position in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 76.7% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 181,544 shares of the real estate investment trust's stock after selling 596,720 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A.'s holdings in Prologis were worth $20,389,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in PLD. True Wealth Design LLC bought a new stake in shares of Prologis during the 4th quarter worth approximately $27,000. Optimum Investment Advisors bought a new position in Prologis during the first quarter worth $26,000. JFS Wealth Advisors LLC lifted its stake in shares of Prologis by 254.5% in the 4th quarter. JFS Wealth Advisors LLC now owns 234 shares of the real estate investment trust's stock valued at $31,000 after purchasing an additional 168 shares during the period. American Capital Advisory LLC acquired a new position in Prologis in the second quarter valued at approximately $26,000. Finally, Clear Investment Research LLC boosted its stake in Prologis by 188.1% during the fourth quarter. Clear Investment Research LLC now owns 242 shares of the real estate investment trust's stock worth $32,000 after acquiring an additional 158 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company's stock.

Insider Activity at Prologis

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the firm's stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $129.07, for a total value of $671,164.00. Following the sale, the executive now owns 13,187 shares of the company's stock, valued at approximately $1,702,046.09. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. StockNews.com upgraded Prologis from a "sell" rating to a "hold" rating in a report on Thursday, July 18th. Bank of America reissued a "neutral" rating and set a $128.00 target price on shares of Prologis in a research report on Monday, August 12th. Wells Fargo & Company increased their target price on Prologis from $142.00 to $146.00 and gave the stock an "overweight" rating in a research report on Wednesday. The Goldman Sachs Group raised their price objective on shares of Prologis from $140.00 to $156.00 and gave the company a "buy" rating in a research report on Thursday, July 25th. Finally, Scotiabank lifted their price objective on Prologis from $135.00 to $142.00 and gave the company a "sector outperform" rating in a research note on Monday. Seven investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Prologis currently has a consensus rating of "Moderate Buy" and a consensus target price of $133.12.

Prologis Trading Up 1.9 %

Shares of PLD traded up $2.40 during trading hours on Friday, hitting $127.73. The company had a trading volume of 3,618,011 shares, compared to its average volume of 3,634,252. The firm has a market cap of $118.26 billion, a P/E ratio of 37.35, a P/E/G ratio of 3.02 and a beta of 1.06. Prologis, Inc. has a 52-week low of $96.64 and a 52-week high of $137.52. The stock's 50 day moving average price is $120.63 and its 200 day moving average price is $119.21. 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 quarterly 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). The company had revenue of $2.01 billion during the quarter, compared to analysts' expectations of $1.86 billion. Prologis had a return on equity of 4.88% and a net margin of 36.37%. Prologis's revenue for the quarter was down 18.1% on a year-over-year basis. During the same period last year, the firm earned $1.83 earnings per share. On average, research analysts predict that Prologis, Inc. will post 5.43 EPS for the current year.

Prologis 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.