Jacobs Levy Equity Management Inc. Buys 109,295 Shares of Prologis, Inc. (NYSE:PLD)

Jacobs Levy Equity Management Inc. lifted its stake in shares of Prologis, Inc. (NYSE:PLD) by 56.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 303,890 shares of the real estate investment trust’s stock after buying an additional 109,295 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in Prologis were worth $38,375,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Janus Henderson Group PLC lifted its stake in Prologis by 145.0% during the 3rd quarter. Janus Henderson Group PLC now owns 3,613,494 shares of the real estate investment trust’s stock valued at $456,320,000 after acquiring an additional 2,138,693 shares in the last quarter. HighTower Advisors LLC raised its holdings in shares of Prologis by 19.7% in the third quarter. HighTower Advisors LLC now owns 169,928 shares of the real estate investment trust’s stock valued at $21,500,000 after purchasing an additional 27,923 shares during the last quarter. Hilltop Holdings Inc. lifted its position in shares of Prologis by 290.7% during the third quarter. Hilltop Holdings Inc. now owns 32,009 shares of the real estate investment trust’s stock valued at $4,042,000 after purchasing an additional 23,816 shares in the last quarter. Benjamin Edwards Inc. boosted its holdings in Prologis by 736.6% during the third 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. Finally, Erste Asset Management GmbH bought a new stake in Prologis in the 3rd quarter worth about $16,052,000. Institutional investors own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Wells Fargo & Company lifted 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. JPMorgan Chase & Co. decreased 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. Barclays boosted their price objective on Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. Morgan Stanley raised their target price on Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. Finally, Bank of America reiterated a “neutral” rating and set a $128.00 target price on shares of Prologis in a research note on Monday, August 12th. Eight analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $131.25.

Prologis Stock Performance

NYSE PLD opened at $116.40 on Wednesday. The firm has a market cap of $107.81 billion, a P/E ratio of 35.17, a price-to-earnings-growth ratio of 3.39 and a beta of 1.07. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.56. The company’s 50 day moving average is $118.28 and its 200-day moving average is $118.87. Prologis, Inc. has a 12-month low of $101.11 and a 12-month high of $137.52.

Prologis (NYSE:PLD) last posted its 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 for the quarter, compared to analysts’ expectations of $1.91 billion. During the same quarter in the prior year, the company earned $1.30 EPS. The company’s revenue was up 6.9% on a year-over-year basis. Sell-side analysts predict that Prologis, Inc. will post 5.45 earnings per share for the current year.

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.