Prologis, Inc. (NYSE:PLD) Shares Sold by Heitman Real Estate Securities LLC

Heitman Real Estate Securities LLC cut its stake in shares of Prologis, Inc. (NYSE:PLD) by 6.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,191,519 shares of the real estate investment trust’s stock after selling 82,279 shares during the quarter. Prologis accounts for about 8.2% of Heitman Real Estate Securities LLC’s portfolio, making the stock its largest position. Heitman Real Estate Securities LLC owned about 0.13% of Prologis worth $150,465,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. American Capital Advisory LLC purchased a new stake in Prologis in the second quarter worth approximately $26,000. Semmax Financial Advisors Inc. acquired a new stake in Prologis during the 2nd quarter worth about $27,000. Central Valley Advisors LLC bought a new position in shares of Prologis in the second quarter worth about $29,000. Sunbelt Securities Inc. increased its stake in Prologis by 640.0% in the second quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 224 shares during the period. Finally, Wetzel Investment Advisors Inc. acquired a new position in Prologis during the 2nd quarter worth about $31,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Price Performance

Shares of Prologis stock opened at $115.82 on Tuesday. Prologis, Inc. has a twelve month low of $101.11 and a twelve month high of $137.52. The firm has a market cap of $107.27 billion, a P/E ratio of 34.99, a price-to-earnings-growth ratio of 3.41 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. The firm’s 50-day simple moving average is $118.70 and its 200-day simple moving average is $118.80.

Prologis (NYSE:PLD) last released its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.29). Prologis had a net margin of 39.08% and a return on equity of 5.34%. The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same period in the prior year, the company earned $1.30 EPS. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. As a group, research analysts expect that Prologis, Inc. will post 5.45 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on PLD shares. Barclays increased their price target on Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. Wells Fargo & Company lifted their price target on Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a research report on Wednesday, August 28th. The Goldman Sachs Group reissued a “neutral” rating and issued a $132.00 price target (down previously from $142.00) on shares of Prologis in a report on Monday, October 21st. Bank of America restated a “neutral” rating and issued a $128.00 price target on shares of Prologis in a research note on Monday, August 12th. Finally, Scotiabank cut their target price on shares of Prologis from $142.00 to $136.00 and set a “sector outperform” rating for the company in a research note on Friday, October 25th. Eight investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.25.

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.