Goldman Sachs Lowers Prologis Outlook Amid Shifting Fund Sentiment
Goldman Sachs Downgrade Details
Fintel reports that on October 21, 2024, Goldman Sachs downgraded their outlook for Prologis (WBAG:PRLD) from Buy to Neutral.
Current Fund Sentiment for Prologis
As of now, 2,555 funds or institutions are reporting positions in Prologis. This marks a decrease of 4 owners, or 0.16%, from the previous quarter. The average portfolio weight of all funds dedicated to PRLD has risen by 7.11% to 0.84%. Over the last three months, total shares owned by institutions increased by 3.86%, reaching 987,442K shares.
VGSIX – Vanguard Real Estate Index Fund Investor Shares holds 37,050K shares, representing 4.00% ownership of Prologis. Previously, the firm reported owning 37,733K shares, which reflects a decrease of 1.84%. Despite this reduction, the firm has increased its portfolio allocation in PRLD by 8.06% over the last quarter.
JPMorgan Chase holds 34,186K shares, representing 3.69% ownership. This is down from 36,257K shares reported earlier, showing a decrease of 6.06%. Notably, the firm cut its portfolio allocation in PRLD by a substantial 87.63% over the last quarter.
Cohen & Steers owns 33,947K shares, or 3.67% of Prologis. The firm has increased its holdings from 28,788K shares, which is an increase of 15.20%. Its portfolio allocation in PRLD rose by 1.86% in the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 29,267K shares, representing 3.16% ownership. In its previous filing, this fund owned 29,080K shares, an increase of 0.64%. However, it reduced its portfolio allocation in PRLD by 15.59% recently.
VFINX – Vanguard 500 Index Fund Investor Shares has 23,763K shares in Prologis, representing 2.57% ownership. This marks a slight increase from 23,284K shares reported earlier, or an increase of 2.01%. Nonetheless, the firm decreased its portfolio allocation in PRLD by 16.68% in the last quarter.
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This news article originally appeared on Fintel.
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