LGT Capital Partners LTD. Lowers Holdings in Prologis, Inc. (NYSE:PLD)

LGT Capital Partners LTD. decreased its holdings in Prologis, Inc. (NYSE:PLD) by 37.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 26,580 shares of the real estate investment trust’s stock after selling 15,650 shares during the quarter. LGT Capital Partners LTD.’s holdings in Prologis were worth $2,810,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Principle Wealth Partners LLC boosted its stake in shares of Prologis by 2.9% in the fourth quarter. Principle Wealth Partners LLC now owns 3,302 shares of the real estate investment trust’s stock valued at $349,000 after purchasing an additional 92 shares during the period. Black Diamond Financial LLC boosted its stake in shares of Prologis by 2.2% in the fourth quarter. Black Diamond Financial LLC now owns 4,246 shares of the real estate investment trust’s stock valued at $449,000 after purchasing an additional 93 shares during the period. Carmel Capital Partners LLC boosted its stake in shares of Prologis by 2.6% in the third quarter. Carmel Capital Partners LLC now owns 3,749 shares of the real estate investment trust’s stock valued at $473,000 after purchasing an additional 94 shares during the period. Berkshire Bank boosted its stake in shares of Prologis by 2.3% in the fourth quarter. Berkshire Bank now owns 4,195 shares of the real estate investment trust’s stock valued at $443,000 after purchasing an additional 95 shares during the period. Finally, J.Safra Asset Management Corp boosted its stake in shares of Prologis by 22.3% in the fourth quarter. J.Safra Asset Management Corp now owns 559 shares of the real estate investment trust’s stock valued at $59,000 after purchasing an additional 102 shares during the period. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Raymond James reissued a “market perform” rating on shares of Prologis in a research note on Monday, February 3rd. Barclays lifted their price target on shares of Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. Robert W. Baird lifted their price target on shares of Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. BNP Paribas upgraded shares of Prologis to a “strong-buy” rating in a research note on Wednesday, January 22nd. Finally, Wolfe Research decreased their price target on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $128.78.

Insider Activity

In other news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total value of $1,305,783.78. Following the transaction, the executive now directly owns 7,977 shares of the company’s stock, valued at $947,188.98. The trade was a 57.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.50% of the company’s stock.

Prologis Stock Performance

Shares of Prologis stock opened at $119.89 on Friday. The firm’s fifty day simple moving average is $115.96 and its 200-day simple moving average is $117.97. The stock has a market capitalization of $111.12 billion, a price-to-earnings ratio of 29.97, a PEG ratio of 2.70 and a beta of 1.09. Prologis, Inc. has a 12 month low of $100.82 and a 12 month high of $135.76. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43.

Prologis Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be issued a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.37%. This is a boost from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date is Tuesday, March 18th. Prologis’s payout ratio is presently 101.00%.

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.