LGT Capital Partners LTD. Has $5.95 Million Stock Position in Prologis, Inc. (NYSE:PLD)

LGT Capital Partners LTD. trimmed its holdings in shares of Prologis, Inc. (NYSE:PLD) by 28.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 44,600 shares of the real estate investment trust’s stock after selling 17,350 shares during the period. LGT Capital Partners LTD.’s holdings in Prologis were worth $5,945,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PLD. Columbia Trust Co 01012016 lifted its holdings in shares of Prologis by 16.0% in the 4th quarter. Columbia Trust Co 01012016 now owns 5,240 shares of the real estate investment trust’s stock worth $698,000 after purchasing an additional 723 shares in the last quarter. Cyndeo Wealth Partners LLC boosted its stake in Prologis by 39.4% during the 4th quarter. Cyndeo Wealth Partners LLC now owns 42,005 shares of the real estate investment trust’s stock valued at $5,599,000 after purchasing an additional 11,882 shares during the last quarter. DNB Asset Management AS increased its holdings in Prologis by 17.1% during the 4th quarter. DNB Asset Management AS now owns 287,505 shares of the real estate investment trust’s stock worth $38,324,000 after purchasing an additional 42,073 shares in the last quarter. Grassi Investment Management raised its stake in shares of Prologis by 31.8% in the fourth quarter. Grassi Investment Management now owns 252,146 shares of the real estate investment trust’s stock worth $33,611,000 after purchasing an additional 60,900 shares during the last quarter. Finally, Selway Asset Management bought a new position in shares of Prologis in the third quarter valued at approximately $177,000. 93.50% of the stock is owned by institutional investors.

Prologis Trading Up 1.0 %

Shares of PLD opened at $130.18 on Friday. The business’s 50-day moving average price is $130.56 and its 200-day moving average price is $121.69. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.50. Prologis, Inc. has a twelve month low of $96.64 and a twelve month high of $137.52. The stock has a market cap of $120.42 billion, a PE ratio of 39.57, a P/E/G ratio of 2.58 and a beta of 1.00.

Prologis (NYSE:PLD) last issued its quarterly earnings data on Wednesday, January 17th. The real estate investment trust reported $0.68 EPS for the quarter, missing the consensus estimate of $1.26 by ($0.58). Prologis had a return on equity of 5.29% and a net margin of 38.13%. The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter last year, the company posted $1.24 earnings per share. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, equities analysts forecast that Prologis, Inc. will post 5.5 EPS for the current fiscal year.

Prologis Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Monday, March 18th will be issued a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date is Friday, March 15th. This is an increase from Prologis’s previous quarterly dividend of $0.87. Prologis’s dividend payout ratio (DPR) is presently 116.72%.

Wall Street Analysts Forecast Growth

PLD has been the topic of a number of recent analyst reports. Raymond James raised their price target on shares of Prologis from $130.00 to $145.00 and gave the company a “strong-buy” rating in a research report on Wednesday, January 24th. JPMorgan Chase & Co. raised Prologis from a “neutral” rating to an “overweight” rating and increased their price target for the company from $123.00 to $148.00 in a research report on Monday, December 18th. Mizuho boosted their price objective on Prologis from $125.00 to $130.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 10th. StockNews.com upgraded Prologis from a “sell” rating to a “hold” rating in a research note on Thursday, December 14th. Finally, Scotiabank boosted their price target on shares of Prologis from $134.00 to $143.00 and gave the stock a “sector outperform” rating in a report on Friday, December 15th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $141.67.

Prologis Company Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 31, 2023, 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.