BlackRock Fund Advisors has recently announced that it has increased stake in Prologis Inc. (NYSE:PLD) by 1.49%. After grabbing 58.3 million shares, the institutional investor is now in possession of 0.86 million shares of the Real Estate Company. The new investment brought the stake of investor firm to 6.32% having worth around $6.46 billion. Moreover, Cohen & Steers Capital Management increased its share by 4.78 million to have a control over 47.08 million shares. And JPMorgan Investment Management, I raised its holdings to 3.34 million shares by acquiring 23.66 million shares or 2.56% of the stake.
Prologis Inc. (PLD) concluded trading on 11/17/22 at a closing price of $112.31, with 3.37 million shares of worth about $378.35 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -6.19% during that period and on Thursday the price saw a loss of about -1.18%. Currently the company’s common shares owned by public are about 923.08M shares, out of which, 920.26M shares are available for trading.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 22 times over the past 12 months. They bought 113,254 shares in 16 of the transactions. In 6 selling transactions, insiders dumped 52,668 shares.
Vanguard Real Estate Index Fund, Vanguard Total Stock Market Index, and Stichting Pensioenfonds ABP are the top 3 mutual funds which are holding stakes in Prologis Inc. Vanguard Real Estate Index Fund is currently holding 42.0 million shares of worth totaling $4.65 billion. The company recently came selling -0.39 million shares which brought its stake up to 4.55% of the company’s outstanding shares. Vanguard Total Stock Market Index bought 0.22 million shares, after which its hold over company’s outstanding shares expand to 2.99%, leaving 27.57 million shares with the mutual fund that have a worth of about $3.05 billion. Stichting Pensioenfonds ABP, after selling 22.25 million shares, have now control over 2.41% of the stake in the company. It holds -0.77 million shares of worth $2.46 billion.
However, the stock later moved at a day high price of 113.50, or with a loss of -1.18%. Stock saw a price change of -5.10% in past 5 days and over the past one month there was a price change of 10.10%. Year-to-date (YTD), PLD shares are showing a performance of -33.29% which decreased to -25.32% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $98.03 but also hit the highest price of $174.54 during that period. The average intraday trading volume for Prologis Inc. shares is 4.49 million. The stock is currently trading 2.40% above its 20-day simple moving average (SMA20), while that difference is up 2.98% for SMA50 and it goes to -14.43% lower than SMA200.
BlackRock Fund Advisors acquired 58.3 million shares of Prologis Inc. having value of about $6.46 billion. Data submitted at the U.S SEC by BlackRock Fund Advisors revealed that the firm now holds 0.86 million shares in the company valued at close to $96297289.44, or have control over 1.49% stake in the company. Prologis Inc. (NYSE: PLD) currently have 923.08M outstanding shares and institutions hold larger chunk of about 78.90% of that. Holding of mutual funds in the company is about 40.74% while other institutional holders and individual stake holders have control over 56.94% and 0.46% of the stake respectively.
The stock has a current market capitalization of $105.64B and its 3Y-monthly beta is at 0.97. PE ratio of stock for trailing 12 months is 20.80, while it has posted earnings per share of $5.40 in the same period. It has a debt-to-equity ratio of 0.51. 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 2.84% while standing at 3.10% over the month.
Analysts are in expectations that Prologis Inc. (PLD) stock would likely to be making an EPS of $0.57 in the current quarter, while forecast for next quarter EPS is $0.61 and it is $3 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.49 which is $0.67 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 $1.67 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 96.40% while it is estimated to decrease by -16.17% in next year. EPS is likely to shrink at an annualized rate of -6.05% for next 5-years, compared to annual growth of 11.70% made by the stock over the past 5-years.
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 BofA Securities on October 24, 2022 offering a Buy rating for the stock and assigned a target price of $140 to it. Coverage by Scotiabank stated Prologis Inc. (PLD) stock as a Sector outperform in their note to investors on October 17, 2022, suggesting a price target of $116 for the stock. On October 17, 2022, Morgan Stanley Resumed their recommendations, while on October 13, 2022, Stifel Initiated their ratings for the stock with a price target of $128. Stock get a Buy rating from Citigroup on October 04, 2022.