Investment Management Corp of Ontario Buys 10,100 Shares of Prologis, Inc. (NYSE:PLD)

Investment Management Corp of Ontario lifted its stake in Prologis, Inc. (NYSE:PLD) by 48.9% in the third quarter, HoldingsChannel reports. The institutional investor owned 30,739 shares of the real estate investment trust’s stock after buying an additional 10,100 shares during the quarter. Investment Management Corp of Ontario’s holdings in Prologis were worth $3,882,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of 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 valued at $1,280,928,000 after acquiring 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 3rd quarter. Janus Henderson Group PLC now owns 3,613,494 shares of the real estate investment trust’s stock worth $456,320,000 after purchasing an additional 2,138,693 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of Prologis during the 2nd quarter worth about $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 valued at $236,879,000 after purchasing an additional 1,365,811 shares during the last quarter. Finally, Federated Hermes Inc. boosted its position in Prologis by 326.3% in the second 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 in the last quarter. Institutional investors own 93.50% of the company’s stock.

Prologis Price Performance

Shares of PLD stock opened at $116.40 on Wednesday. The firm’s 50 day moving average price is $118.28 and its two-hundred day moving average price is $118.87. 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 52-week low of $101.11 and a 52-week high of $137.52. The stock has a market cap of $107.81 billion, a PE ratio of 35.17, a PEG ratio of 3.39 and a beta of 1.07.

Prologis (NYSE:PLD) last posted its quarterly earnings results 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 return on equity of 5.34% and a net margin of 39.08%. The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.30 earnings per share. As a group, analysts forecast that Prologis, Inc. will post 5.45 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently weighed in on PLD shares. Evercore ISI raised their price objective on shares of Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. JPMorgan Chase & Co. cut their price objective on Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. The Goldman Sachs Group restated a “neutral” rating and set a $132.00 target price (down previously from $142.00) on shares of Prologis in a report on Monday, October 21st. Wells Fargo & Company lifted their price target on Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a report on Wednesday, August 28th. Finally, Bank of America reissued a “neutral” rating and set a $128.00 price objective on shares of Prologis in a report on Monday, August 12th. Eight analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Prologis has an average rating of “Moderate Buy” and an average price target of $131.25.

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.