Korea Investment CORP Sells 84,955 Shares of Prologis, Inc. $PLD

Korea Investment CORP decreased its holdings in shares of Prologis, Inc. (NYSE:PLD) by 13.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 545,667 shares of the real estate investment trust’s stock after selling 84,955 shares during the period. Korea Investment CORP owned approximately 0.06% of Prologis worth $57,361,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Activest Wealth Management lifted its position in Prologis by 637.1% in the 1st quarter. Activest Wealth Management now owns 258 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 223 shares in the last quarter. Pandora Wealth Inc. bought a new stake in Prologis during the 1st quarter worth approximately $34,000. GKV Capital Management Co. Inc. purchased a new stake in shares of Prologis in the first quarter worth approximately $34,000. Saudi Central Bank bought a new position in shares of Prologis in the first quarter valued at approximately $41,000. Finally, Barrett & Company Inc. bought a new position in shares of Prologis in the second quarter valued at approximately $44,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Stock Performance

Shares of PLD stock opened at $128.38 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.65 and a current ratio of 0.64. The firm has a market cap of $119.25 billion, a price-to-earnings ratio of 37.43, a P/E/G ratio of 3.13 and a beta of 1.29. Prologis, Inc. has a 52 week low of $85.35 and a 52 week high of $129.28. The firm’s 50-day simple moving average is $121.25 and its two-hundred day simple moving average is $113.02.

Prologis (NYSE:PLD) last released its earnings results on Wednesday, October 15th. The real estate investment trust reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.05. The firm had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.03 billion. Prologis had a net margin of 36.71% and a return on equity of 5.55%. The company’s revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.43 EPS. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. As a group, equities analysts forecast that Prologis, Inc. will post 5.73 earnings per share for the current year.

Analyst Ratings Changes

PLD has been the subject of several recent research reports. Bank of America upgraded Prologis from a “neutral” rating to a “buy” rating and upped their price target for the stock from $118.00 to $130.00 in a report on Tuesday, September 16th. Mizuho set a $118.00 target price on shares of Prologis and gave the stock an “outperform” rating in a research note on Tuesday, August 19th. Barclays lowered their target price on shares of Prologis from $119.00 to $118.00 and set an “overweight” rating for the company in a report on Monday, September 15th. Evercore ISI upped their price objective on shares of Prologis from $113.00 to $116.00 and gave the stock an “in-line” rating in a research report on Thursday, October 16th. Finally, UBS Group set a $133.00 price objective on shares of Prologis in a research note on Monday, November 10th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, Prologis presently has an average rating of “Moderate Buy” and a consensus target price of $125.39.

Insider Activity

In other Prologis news, Director Cristina Gabriela Bita sold 500 shares of the business’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $123.14, for a total value of $61,570.00. Following the sale, the director directly owned 8,829 shares in the company, valued at $1,087,203.06. The trade was a 5.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold 2,000 shares of company stock valued at $230,415 in the last 90 days. Insiders own 0.57% of the company’s stock.

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.