LGT Fund Management Co Ltd. Acquires 13,810 Shares of Prologis, Inc. (NYSE:PLD)

LGT Fund Management Co Ltd. lifted its holdings in Prologis, Inc. (NYSE:PLD) by 96.2% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 28,160 shares of the real estate investment trust’s stock after acquiring an additional 13,810 shares during the quarter. LGT Fund Management Co Ltd.’s holdings in Prologis were worth $3,163,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in PLD. True Wealth Design LLC bought a new stake in Prologis in the fourth quarter valued at $27,000. Optimum Investment Advisors bought a new stake in shares of Prologis during the 1st quarter valued at about $26,000. American Capital Advisory LLC purchased a new position in shares of Prologis during the second quarter valued at about $26,000. Clear Investment Research LLC raised its stake in Prologis by 188.1% in the fourth quarter. Clear Investment Research LLC now owns 242 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 158 shares in the last quarter. Finally, Central Valley Advisors LLC purchased a new position in shares of Prologis in the 2nd quarter valued at approximately $29,000. Institutional investors own 93.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Morgan Stanley upped their price target on Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. Scotiabank upped their price target on shares of Prologis from $135.00 to $142.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 26th. Evercore ISI raised their price objective on shares of Prologis from $122.00 to $124.00 and gave the company an “in-line” rating in a research note on Wednesday, August 28th. Wells Fargo & Company upped their target price on shares of Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 28th. Finally, BMO Capital Markets reiterated a “market perform” rating and set a $115.00 price target on shares of Prologis in a report on Monday, July 15th. Seven 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 company’s stock. Based on data from MarketBeat, Prologis currently has a consensus rating of “Moderate Buy” and a consensus target price of $133.12.

Prologis Price Performance

NYSE PLD opened at $130.24 on Tuesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.36 and a current ratio of 0.36. The business’s fifty day moving average is $123.03 and its 200 day moving average is $118.81. The company has a market capitalization of $120.58 billion, a PE ratio of 38.08, a price-to-earnings-growth ratio of 3.27 and a beta of 1.07. Prologis, Inc. has a fifty-two week low of $96.64 and a fifty-two week high of $137.52.

Prologis (NYSE:PLD) last announced its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.41). The company had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.86 billion. Prologis had a net margin of 36.37% and a return on equity of 4.88%. The company’s revenue was down 18.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.83 earnings per share. Sell-side analysts predict that Prologis, Inc. will post 5.42 earnings per share for the current year.

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 2.95%. The ex-dividend date of this dividend is Monday, September 16th. Prologis’s dividend payout ratio is currently 112.28%.

Insider Activity at Prologis

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the 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 completion of the sale, the executive now directly owns 13,187 shares of the company’s stock, valued at approximately $1,702,046.09. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.50% of the stock is owned by corporate insiders.

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.