Prologis, Inc. (NYSE:PLD) Position Trimmed by Heard Capital LLC

Heard Capital LLC decreased its stake in Prologis, Inc. (NYSE:PLD) by 4.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,055,764 shares of the real estate investment trust’s stock after selling 49,136 shares during the quarter. Prologis comprises 7.5% of Heard Capital LLC’s portfolio, making the stock its 7th biggest holding. Heard Capital LLC owned about 0.11% of Prologis worth $133,322,000 as of its most recent filing with the SEC.

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

Prologis Stock Down 0.8 %

PLD stock opened at $115.82 on Tuesday. The company has a 50-day moving average of $118.70 and a two-hundred day moving average of $118.80. The stock has a market capitalization of $107.27 billion, a price-to-earnings ratio of 34.99, a price-to-earnings-growth ratio of 3.41 and a beta of 1.08. Prologis, Inc. has a 52-week low of $101.11 and a 52-week high of $137.52. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43.

Prologis (NYSE:PLD) last announced 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). The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. Prologis had a net margin of 39.08% and a return on equity of 5.34%. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.30 EPS. As a group, equities research analysts anticipate that Prologis, Inc. will post 5.45 EPS for the current year.

Analyst Ratings Changes

Several research firms have issued reports on PLD. Truist Financial increased their price objective on Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Wells Fargo & Company upped 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. Scotiabank lowered their target price on shares of Prologis from $142.00 to $136.00 and set a “sector outperform” rating for the company in a report on Friday, October 25th. JPMorgan Chase & Co. dropped their price target on Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. Finally, Bank of America reaffirmed a “neutral” rating and set a $128.00 price objective on shares of Prologis in a research report on Monday, August 12th. Eight equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Prologis currently has an average rating of “Moderate Buy” and a consensus 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.