Prologis, Inc. (NYSE:PLD) is Lasalle Investment Management Securities LLC's 3rd Largest Position

Lasalle Investment Management Securities LLC cut its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 7.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,319,847 shares of the real estate investment trust's stock after selling 99,445 shares during the quarter. Prologis makes up about 5.9% of Lasalle Investment Management Securities LLC's holdings, making the stock its 3rd biggest holding. Lasalle Investment Management Securities LLC owned 0.14% of Prologis worth $139,508,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Pine Valley Investments Ltd Liability Co grew its stake in shares of Prologis by 14.1% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 18,163 shares of the real estate investment trust's stock worth $2,294,000 after acquiring an additional 2,245 shares during the last quarter. World Investment Advisors LLC bought a new position in Prologis in the 3rd quarter worth about $989,000. Wilmington Savings Fund Society FSB purchased a new stake in Prologis during the 3rd quarter valued at about $1,348,000. Destination Wealth Management increased its stake in Prologis by 121.5% during the 3rd quarter. Destination Wealth Management now owns 4,504 shares of the real estate investment trust's stock valued at $569,000 after purchasing an additional 2,471 shares in the last quarter. Finally, Tidal Investments LLC increased its stake in Prologis by 12.7% during the 3rd quarter. Tidal Investments LLC now owns 200,250 shares of the real estate investment trust's stock valued at $25,288,000 after purchasing an additional 22,516 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PLD has been the topic of a number of recent analyst reports. BTIG Research cut their price target on shares of Prologis from $154.00 to $134.00 and set a "buy" rating on the stock in a report on Friday, January 17th. Wolfe Research downgraded Prologis from an "outperform" rating to a "peer perform" rating in a research note on Monday. Evercore ISI decreased their price target on Prologis from $111.00 to $106.00 and set an "in-line" rating for the company in a research note on Thursday, April 17th. Truist Financial increased their price objective on Prologis from $121.00 to $123.00 and gave the company a "buy" rating in a research report on Monday, January 27th. Finally, Raymond James reissued a "market perform" rating on shares of Prologis in a research report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $123.32.

Prologis Stock Performance

NYSE:PLD traded up $1.60 during mid-day trading on Wednesday, hitting $101.55. 6,910,066 shares of the company traded hands, compared to its average volume of 4,152,871. The stock's fifty day moving average price is $110.59 and its 200-day moving average price is $112.87. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. Prologis, Inc. has a one year low of $85.35 and a one year high of $132.57. The firm has a market cap of $94.13 billion, a price-to-earnings ratio of 25.39, a price-to-earnings-growth ratio of 2.70 and a beta of 1.20.

Prologis (NYSE:PLD - Get Free Report) last released its earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 EPS for the quarter, topping analysts' consensus estimates of $1.38 by $0.04. The company had revenue of $1.99 billion for the quarter, compared to analysts' expectations of $1.99 billion. Prologis had a net margin of 45.50% and a return on equity of 6.44%. Research analysts anticipate that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th were paid a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date of this dividend was Tuesday, March 18th. This is a positive change from Prologis's previous quarterly dividend of $0.96. Prologis's dividend payout ratio is presently 101.00%.

Insider Buying and Selling at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of the stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the completion of the sale, the executive now owns 7,977 shares in the company, valued at approximately $947,188.98. This trade represents a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.57% of the company's stock.

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.