American Century Companies Inc. Cuts Stock Position in Prologis, Inc. (NYSE:PLD)

American Century Companies Inc. lessened its holdings in Prologis, Inc. (NYSE:PLD) by 14.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,545,514 shares of the real estate investment trust’s stock after selling 418,558 shares during the period. American Century Companies Inc.’s holdings in Prologis were worth $284,563,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Prologis by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 121,339,410 shares of the real estate investment trust’s stock worth $13,564,533,000 after purchasing an additional 869,310 shares during the last quarter. Northern Trust Corp lifted its holdings in Prologis by 54.6% during the 4th quarter. Northern Trust Corp now owns 13,855,339 shares of the real estate investment trust’s stock worth $1,464,509,000 after buying an additional 4,893,284 shares during the last quarter. Nuveen LLC bought a new position in Prologis during the 1st quarter worth approximately $1,456,768,000. Capital Research Global Investors lifted its holdings in Prologis by 25.4% during the 4th quarter. Capital Research Global Investors now owns 12,345,523 shares of the real estate investment trust’s stock worth $1,304,922,000 after buying an additional 2,500,761 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Prologis by 5.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,648,872 shares of the real estate investment trust’s stock valued at $1,125,586,000 after buying an additional 505,318 shares during the period. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Stock Down 0.2%

PLD opened at $105.99 on Friday. The company has a market capitalization of $98.37 billion, a P/E ratio of 28.72, a P/E/G ratio of 2.66 and a beta of 1.21. The stock has a fifty day moving average of $107.18 and a 200-day moving average of $109.27. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two week high of $132.57. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.65 and a current ratio of 0.65.

Prologis (NYSE:PLD) last announced its earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 EPS for the quarter, beating the consensus estimate of $1.41 by $0.05. Prologis had a return on equity of 5.96% and a net margin of 40.29%. The business had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the prior year, the business posted $1.34 earnings per share. The firm’s revenue was up 8.8% on a year-over-year basis. On average, equities analysts expect that Prologis, Inc. will post 5.73 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PLD. Barclays decreased their price target on shares of Prologis from $132.00 to $119.00 and set an “overweight” rating for the company in a report on Wednesday, April 30th. Scotiabank boosted their target price on shares of Prologis from $97.00 to $100.00 and gave the company a “sector underperform” rating in a research note on Monday, May 12th. Citigroup reduced their target price on shares of Prologis from $150.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, July 23rd. Evercore ISI dropped their price target on shares of Prologis from $111.00 to $106.00 and set an “in-line” rating on the stock in a research report on Thursday, April 17th. Finally, Truist Financial dropped their target price on shares of Prologis from $123.00 to $120.00 and set a “buy” rating on the stock in a report on Monday, May 5th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Prologis presently has an average rating of “Moderate Buy” and a consensus price target of $120.33.

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.