Ingalls & Snyder LLC Cuts Position in Prologis, Inc. (NYSE:PLD)

Ingalls & Snyder LLC reduced its position in shares of Prologis, Inc. (NYSE:PLD) by 1.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,699 shares of the real estate investment trust’s stock after selling 168 shares during the period. Ingalls & Snyder LLC’s holdings in Prologis were worth $1,351,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Prologis by 534.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,143,554 shares of the real estate investment trust’s stock worth $1,280,928,000 after purchasing an additional 8,545,336 shares during the period. Janus Henderson Group PLC grew its holdings in shares of Prologis by 145.0% in the third quarter. Janus Henderson Group PLC now owns 3,613,494 shares of the real estate investment trust’s stock valued at $456,320,000 after purchasing an additional 2,138,693 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in Prologis during the 2nd quarter worth approximately $203,223,000. AMF Tjanstepension AB lifted its holdings in Prologis by 267.9% during the 3rd quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust’s stock worth $236,879,000 after buying an additional 1,365,811 shares in the last quarter. Finally, Federated Hermes Inc. boosted its position in Prologis by 326.3% in the 2nd quarter. Federated Hermes Inc. now owns 1,774,932 shares of the real estate investment trust’s stock valued at $199,343,000 after buying an additional 1,358,542 shares during the period. 93.50% of the stock is owned by institutional investors and hedge funds.

Prologis Stock Up 0.5 %

PLD opened at $116.40 on Wednesday. The stock has a market capitalization of $107.81 billion, a P/E ratio of 35.17, a price-to-earnings-growth ratio of 3.39 and a beta of 1.07. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43. Prologis, Inc. has a one year low of $101.11 and a one year high of $137.52. The business’s 50-day simple moving average is $118.28 and its 200-day simple moving average is $118.87.

Prologis (NYSE:PLD) last released its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.29). The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. Prologis had a return on equity of 5.34% and a net margin of 39.08%. The company’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period last year, the firm earned $1.30 EPS. Analysts anticipate that Prologis, Inc. will post 5.45 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Scotiabank cut their price objective on Prologis from $142.00 to $136.00 and set a “sector outperform” rating on the stock in a research report on Friday, October 25th. The Goldman Sachs Group restated a “neutral” rating and set a $132.00 price target (down previously from $142.00) on shares of Prologis in a report on Monday, October 21st. Wells Fargo & Company lifted their price objective on Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a research note on Wednesday, August 28th. Evercore ISI raised their target price on shares of Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Finally, Morgan Stanley lifted their price target 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. Eight equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $131.25.

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.