LGT Fund Management Co Ltd. Lowers Stock Holdings in Prologis, Inc. (NYSE:PLD)

LGT Fund Management Co Ltd. cut its stake in shares of Prologis, Inc. (NYSE:PLD) by 34.9% in the 1st quarter, Holdings Channel reports. The institutional investor owned 16,709 shares of the real estate investment trust’s stock after selling 8,941 shares during the quarter. LGT Fund Management Co Ltd.’s holdings in Prologis were worth $1,868,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. REAP Financial Group LLC grew its stake in shares of Prologis by 40.0% during the 4th quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 84 shares during the period. Pandora Wealth Inc. purchased a new stake in Prologis during the 1st quarter worth $34,000. Olde Wealth Management LLC purchased a new stake in Prologis during the 1st quarter worth $43,000. Cornerstone Planning Group LLC boosted its position in Prologis by 63.6% during the 1st quarter. Cornerstone Planning Group LLC now owns 391 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 152 shares during the period. Finally, Missouri Trust & Investment Co boosted its position in Prologis by 59.6% during the 1st quarter. Missouri Trust & Investment Co now owns 399 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 149 shares during the period. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Price Performance

NYSE PLD opened at $104.18 on Tuesday. Prologis, Inc. has a 52 week low of $85.35 and a 52 week high of $132.57. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.61. The stock has a market cap of $96.68 billion, a price-to-earnings ratio of 28.23, a price-to-earnings-growth ratio of 2.65 and a beta of 1.21. The company has a 50-day moving average price of $107.34 and a two-hundred day moving average price of $109.42.

Prologis (NYSE:PLD) last posted its earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 EPS for the quarter, topping the consensus estimate of $1.41 by $0.05. Prologis had a net margin of 40.29% and a return on equity of 5.96%. The firm had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter in the prior year, the firm earned $1.34 EPS. Prologis’s quarterly revenue was up 8.8% on a year-over-year basis. Analysts forecast that Prologis, Inc. will post 5.73 EPS for the current year.

Wall Street Analysts Forecast Growth

PLD has been the topic of a number of recent analyst reports. Wolfe Research lowered shares of Prologis from an “outperform” rating to a “peer perform” rating in a report on Monday, April 21st. Robert W. Baird cut their price objective on shares of Prologis from $126.00 to $120.00 and set an “outperform” rating on the stock in a report on Wednesday, May 7th. Scotiabank boosted their price objective on shares of Prologis from $97.00 to $100.00 and gave the stock a “sector underperform” rating in a report on Monday, May 12th. Wall Street Zen lowered shares of Prologis from a “hold” rating to a “sell” rating in a research note on Saturday, June 14th. Finally, UBS Group upped their target price on shares of 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 sell rating, seven have given a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Prologis currently has a consensus rating of “Moderate Buy” and an average target price of $120.74.

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.