Pictet Asset Management Holding SA Sells 48,262 Shares of Prologis, Inc. $PLD

Pictet Asset Management Holding SA lessened its stake in shares of Prologis, Inc. (NYSE:PLD) by 4.0% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,157,685 shares of the real estate investment trust’s stock after selling 48,262 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Prologis were worth $150,314,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Baird Financial Group Inc. grew its holdings in Prologis by 20.6% during the 2nd quarter. Baird Financial Group Inc. now owns 122,809 shares of the real estate investment trust’s stock valued at $16,637,000 after purchasing an additional 21,000 shares during the last quarter. Nykredit A S purchased a new stake in Prologis in the 2nd quarter worth about $40,490,000. Callan Family Office LLC purchased a new stake in Prologis in the 2nd quarter worth about $3,394,000. BlackRock Inc. bought a new stake in Prologis in the second quarter worth about $14,006,587,000. Finally, AssuredPartners Investment Advisors LLC bought a new stake in Prologis in the second quarter worth about $3,436,000. 93.50% of the stock is currently owned by institutional investors.

Prologis Stock Performance

Shares of PLD opened at $127.11 on Monday. Prologis, Inc. has a 12 month low of $121.40 and a 12 month high of $153.35. The stock has a fifty day moving average price of $131.60 and a 200-day moving average price of $137.71. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.61. The firm has a market cap of $120.82 billion, a PE ratio of 28.06, a P/E/G ratio of 1.44 and a beta of 1.27.

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th were given a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Wednesday, September 16th. Prologis’s dividend payout ratio is currently 94.48%.

Analysts Set New Price Targets

Several brokerages have issued reports on PLD. Williams Trading set a $150.00 target price on Prologis in a research report on Friday, October 16th. Raymond James Financial upgraded Prologis from a “market perform” rating to an “outperform” rating and set a $163.00 price target on the stock in a report on Wednesday, October 21st. Scotiabank raised Prologis from a “sector perform” rating to a “sector outperform” rating and set a $150.00 target price on the stock in a research report on Tuesday, October 13th. KeyCorp reiterated a “sector weight” rating on shares of Prologis in a report on Monday, October 19th. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Prologis in a research report on Friday, October 16th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $154.05.

Prologis Profile

Prologis is a global logistics real estate company that owns, develops and operates warehouses, distribution centers and other facilities used to store and move goods. Its properties support customers in industries including retail, manufacturing, transportation and e-commerce.

The company also provides property management and development services and invests in logistics real estate through investment management platforms. Its facilities are located in major markets across North America, Europe, Asia and Latin America.

Prologis traces its roots to 1983, when it was established as Security Capital Industrial Trust.