The Vanguard Group, Inc. has recently announced that it has increased stake in Prologis Inc (NYSE:PLD) by 0.01%. After grabbing 115.48 million shares, the institutional investor is now in possession of 7937.0 shares of the Real Estate Company. The new investment brought the stake of investor firm to 12.50% having worth around $13.27 billion. Moreover, BlackRock Fund Advisors increased its share by 0.38 million to have a control over 57.88 million shares. And Geode Capital Management LLC raised its holdings to 0.4 million shares by acquiring 19.16 million shares or 2.07% of the stake.
Prologis Inc (PLD) concluded trading on 01/04/24 at a closing price of $130.29, with 3.6 million shares of worth about $469.54 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 5.94% during that period and on Thursday the price saw a loss of about -0.18%. Currently the company’s common shares owned by public are about 923.14M shares, out of which, 919.36M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 23 analysts are covering the PLD stock and their offered price forecasts bring an average price target of $139.24. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $157.00 and could fall to a lowest price of $119.00. The stock’s current price level is 6.43% above of average price target set by the analysts, while a rise to estimated low would result in loss of -9.49% for the stock. However, touching the estimated high of $157.00 would mean a gain of 17.01% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 14 times over the past 12 months. They bought 1,038,148 shares in 9 of the transactions. In 5 selling transactions, insiders dumped 1,041,719 shares.
Vanguard Real Estate Index Fund, Vanguard Total Stock Market ETF, and Vanguard 500 Index Fund are the top 3 mutual funds which are holding stakes in Prologis Inc Vanguard Real Estate Index Fund is currently holding 38.06 million shares of worth totaling $4.37 billion. The company recently came selling -0.28 million shares which brought its stake up to 4.12% of the company’s outstanding shares. Vanguard Total Stock Market ETF bought 34822.0 shares, after which its hold over company’s outstanding shares expand to 3.14%, leaving 28.97 million shares with the mutual fund that have a worth of about $3.33 billion. Vanguard 500 Index Fund, after buying 22.31 million shares, have now control over 2.42% of the stake in the company. It holds 0.11 million shares of worth $2.56 billion.
Prologis Inc (NYSE: PLD) started trading at $130.02, below -$0.5 from concluding price of the previous day. However, the stock later moved at a day high price of 131.10, or with a loss of -0.18%. Stock saw a price change of -2.90% in past 5 days and over the past one month there was a price change of 8.28%. Year-to-date (YTD), PLD shares are showing a performance of -2.26% which increased to 15.62% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $96.64 but also hit the highest price of $137.52 during that period. The average intraday trading volume for Prologis Inc shares is 3.69 million. The stock is currently trading 0.89% above its 20-day simple moving average (SMA20), while that difference is up 12.44% for SMA50 and it goes to 8.88% higher than SMA200.
The Vanguard Group, Inc. acquired 115.48 million shares of Prologis Inc having value of about $13.27 billion. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 7937.0 shares in the company valued at close to $1034111.73, or have control over 0.01% stake in the company. Prologis Inc (NYSE: PLD) currently have 923.14M outstanding shares and institutions hold larger chunk of about 93.78% of that. Holding of mutual funds in the company is about 40.34% while other institutional holders and individual stake holders have control over 55.59% and 0.48% of the stake respectively.
The stock has a current market capitalization of $121.50B and its 3Y-monthly beta is at 1.02. PE ratio of stock for trailing 12 months is 41.61, while it has posted earnings per share of $3.13 in the same period. It has a debt-to-equity ratio of 0.53. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for PLD, volatility over the week remained 1.72% while standing at 2.07% over the month.
Analysts are in expectations that Prologis Inc (PLD) stock would likely to be making an EPS of $0.55 in the current quarter, while forecast for next quarter EPS is $0.58 and it is $2.61 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.47 which is $0.62 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.63 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -24.70% while it is estimated to decrease by -16.33% in next year. EPS is likely to shrink at an annualized rate of -6.05% for next 5-years, compared to annual growth of 6.73% made by the stock over the past 5-years.
Analysts at 23 brokerage firms have issued recommendations for the Prologis Inc (PLD)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.35. Out of those 23 Wall Street analysts, 18 recommended a “Buy” rating, while 3 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by JP Morgan on December 18, 2023 offering an Overweight rating for the stock and assigned a target price range of between $123 and $148 to it.
