Prologis, Inc. (NYSE:PLD) Shares Sold by LGT Capital Partners LTD.

LGT Capital Partners LTD. trimmed its holdings in shares of Prologis, Inc. (NYSE:PLD) by 18.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 SEC filing.

Several other large investors have also made changes to their positions in PLD. American Capital Advisory LLC acquired a new position in shares of Prologis during the 2nd quarter worth approximately $26,000. Semmax Financial Advisors Inc. purchased a new stake in shares of Prologis during the second quarter worth approximately $27,000. Central Valley Advisors LLC purchased a new stake in shares of Prologis during the second quarter worth approximately $29,000. Sunbelt Securities Inc. grew its holdings in Prologis by 640.0% in the 2nd quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 224 shares in the last quarter. Finally, Wetzel Investment Advisors Inc. purchased a new stake in Prologis in the 2nd quarter valued at $31,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Prologis

In related news, CIO Joseph Ghazal sold 5,200 shares of Prologis stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $129.07, for a total transaction of $671,164.00. Following the completion of the transaction, the executive now directly owns 13,187 shares of the company’s stock, valued at approximately $1,702,046.09. The trade was a 28.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.56% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on PLD shares. Evercore ISI upped their target price on Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a report on Monday, September 16th. JPMorgan Chase & Co. dropped their target price on Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a report on Monday, October 21st. Royal Bank of Canada cut Prologis from an “outperform” rating to a “sector perform” rating and upped their target price for the company from $124.00 to $127.00 in a report on Monday, August 5th. Wells Fargo & Company increased their price target on Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a report on Wednesday, August 28th. Finally, Morgan Stanley increased their price target on Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Eight equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $131.18.

Prologis Price Performance

PLD stock opened at $114.65 on Tuesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43. The firm has a market capitalization of $106.19 billion, a P/E ratio of 34.64, a P/E/G ratio of 2.98 and a beta of 1.08. The business’s 50-day moving average is $121.03 and its two-hundred day moving average is $118.23. Prologis, Inc. has a 1 year low of $101.11 and a 1 year high of $137.52.

Prologis (NYSE:PLD) last released its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). Prologis had a net margin of 39.08% and a return on equity of 5.34%. The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. During the same quarter in the previous year, the company posted $1.30 EPS. The company’s revenue was up 6.9% compared to the same quarter last year. Analysts anticipate that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a $0.96 dividend. The ex-dividend date was Monday, September 16th. This represents a $3.84 annualized dividend and a dividend yield of 3.35%. Prologis’s dividend payout ratio (DPR) is currently 116.01%.

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.