Lazard Freres Gestion S.A.S. Boosts Stock Position in Prologis, Inc. (NYSE:PLD)

Lazard Freres Gestion S.A.S. increased its stake in Prologis, Inc. (NYSE:PLD) by 20.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,440 shares of the real estate investment trust’s stock after purchasing an additional 940 shares during the quarter. Lazard Freres Gestion S.A.S.’s holdings in Prologis were worth $686,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PLD. Semmax Financial Advisors Inc. bought a new stake in shares of Prologis during the second quarter valued at about $27,000. American Capital Advisory LLC bought a new stake in Prologis during the 2nd quarter worth approximately $26,000. Central Valley Advisors LLC purchased a new stake in Prologis in the 2nd quarter worth approximately $29,000. Sunbelt Securities Inc. boosted its holdings in Prologis by 640.0% in the 2nd quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 224 shares during the period. Finally, Wetzel Investment Advisors Inc. purchased a new position in shares of Prologis during the 2nd quarter valued at $31,000. 93.50% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Scotiabank lowered their price objective on Prologis from $142.00 to $136.00 and set a “sector outperform” rating on the stock in a research report on Friday, October 25th. Evercore ISI raised their price target on Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Barclays boosted their price objective on Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a report on Monday, November 18th. JPMorgan Chase & Co. lowered their target price on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a research note on Monday, October 21st. Finally, Bank of America reiterated a “neutral” rating and set a $128.00 target price on shares of Prologis in a research report on Monday, August 12th. Eight research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Prologis presently has an average rating of “Moderate Buy” and a consensus target price of $131.25.

Prologis Stock Down 1.1 %

NYSE PLD traded down $1.32 during trading hours on Tuesday, reaching $116.75. 346,532 shares of the company’s stock traded hands, compared to its average volume of 3,645,682. The firm has a market cap of $108.13 billion, a PE ratio of 35.66, a PEG ratio of 3.05 and a beta of 1.08. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43. Prologis, Inc. has a 52-week low of $101.11 and a 52-week high of $137.52. The firm has a 50-day simple moving average of $119.53 and a 200 day simple moving average of $118.55.

Prologis (NYSE:PLD) last posted its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). Prologis had a net margin of 39.08% and a return on equity of 5.34%. The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same period last year, the business earned $1.30 EPS. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. Sell-side analysts anticipate that Prologis, Inc. will post 5.45 EPS for the current fiscal year.

Prologis Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a $0.96 dividend. The ex-dividend date was Monday, September 16th. This represents a $3.84 annualized dividend and a yield of 3.29%. Prologis’s dividend payout ratio (DPR) is presently 116.01%.

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.