Janus Henderson Group PLC Buys 2,138,693 Shares of Prologis, Inc. (NYSE:PLD)

Janus Henderson Group PLC lifted its stake in Prologis, Inc. (NYSE:PLD) by 145.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,613,494 shares of the real estate investment trust’s stock after buying an additional 2,138,693 shares during the quarter. Janus Henderson Group PLC owned approximately 0.39% of Prologis worth $456,320,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in PLD. ASB Consultores LLC lifted its holdings in shares of Prologis by 3.7% in the 3rd quarter. ASB Consultores LLC now owns 2,423 shares of the real estate investment trust’s stock valued at $306,000 after purchasing an additional 86 shares during the last quarter. Arbor Capital Management Inc. ADV grew its stake in shares of Prologis by 0.8% during the second quarter. Arbor Capital Management Inc. ADV now owns 11,602 shares of the real estate investment trust’s stock valued at $1,299,000 after acquiring an additional 87 shares in the last quarter. CX Institutional boosted its stake in Prologis by 2.7% in the third quarter. CX Institutional now owns 3,347 shares of the real estate investment trust’s stock valued at $423,000 after acquiring an additional 88 shares during the period. Mitchell Sinkler & Starr PA raised its holdings in shares of Prologis by 5.1% during the second quarter. Mitchell Sinkler & Starr PA now owns 1,860 shares of the real estate investment trust’s stock valued at $228,000 after buying an additional 90 shares during the last quarter. Finally, Destination Wealth Management increased its holdings in shares of Prologis by 4.7% in the second quarter. Destination Wealth Management now owns 2,033 shares of the real estate investment trust’s stock valued at $228,000 after buying an additional 92 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Stock Down 0.8 %

PLD opened at $115.82 on Tuesday. The stock has a market capitalization of $107.27 billion, a price-to-earnings ratio of 34.99, a PEG ratio of 3.41 and a beta of 1.07. Prologis, Inc. has a twelve month low of $101.11 and a twelve month high of $137.52. The firm has a 50 day moving average price of $118.70 and a 200-day moving average price of $118.80. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.56.

Prologis (NYSE:PLD) last announced its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.29). Prologis had a net margin of 39.08% and a return on equity of 5.34%. The company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. During the same period in the previous year, the business earned $1.30 earnings per share. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. Equities research analysts forecast that Prologis, Inc. will post 5.45 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on PLD. Bank of America reaffirmed a “neutral” rating and issued a $128.00 price target on shares of Prologis in a report on Monday, August 12th. Evercore ISI lifted their price target on shares of Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. The Goldman Sachs Group reiterated a “neutral” rating and set a $132.00 price target (down from $142.00) on shares of Prologis in a report on Monday, October 21st. Scotiabank dropped their target price on shares of Prologis from $142.00 to $136.00 and set a “sector outperform” rating on the stock in a research report on Friday, October 25th. Finally, Royal Bank of Canada downgraded shares of Prologis from an “outperform” rating to a “sector perform” rating and lifted their price objective for the stock from $124.00 to $127.00 in a report on Monday, August 5th. 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 stock. According to data from MarketBeat, Prologis has a consensus rating of “Moderate Buy” and an average target price of $131.25.

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.