LGT Financial Advisors LLC Sells 2,544 Shares of Prologis, Inc. (NYSE:PLD)

LGT Financial Advisors LLC lowered its stake in shares of Prologis, Inc. (NYSE:PLD) by 33.4% in the second quarter, Holdings Channel reports. The institutional investor owned 5,070 shares of the real estate investment trust’s stock after selling 2,544 shares during the period. Prologis accounts for approximately 1.2% of LGT Financial Advisors LLC’s holdings, making the stock its 20th biggest position. LGT Financial Advisors LLC’s holdings in Prologis were worth $569,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. True Wealth Design LLC bought a new stake in Prologis in the fourth quarter valued at $27,000. Optimum Investment Advisors acquired a new position in Prologis in the first quarter valued at about $26,000. JFS Wealth Advisors LLC grew its stake in Prologis by 254.5% during the fourth quarter. JFS Wealth Advisors LLC now owns 234 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 168 shares during the last quarter. American Capital Advisory LLC bought a new position in shares of Prologis in the second quarter valued at approximately $26,000. Finally, Clear Investment Research LLC boosted its holdings in shares of Prologis by 188.1% in the 4th quarter. Clear Investment Research LLC now owns 242 shares of the real estate investment trust’s stock worth $32,000 after acquiring an additional 158 shares in the last quarter. Institutional investors own 93.50% of the company’s stock.

Prologis Price Performance

NYSE PLD opened at $127.41 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.36 and a current ratio of 0.36. The stock has a market cap of $117.96 billion, a price-to-earnings ratio of 37.25, a PEG ratio of 3.28 and a beta of 1.07. The business has a 50 day simple moving average of $122.37 and a 200 day simple moving average of $119.07. Prologis, Inc. has a 52-week low of $96.64 and a 52-week high of $137.52.

Prologis (NYSE:PLD) last issued its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.41). The company had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.86 billion. Prologis had a return on equity of 4.88% and a net margin of 36.37%. The firm’s revenue was down 18.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.83 EPS. Analysts anticipate that Prologis, Inc. will post 5.42 earnings per share for the current fiscal year.

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a dividend of $0.96 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $3.84 annualized dividend and a dividend yield of 3.01%. Prologis’s dividend payout ratio is currently 112.28%.

Analyst Ratings Changes

PLD has been the topic of several research analyst reports. Scotiabank increased their target price on Prologis from $135.00 to $142.00 and gave the stock a “sector outperform” rating in a report on Monday, August 26th. The Goldman Sachs Group increased their price target on shares of Prologis from $140.00 to $156.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. BMO Capital Markets reiterated a “market perform” rating and issued a $115.00 price objective on shares of Prologis in a research report on Monday, July 15th. Royal Bank of Canada cut Prologis from an “outperform” rating to a “sector perform” rating and lifted their target price for the company from $124.00 to $127.00 in a research note on Monday, August 5th. Finally, Barclays raised their price target on Prologis from $123.00 to $142.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Seven research 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.com, the company currently has an average rating of “Moderate Buy” and an average price target of $133.12.

Insider Buying and Selling

In other news, CIO Joseph Ghazal sold 5,200 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $129.07, for a total transaction of $671,164.00. Following the completion of 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 is available through this hyperlink. 0.50% of the stock is owned by corporate insiders.

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.