APG Asset Management N.V. Sells 40,274 Shares of Prologis, Inc. $PLD

APG Asset Management N.V. cut its position in shares of Prologis, Inc. (NYSE:PLD) by 5.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 654,196 shares of the real estate investment trust’s stock after selling 40,274 shares during the quarter. APG Asset Management N.V. owned about 0.07% of Prologis worth $67,703,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. boosted its position in shares of Prologis by 1.0% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 50,253 shares of the real estate investment trust’s stock valued at $5,618,000 after purchasing an additional 509 shares in the last quarter. Van Hulzen Asset Management LLC boosted its holdings in Prologis by 5.6% in the first quarter. Van Hulzen Asset Management LLC now owns 1,799 shares of the real estate investment trust’s stock worth $201,000 after acquiring an additional 96 shares in the last quarter. Strategies Wealth Advisors LLC bought a new stake in Prologis in the first quarter worth $236,000. Kestra Advisory Services LLC boosted its holdings in Prologis by 1.8% in the first quarter. Kestra Advisory Services LLC now owns 80,570 shares of the real estate investment trust’s stock worth $9,007,000 after acquiring an additional 1,403 shares in the last quarter. Finally, Laffer Tengler Investments Inc. boosted its holdings in Prologis by 7.2% in the first quarter. Laffer Tengler Investments Inc. now owns 43,763 shares of the real estate investment trust’s stock worth $4,892,000 after acquiring an additional 2,957 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PLD has been the topic of several analyst reports. Wall Street Zen downgraded Prologis from a “hold” rating to a “sell” rating in a report on Saturday, June 14th. Robert W. Baird dropped their target price on Prologis from $126.00 to $120.00 and set an “outperform” rating on the stock in a report on Wednesday, May 7th. Barclays dropped their target price on Prologis from $132.00 to $119.00 and set an “overweight” rating on the stock in a report on Wednesday, April 30th. Wells Fargo & Company set a $137.00 target price on Prologis and gave the stock an “overweight” rating in a report on Sunday, July 13th. Finally, Royal Bank Of Canada lowered their price target on Prologis from $128.00 to $117.00 and set a “sector perform” rating on the stock in a report on Tuesday, April 29th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Prologis currently has a consensus rating of “Moderate Buy” and a consensus price target of $121.06.

Prologis Stock Up 3.5%

Prologis stock opened at $112.17 on Friday. The stock has a market cap of $104.12 billion, a PE ratio of 30.40, a price-to-earnings-growth ratio of 2.72 and a beta of 1.21. 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, Inc. has a one year low of $85.35 and a one year high of $132.57. The stock has a fifty day moving average of $107.21 and a 200 day moving average of $108.83.

Prologis (NYSE:PLD) last posted its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.05. The company had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Prologis had a return on equity of 5.96% and a net margin of 40.29%.Prologis’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.34 earnings per share. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. As a group, sell-side analysts predict that Prologis, Inc. will post 5.73 EPS for the current year.

About Prologis

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.