Prologis, Inc. (NYSE:PLD) Shares Sold by Highland Capital Management LLC

Highland Capital Management LLC lessened its stake in Prologis, Inc. (NYSE:PLDGet Rating) by 3.7% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,430 shares of the real estate investment trust’s stock after selling 673 shares during the period. Highland Capital Management LLC’s holdings in Prologis were worth $2,051,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. RB Capital Management LLC increased its position in Prologis by 18.3% in the 2nd quarter. RB Capital Management LLC now owns 3,555 shares of the real estate investment trust’s stock valued at $418,000 after acquiring an additional 551 shares during the period. Peak Financial Advisors LLC increased its position in Prologis by 27.5% during the 2nd quarter. Peak Financial Advisors LLC now owns 11,122 shares of the real estate investment trust’s stock worth $1,309,000 after purchasing an additional 2,399 shares during the period. Ferguson Wellman Capital Management Inc. increased its position in Prologis by 15.5% during the 2nd quarter. Ferguson Wellman Capital Management Inc. now owns 2,731 shares of the real estate investment trust’s stock worth $321,000 after purchasing an additional 367 shares during the period. Arkadios Wealth Advisors increased its position in Prologis by 18.1% during the 2nd quarter. Arkadios Wealth Advisors now owns 7,063 shares of the real estate investment trust’s stock worth $831,000 after purchasing an additional 1,080 shares during the period. Finally, LGT Capital Partners LTD. increased its position in Prologis by 20.9% during the 2nd quarter. LGT Capital Partners LTD. now owns 61,420 shares of the real estate investment trust’s stock worth $7,226,000 after purchasing an additional 10,605 shares during the period. Institutional investors and hedge funds own 94.01% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on PLD. Evercore ISI dropped their target price on Prologis from $134.00 to $133.00 and set an “in-line” rating on the stock in a research report on Monday. Barclays dropped their target price on Prologis from $190.00 to $183.00 and set an “overweight” rating on the stock in a research report on Thursday, July 21st. Wolfe Research raised Prologis from a “peer perform” rating to an “outperform” rating and set a $200.00 price target on the stock in a research note on Wednesday, August 24th. Wells Fargo & Company boosted their price target on Prologis from $160.00 to $163.00 and gave the stock an “overweight” rating in a research note on Thursday, August 11th. Finally, Jefferies Financial Group decreased their price target on Prologis from $174.00 to $146.00 and set a “buy” rating on the stock in a research note on Thursday, June 30th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $173.31.

Prologis Trading Down 0.0 %

Shares of PLD opened at $108.54 on Friday. The stock has a fifty day moving average of $126.98 and a two-hundred day moving average of $135.40. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.42 and a current ratio of 0.42. The company has a market capitalization of $80.36 billion, a PE ratio of 21.71, a price-to-earnings-growth ratio of 2.38 and a beta of 0.88. Prologis, Inc. has a fifty-two week low of $106.46 and a fifty-two week high of $174.54.

Prologis (NYSE:PLDGet Rating) last issued its quarterly earnings results on Monday, July 18th. The real estate investment trust reported $0.82 earnings per share for the quarter, missing the consensus estimate of $1.12 by ($0.30). The business had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.09 billion. Prologis had a net margin of 75.72% and a return on equity of 9.85%. The company’s revenue was up 8.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.01 earnings per share. As a group, analysts forecast that Prologis, Inc. will post 5.17 EPS for the current year.

Prologis Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Thursday, September 15th will be issued a dividend of $0.79 per share. The ex-dividend date is Wednesday, September 14th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.91%. Prologis’s payout ratio is 63.20%.

Prologis Company Profile

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Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of December 31, 2020, 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 984 million square feet (91 million square meters) in 19 countries.

See Also

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Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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