LGT Group Foundation Has $70.99 Million Stake in Prologis, Inc. $PLD

LGT Group Foundation reduced its stake in Prologis, Inc. (NYSE:PLD) by 7.3% in the third quarter, now owning 609,425 shares valued at $70.99 million. Other institutional investors also adjusted their positions in the real estate investment trust, with 93.50% of the stock owned by institutions and hedge funds. Prologis recently reported strong Q1 earnings, hitting analyst estimates, increased its quarterly dividend, and analysts have a “Moderate Buy” consensus rating with a target price of $137.20.