LGT Fund Management Co Ltd. Raises Position in Prologis, Inc. $PLD

Key Points

• LGT Fund Management Co Ltd. increased its stake in Prologis, Inc. by 48.7% during the second quarter, owning 24,852 shares worth approximately $2.6 million after acquiring an additional 8,143 shares.
• Wall Street analysts have mixed expectations for Prologis, with an average price target of $122.58 and ratings varying from Strong Buy to Hold.
• Prologis recently declared a quarterly dividend of $1.01 per share, resulting in a yield of 3.5%, though the payout ratio stands at an elevated 109.49%.

LGT Fund Management Co Ltd. lifted its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 48.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,852 shares of the real estate investment trust's stock after buying an additional 8,143 shares during the period. LGT Fund Management Co Ltd.'s holdings in Prologis were worth $2,612,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Michael S. Ryan Inc. grew its holdings in Prologis by 2.9% in the 2nd quarter. Michael S. Ryan Inc. now owns 3,311 shares of the real estate investment trust's stock worth $348,000 after buying an additional 94 shares in the last quarter. LaSalle St. Investment Advisors LLC grew its holdings in Prologis by 3.7% in the 1st quarter. LaSalle St. Investment Advisors LLC now owns 2,688 shares of the real estate investment trust's stock worth $300,000 after buying an additional 96 shares in the last quarter. Van Hulzen Asset Management LLC grew its holdings in Prologis by 5.6% in the 1st quarter. Van Hulzen Asset Management LLC now owns 1,799 shares of the real estate investment trust's stock worth $201,000 after buying an additional 96 shares in the last quarter. Sandler Capital Management grew its holdings in Prologis by 5.3% in the 1st quarter. Sandler Capital Management now owns 2,000 shares of the real estate investment trust's stock worth $224,000 after buying an additional 100 shares in the last quarter. Finally, Sunflower Bank N.A. grew its holdings in Prologis by 3.9% in the 2nd quarter. Sunflower Bank N.A. now owns 2,697 shares of the real estate investment trust's stock worth $284,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PLD. Barclays decreased their price objective on Prologis from $119.00 to $118.00 and set an "overweight" rating for the company in a report on Monday, September 15th. Mizuho set a $118.00 price target on Prologis and gave the company an "outperform" rating in a research note on Tuesday, August 19th. Citigroup decreased their price target on Prologis from $150.00 to $140.00 and set a "buy" rating for the company in a research note on Wednesday, July 23rd. Evercore ISI increased their price target on Prologis from $111.00 to $113.00 and gave the company an "in-line" rating in a research note on Monday, September 15th. Finally, UBS Group increased their price target on Prologis from $106.00 to $120.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $122.58.

Insiders Place Their Bets

In other news, CAO Lori A. Palazzolo sold 25,000 shares of the stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $111.33, for a total value of $2,783,250.00. Following the completion of the sale, the chief accounting officer owned 414 shares in the company, valued at $46,090.62. This represents a 98.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Cristina Gabriela Bita sold 500 shares of the stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $115.69, for a total value of $57,845.00. Following the completion of the sale, the director owned 9,329 shares of the company's stock, valued at $1,079,272.01. The trade was a 5.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,500 shares of company stock valued at $2,952,095 in the last quarter. Insiders own 0.57% of the company's stock.

Prologis Price Performance

Shares of NYSE:PLD opened at $117.09 on Friday. Prologis, Inc. has a one year low of $85.35 and a one year high of $127.65. The stock has a fifty day moving average of $111.03 and a 200-day moving average of $107.63. The company has a market capitalization of $108.69 billion, a PE ratio of 31.73, a price-to-earnings-growth ratio of 2.93 and a beta of 1.28. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.65 and a current ratio of 0.65.

Prologis (NYSE:PLD - Get Free Report) last announced its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $1.46 EPS for the quarter, beating analysts' consensus estimates of $1.41 by $0.05. Prologis had a return on equity of 5.96% and a net margin of 40.29%.The company had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the prior year, the firm earned $1.34 EPS. The company's quarterly revenue was up 8.8% compared to the same quarter last year. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. As a group, equities analysts anticipate that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were given a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date was Tuesday, September 16th. Prologis's dividend payout ratio is 109.49%.

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.

Want to see what other hedge funds are holding PLD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Prologis, Inc. (NYSE:PLD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.