48,262 Prologis, Inc. $PLD Shares Sold by Pictet Asset Management Holding SA

Key Points

• Pictet Asset Management cut its Prologis stake by 4%. It sold 48,262 shares in the third quarter and ended the period holding 1,157,685 shares worth about $150.3 million.
• Analysts give Prologis a consensus “Moderate Buy” rating, with an average price target of $154.05; shares opened at $127.11.
• Prologis paid a quarterly dividend of $1.07 per share, equal to $4.28 annually and a 3.4% yield.

Pictet Asset Management Holding SA decreased its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 4.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,157,685 shares of the real estate investment trust's stock after selling 48,262 shares during the quarter. Pictet Asset Management Holding SA owned about 0.12% of Prologis worth $150,314,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Manning & Napier Advisors LLC purchased a new stake in Prologis in the 2nd quarter worth $25,000. Solstein Capital LLC bought a new position in shares of Prologis during the 2nd quarter valued at about $25,000. Clearstead Trust LLC bought a new position in shares of Prologis during the 2nd quarter valued at about $28,000. Johnson Financial Group Inc. bought a new position in shares of Prologis during the 2nd quarter valued at about $29,000. Finally, Kilter Group LLC purchased a new position in shares of Prologis during the second quarter valued at about $31,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Robert W. Baird reduced their target price on Prologis from $140.00 to $136.00 and set a "neutral" rating on the stock in a report on Tuesday, October 20th. Barclays boosted their target price on Prologis from $139.00 to $156.00 and gave the stock an "overweight" rating in a research report on Thursday, July 16th. Williams Trading set a $150.00 price target on Prologis in a research note on Friday, October 16th. Mizuho raised their price target on Prologis from $150.00 to $159.00 and gave the company an "outperform" rating in a report on Friday, July 17th. Finally, BTIG Research restated a "buy" rating and set a $170.00 price target on shares of Prologis in a report on Friday, October 16th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $154.05.

Prologis Stock Performance

Shares of NYSE:PLD opened at $127.11 on Monday. Prologis, Inc. has a 52 week low of $121.40 and a 52 week high of $153.35. The stock has a market capitalization of $120.82 billion, a P/E ratio of 28.06, a PEG ratio of 1.44 and a beta of 1.27. The firm has a fifty day simple moving average of $131.60 and a two-hundred day simple moving average of $137.71. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.61.

Prologis Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th were issued a $1.07 dividend. The ex-dividend date of this dividend was Wednesday, September 16th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 3.4%. Prologis's dividend payout ratio (DPR) is presently 94.48%.

Prologis Company Profile

Prologis is a global logistics real estate company that owns, develops and operates warehouses, distribution centers and other facilities used to store and move goods. Its properties support customers in industries including retail, manufacturing, transportation and e-commerce.

The company also provides property management and development services and invests in logistics real estate through investment management platforms. Its facilities are located in major markets across North America, Europe, Asia and Latin America.

Prologis traces its roots to 1983, when it was established as Security Capital Industrial Trust.

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