Lazard Freres Gestion S.A.S. Grows Position in Prologis, Inc. (NYSE:PLD)

Lazard Freres Gestion S.A.S. increased its holdings in Prologis, Inc. (NYSE:PLD) by 20.9% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 5,440 shares of the real estate investment trust’s stock after purchasing an additional 940 shares during the period. Lazard Freres Gestion S.A.S.’s holdings in Prologis were worth $686,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Swedbank AB raised its holdings in shares of Prologis by 9.2% during the second quarter. Swedbank AB now owns 5,002,274 shares of the real estate investment trust’s stock valued at $561,805,000 after purchasing an additional 420,687 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its stake in Prologis by 36.1% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 162,990 shares of the real estate investment trust’s stock valued at $18,305,000 after buying an additional 43,235 shares during the last quarter. Sunflower Bank N.A. purchased a new stake in Prologis during the 3rd quarter valued at $249,000. Cetera Advisors LLC lifted its holdings in shares of Prologis by 118.7% during the 1st quarter. Cetera Advisors LLC now owns 37,992 shares of the real estate investment trust’s stock valued at $4,947,000 after buying an additional 20,623 shares during the period. Finally, Abundance Wealth Counselors purchased a new position in shares of Prologis in the 2nd quarter worth $973,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Trading Down 1.1 %

Shares of NYSE PLD traded down $1.32 during trading hours on Tuesday, hitting $116.75. 346,532 shares of the company traded hands, compared to its average volume of 3,645,682. The stock has a market capitalization of $108.13 billion, a price-to-earnings ratio of 35.66, a price-to-earnings-growth ratio of 3.05 and a beta of 1.08. The company’s 50 day moving average price is $119.53 and its 200 day moving average price is $118.55. Prologis, Inc. has a 12 month low of $101.11 and a 12 month high of $137.52. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56.

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

Prologis Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a dividend of $0.96 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.84 annualized dividend and a dividend yield of 3.29%. Prologis’s dividend payout ratio (DPR) is presently 116.01%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PLD. Morgan Stanley increased their price objective on shares of Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. The Goldman Sachs Group reiterated a “neutral” rating and set a $132.00 price target (down previously from $142.00) on shares of Prologis in a research note on Monday, October 21st. Bank of America reissued a “neutral” rating and set a $128.00 price objective on shares of Prologis in a research report on Monday, August 12th. Wells Fargo & Company lifted their target price on Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a research report on Wednesday, August 28th. Finally, Evercore ISI upped their price target on Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Eight investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $131.25.

About Prologis

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.