LGT Financial Advisors LLC Reduces Stock Holdings in Prologis, Inc. (NYSE:PLD)

LGT Financial Advisors LLC reduced its stake in shares of Prologis, Inc. (NYSE:PLD) by 58.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,123 shares of the real estate investment trust’s stock after selling 2,947 shares during the quarter. LGT Financial Advisors LLC’s holdings in Prologis were worth $268,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in PLD. Norden Group LLC boosted its position in Prologis by 15.3% during the 1st quarter. Norden Group LLC now owns 5,008 shares of the real estate investment trust’s stock valued at $652,000 after acquiring an additional 664 shares in the last quarter. Central Pacific Bank Trust Division purchased a new stake in Prologis in the first quarter worth $203,000. GSA Capital Partners LLP purchased a new stake in Prologis in the first quarter worth $1,172,000. Concord Investment Counsel Inc. bought a new position in Prologis in the first quarter worth $2,308,000. Finally, Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Prologis by 5.8% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 119,755 shares of the real estate investment trust’s stock valued at $15,594,000 after buying an additional 6,578 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors.

Prologis Stock Performance

PLD opened at $113.74 on Thursday. The company’s 50 day moving average is $123.15 and its 200 day moving average is $117.52. 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 company has a market cap of $105.34 billion, a price-to-earnings ratio of 34.36, a PEG ratio of 2.97 and a beta of 1.08. Prologis, Inc. has a 12-month low of $101.11 and a 12-month high of $137.52.

Prologis (NYSE:PLD) last issued its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.29). The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.91 billion. Prologis had a return on equity of 5.34% and a net margin of 39.08%. The company’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.30 EPS. On average, equities research analysts predict that Prologis, Inc. will post 5.45 EPS for the current year.

Prologis Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a dividend of $0.96 per share. The ex-dividend date was Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.38%. Prologis’s payout ratio is currently 116.01%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on PLD shares. Royal Bank of Canada lowered shares of Prologis from an “outperform” rating to a “sector perform” rating and increased their price target for the stock from $124.00 to $127.00 in a research note on Monday, August 5th. Truist Financial boosted their price target on Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Scotiabank reduced their price objective on Prologis from $142.00 to $136.00 and set a “sector outperform” rating for the company in a research report on Friday, October 25th. The Goldman Sachs Group reissued a “neutral” rating and issued a $132.00 target price (down from $142.00) on shares of Prologis in a report on Monday, October 21st. Finally, Barclays cut their price target on shares of Prologis from $142.00 to $131.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. Eight equities research 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 company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $131.12.

Insider Activity at Prologis

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the firm’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 approximately $1,702,046.09. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.50% of the stock is currently owned by corporate 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.