Prologis, Inc. (NYSE:PLD) Shares Sold by LGT Financial Advisors LLC

LGT Financial Advisors LLC reduced its holdings in shares of Prologis, Inc. (NYSE:PLD) by 33.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,070 shares of the real estate investment trust’s stock after selling 2,544 shares during the quarter. Prologis accounts for about 1.2% of LGT Financial Advisors LLC’s investment portfolio, making the stock its 20th largest holding. LGT Financial Advisors LLC’s holdings in Prologis were worth $569,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in PLD. Optimum Investment Advisors bought a new stake in Prologis in the first quarter valued at about $26,000. American Capital Advisory LLC bought a new position in shares of Prologis in the 2nd quarter worth about $26,000. True Wealth Design LLC acquired a new position in shares of Prologis in the 4th quarter valued at about $27,000. Central Valley Advisors LLC bought a new position in shares of Prologis during the second quarter valued at approximately $29,000. Finally, JFS Wealth Advisors LLC boosted its position in Prologis by 254.5% during the 4th quarter. JFS Wealth Advisors LLC now owns 234 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 168 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Insider Buying and Selling at Prologis

In related news, CIO Joseph Ghazal sold 5,200 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $129.07, for a total value of $671,164.00. Following the transaction, 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Mizuho cut their price objective on shares of Prologis from $130.00 to $120.00 and set a “neutral” rating on the stock in a research report on Friday, May 31st. The Goldman Sachs Group boosted their price target on Prologis from $140.00 to $156.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Royal Bank of Canada lowered Prologis from an “outperform” rating to a “sector perform” rating and raised their price target for the company from $124.00 to $127.00 in a report on Monday, August 5th. Morgan Stanley upped their target price on Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Finally, StockNews.com upgraded Prologis from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. Seven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Prologis has an average rating of “Moderate Buy” and an average target price of $133.12.

Prologis Trading Down 0.7 %

NYSE PLD opened at $127.41 on Friday. The company has a market capitalization of $117.96 billion, a PE ratio of 37.25, a price-to-earnings-growth ratio of 3.28 and a beta of 1.07. Prologis, Inc. has a 1-year low of $96.64 and a 1-year high of $137.52. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.52. The firm’s fifty day simple moving average is $122.37 and its 200-day simple moving average is $119.07.

Prologis (NYSE:PLD) last announced its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.41). The firm had revenue of $2.01 billion during 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 quarterly revenue was down 18.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.83 EPS. As a group, sell-side analysts anticipate that Prologis, Inc. will post 5.42 earnings per share for the current fiscal year.

Prologis Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date of this dividend is Monday, September 16th. Prologis’s dividend payout ratio is presently 112.28%.

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.