LGT Capital Partners LTD. Has $5.33 Million Stock Holdings in Prologis, Inc. (NYSE:PLD)

LGT Capital Partners LTD. lowered its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 18.9% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 42,230 shares of the real estate investment trust's stock after selling 9,810 shares during the quarter. LGT Capital Partners LTD.'s holdings in Prologis were worth $5,333,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. O Shaughnessy Asset Management LLC increased its position in Prologis by 36.4% in the first quarter. O Shaughnessy Asset Management LLC now owns 72,817 shares of the real estate investment trust's stock worth $9,482,000 after purchasing an additional 19,450 shares during the last quarter. Lake Street Advisors Group LLC boosted its holdings in shares of Prologis by 23.5% in the 1st quarter. Lake Street Advisors Group LLC now owns 8,944 shares of the real estate investment trust's stock worth $1,165,000 after purchasing an additional 1,700 shares during the period. Pitcairn Co. raised its holdings in Prologis by 29.2% during the 1st quarter. Pitcairn Co. now owns 11,660 shares of the real estate investment trust's stock valued at $1,518,000 after buying an additional 2,632 shares during the period. Natixis Investment Managers International lifted its position in shares of Prologis by 44.6% during the first quarter. Natixis Investment Managers International now owns 214,905 shares of the real estate investment trust's stock worth $27,985,000 after purchasing an additional 66,250 shares during the last quarter. Finally, Castle Hook Partners LP purchased a new position in Prologis during the 1st quarter valued at about $56,863,000. 93.50% of the stock is currently owned by institutional investors.

Prologis Stock Up 0.4 %

PLD stock traded up $0.42 during midday trading on Tuesday, hitting $115.07. 1,793,822 shares of the company's stock were exchanged, compared to its average volume of 3,640,891. The stock has a market capitalization of $106.57 billion, a price-to-earnings ratio of 34.76, a price-to-earnings-growth ratio of 2.98 and a beta of 1.08. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56. The firm has a 50 day moving average price of $121.03 and a 200-day moving average price of $118.23. Prologis, Inc. has a 12-month low of $101.11 and a 12-month high of $137.52.

Prologis (NYSE:PLD - Get Free Report) last announced its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share for the quarter, missing analysts' consensus estimates of $1.37 by ($0.29). The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. Prologis had a return on equity of 5.34% and a net margin of 39.08%. The firm's revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.30 earnings per share. On average, analysts anticipate that Prologis, Inc. will post 5.45 EPS for the current year.

Prologis Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were paid a dividend of $0.96 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.84 annualized dividend and a yield of 3.34%. Prologis's dividend payout ratio is currently 116.01%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Evercore ISI raised their price target on Prologis from $124.00 to $128.00 and gave the stock an "in-line" rating in a report on Monday, September 16th. Bank of America reiterated a "neutral" rating and issued a $128.00 target price on shares of Prologis in a research report on Monday, August 12th. Barclays upped their price target on shares of Prologis from $131.00 to $132.00 and gave the company an "overweight" rating in a report on Monday. Royal Bank of Canada lowered Prologis from an "outperform" rating to a "sector perform" rating and raised their target price for the stock from $124.00 to $127.00 in a report on Monday, August 5th. Finally, Scotiabank lowered their price objective on Prologis from $142.00 to $136.00 and set a "sector outperform" rating on the stock in a research report on Friday, October 25th. Eight analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Prologis currently has a consensus rating of "Moderate Buy" and an average price target of $131.18.

Insiders Place Their Bets

In other news, CIO Joseph Ghazal sold 5,200 shares of the business's stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $129.07, for a total transaction of $671,164.00. Following the sale, the executive now owns 13,187 shares in the company, valued at $1,702,046.09. The trade was a 28.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.56% of the stock is owned by company insiders.

Prologis Company 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.