Natixis Advisors LLC Lowers Stock Position in Prologis, Inc. (NYSE:PLD)

Natixis Advisors LLC cut its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 23.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,181,483 shares of the real estate investment trust's stock after selling 363,248 shares during the quarter. Natixis Advisors LLC owned 0.13% of Prologis worth $132,693,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in PLD. Valeo Financial Advisors LLC raised its position in Prologis by 182,067.2% during the first quarter. Valeo Financial Advisors LLC now owns 48,877,279 shares of the real estate investment trust's stock valued at $6,364,799,000 after purchasing an additional 48,850,448 shares in the last quarter. Norges Bank acquired a new position in Prologis during the fourth quarter valued at approximately $1,074,648,000. Capital World Investors raised its position in Prologis by 1,252.9% during the fourth quarter. Capital World Investors now owns 7,305,582 shares of the real estate investment trust's stock valued at $973,834,000 after purchasing an additional 6,765,582 shares in the last quarter. Swedbank AB acquired a new position in Prologis during the first quarter valued at approximately $596,614,000. Finally, Alphinity Investment Management Pty Ltd acquired a new position in Prologis during the first quarter valued at approximately $465,659,000. 93.50% of the stock is owned by institutional investors.

Insider Buying and Selling at Prologis

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the company's stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $129.07, for a total transaction of $671,164.00. Following the sale, the executive now owns 13,187 shares of the company's stock, valued at $1,702,046.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.50% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Argus boosted their price objective on shares of Prologis from $120.00 to $135.00 and gave the company a "buy" rating in a research report on Tuesday, July 23rd. Wells Fargo & Company boosted their target price on shares of Prologis from $142.00 to $146.00 and gave the stock an "overweight" rating in a research note on Wednesday. Morgan Stanley boosted their target price on shares of Prologis from $132.00 to $133.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 14th. The Goldman Sachs Group boosted their target price on shares of Prologis from $140.00 to $156.00 and gave the stock a "buy" rating in a research note on Thursday, July 25th. Finally, Evercore ISI boosted their target price on shares of Prologis from $122.00 to $124.00 and gave the stock an "in-line" rating in a research note on Wednesday. Seven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $133.12.

Prologis Trading Up 2.0 %

PLD traded up $2.49 during trading on Friday, reaching $127.82. 3,618,100 shares of the stock traded hands, compared to its average volume of 2,840,916. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $118.35 billion, a PE ratio of 37.37, a P/E/G ratio of 3.28 and a beta of 1.06. The stock's 50-day moving average is $121.00 and its 200 day moving average is $119.10. 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 issued 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 firm had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.86 billion. Prologis had a net margin of 36.37% and a return on equity of 4.88%. The business's revenue was down 18.1% compared to the same quarter last year. During the same period last year, the company posted $1.83 EPS. Equities analysts anticipate that Prologis, Inc. will post 5.42 earnings per share 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.