Lombard Odier Asset Management Europe Ltd Sells 1,094 Shares of Prologis, Inc. (NYSE:PLD)

Lombard Odier Asset Management Europe Ltd lowered its stake in Prologis, Inc. (NYSE:PLD) by 3.9% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 27,202 shares of the real estate investment trust’s stock after selling 1,094 shares during the period. Lombard Odier Asset Management Europe Ltd’s holdings in Prologis were worth $3,055,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Gilbert & Cook Inc. boosted its holdings in Prologis by 4.4% in the 4th quarter. Gilbert & Cook Inc. now owns 5,487 shares of the real estate investment trust’s stock valued at $731,000 after purchasing an additional 233 shares during the period. Gryphon Financial Partners LLC increased its position in Prologis by 61.6% during the 4th quarter. Gryphon Financial Partners LLC now owns 5,234 shares of the real estate investment trust’s stock valued at $692,000 after purchasing an additional 1,995 shares during the period. TrinityPoint Wealth LLC grew its stake in Prologis by 18.0% during the fourth quarter. TrinityPoint Wealth LLC now owns 2,228 shares of the real estate investment trust’s stock worth $297,000 after purchasing an additional 340 shares during the period. Intech Investment Management LLC grew its position in shares of Prologis by 68.6% during the 4th quarter. Intech Investment Management LLC now owns 11,041 shares of the real estate investment trust’s stock worth $1,472,000 after buying an additional 4,491 shares during the period. Finally, Hilltop Holdings Inc. boosted its stake in Prologis by 1.3% during the fourth quarter. Hilltop Holdings Inc. now owns 9,004 shares of the real estate investment trust’s stock worth $1,200,000 after acquiring an additional 113 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Insider Activity at Prologis

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $129.07, for a total value of $671,164.00. Following the completion of the transaction, the executive now owns 13,187 shares of the company’s stock, valued at $1,702,046.09. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have issued reports on PLD shares. BMO Capital Markets reiterated a “market perform” rating and issued a $115.00 price target on shares of Prologis in a report on Monday, July 15th. Scotiabank boosted their target price on Prologis from $135.00 to $142.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 26th. Barclays raised their price objective on shares of Prologis from $123.00 to $142.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Bank of America reiterated a “neutral” rating and issued a $128.00 price objective on shares of Prologis in a research note on Monday, August 12th. Finally, Truist Financial upped their price target on Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Seven analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $133.35.

Prologis Stock Up 0.9 %

Shares of NYSE:PLD opened at $126.63 on Tuesday. The company has a 50-day moving average price of $125.59 and a 200 day moving average price of $118.50. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.52. Prologis, Inc. has a 12 month low of $96.64 and a 12 month high of $137.52. The company has a market cap of $117.24 billion, a price-to-earnings ratio of 37.03, a PEG ratio of 3.36 and a beta of 1.07.

Prologis (NYSE:PLD) last released 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). Prologis had a net margin of 36.37% and a return on equity of 4.88%. The company had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same period last year, the firm earned $1.83 earnings per share. Prologis’s quarterly revenue was down 18.1% on a year-over-year basis. As a group, equities research analysts predict that Prologis, Inc. will post 5.42 earnings per share for the current year.

Prologis Dividend Announcement

The firm also recently declared 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. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date of this dividend is Monday, September 16th. Prologis’s payout ratio is presently 112.28%.

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.