LGT Capital Partners LTD. Cuts Stake in Prologis, Inc. (NYSE:PLD)

LGT Capital Partners LTD. decreased its stake in shares of Prologis, Inc. (NYSE:PLD) by 28.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 44,600 shares of the real estate investment trust’s stock after selling 17,350 shares during the quarter. LGT Capital Partners LTD.’s holdings in Prologis were worth $5,945,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of PLD. Norges Bank purchased a new stake in Prologis during the fourth quarter valued at about $980,759,000. Morgan Stanley increased its position in shares of Prologis by 48.0% in the fourth quarter. Morgan Stanley now owns 14,577,827 shares of the real estate investment trust’s stock worth $1,643,359,000 after acquiring an additional 4,729,040 shares in the last quarter. Moneta Group Investment Advisors LLC purchased a new stake in Prologis during the 4th quarter worth $232,205,000. Legal & General Group Plc raised its position in Prologis by 22.4% in the fourth quarter. Legal & General Group Plc now owns 11,130,145 shares of the real estate investment trust’s stock valued at $1,254,702,000 after purchasing an additional 2,038,187 shares during the period. Finally, BlackRock Inc. lifted its stake in shares of Prologis by 2.0% during the second quarter. BlackRock Inc. now owns 92,924,760 shares of the real estate investment trust’s stock worth $11,395,363,000 after purchasing an additional 1,783,742 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Stock Up 1.0 %

PLD opened at $130.18 on Friday. Prologis, Inc. has a 12 month low of $96.64 and a 12 month high of $137.52. The stock has a market cap of $120.42 billion, a P/E ratio of 39.57, a P/E/G ratio of 2.58 and a beta of 1.00. The stock’s 50 day moving average price is $130.56 and its 200 day moving average price is $121.69. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.30 and a quick ratio of 0.30.

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

Prologis Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Monday, March 18th will be paid a dividend of $0.96 per share. The ex-dividend date of this dividend is Friday, March 15th. This is a positive change from Prologis’s previous quarterly dividend of $0.87. This represents a $3.84 annualized dividend and a yield of 2.95%. Prologis’s dividend payout ratio is currently 116.72%.

Analyst Upgrades and Downgrades

PLD has been the topic of several analyst reports. Scotiabank raised their target price on Prologis from $134.00 to $143.00 and gave the company a “sector outperform” rating in a report on Friday, December 15th. Royal Bank of Canada boosted their price objective on shares of Prologis from $128.00 to $145.00 and gave the stock an “outperform” rating in a report on Friday, February 16th. TheStreet upgraded Prologis from a “c+” rating to a “b-” rating in a research note on Friday, January 26th. Evercore ISI reissued an “in-line” rating and set a $136.00 price objective on shares of Prologis in a report on Monday, March 18th. Finally, Robert W. Baird boosted their price objective on Prologis from $133.00 to $137.00 and gave the company a “neutral” rating in a report on Tuesday, January 23rd. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Prologis has a consensus rating of “Moderate Buy” and a consensus price target of $141.67.

Prologis 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.