Prologis, Inc. (NYSE:PLD) Stock Position Decreased by Centiva Capital LP

by · The Cerbat Gem

Centiva Capital LP lessened its holdings in shares of Prologis, Inc. (NYSE:PLD – Free Report) by 2.5% in the third quarter, Holdings Channel.com reports. The institutional investor owned 20,390 shares of the real estate investment trust’s stock after selling 530 shares during the quarter. Centiva Capital LP’s holdings in Prologis were worth $2,575,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Benjamin Edwards Inc. grew its position in Prologis by 736.6% in the 3rd quarter. Benjamin Edwards Inc. now owns 23,641 shares of the real estate investment trust’s stock worth $2,986,000 after purchasing an additional 20,815 shares during the last quarter. Erste Asset Management GmbH bought a new position in Prologis in the 3rd quarter worth about $16,052,000. Caisse DE Depot ET Placement DU Quebec grew its position in Prologis by 569.7% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 414,273 shares of the real estate investment trust’s stock worth $52,314,000 after purchasing an additional 352,412 shares during the last quarter. Eventide Asset Management LLC bought a new position in Prologis in the 3rd quarter worth about $4,001,000. Finally, Rockefeller Capital Management L.P. grew its position in Prologis by 0.3% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 518,965 shares of the real estate investment trust’s stock worth $65,538,000 after purchasing an additional 1,441 shares during the last quarter. Institutional investors own 93.50% of the company’s stock.

Prologis Stock Performance

NYSE:PLD 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 company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56. The company has a 50-day moving average of $118.70 and a 200-day moving average of $118.80. The firm has a market cap 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 (NYSE:PLD – Get Free Report) last posted its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $1.91 billion. During the same period in the prior year, the company posted $1.30 earnings per share. Prologis’s quarterly revenue was up 6.9% compared to the same quarter last year. Analysts forecast that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have commented on PLD. Scotiabank decreased 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 report on Friday, October 25th. Wells Fargo & Company upped their target price on shares of Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 28th. Truist Financial upped their target price on shares of Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Morgan Stanley raised their price objective on shares of Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. Finally, Evercore ISI boosted their target price on Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Eight equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $131.25.

Check Out Our Latest Analysis on PLD

Prologis Company Profile

(Free Report)

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.

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