Highland Capital Management LLC Has $2.03 Million Position in Prologis, Inc. (NYSE:PLD)

Highland Capital Management LLC trimmed its holdings in Prologis, Inc. (NYSE:PLD) by 7.7% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 19,123 shares of the real estate investment trust’s stock after selling 1,591 shares during the quarter. Highland Capital Management LLC’s holdings in Prologis were worth $2,027,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of Prologis in the 4th quarter valued at about $686,317,000. JPMorgan Chase & Co. raised its stake in Prologis by 6.5% in the 4th quarter. JPMorgan Chase & Co. now owns 28,826,307 shares of the real estate investment trust’s stock valued at $2,872,829,000 after acquiring an additional 1,771,628 shares during the period. BlackRock Inc. increased its position in Prologis by 2.2% during the 4th quarter. BlackRock Inc. now owns 76,214,355 shares of the real estate investment trust’s stock worth $7,595,521,000 after buying an additional 1,640,816 shares during the period. Canada Pension Plan Investment Board increased its position in Prologis by 84.8% during the 4th quarter. Canada Pension Plan Investment Board now owns 2,404,117 shares of the real estate investment trust’s stock worth $239,594,000 after buying an additional 1,103,508 shares during the period. Finally, Morgan Stanley increased its position in Prologis by 21.4% during the 4th quarter. Morgan Stanley now owns 6,176,309 shares of the real estate investment trust’s stock worth $615,531,000 after buying an additional 1,090,725 shares during the period. 94.07% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE PLD opened at $116.01 on Tuesday. The firm has a market capitalization of $85.82 billion, a P/E ratio of 51.56, a P/E/G ratio of 3.41 and a beta of 0.80. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.45. The stock’s 50-day simple moving average is $109.23 and its two-hundred day simple moving average is $102.87. Prologis, Inc. has a twelve month low of $80.12 and a twelve month high of $116.97.

Prologis (NYSE:PLD) last announced its earnings results on Sunday, April 18th. The real estate investment trust reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.08. Prologis had a return on equity of 4.67% and a net margin of 38.21%. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $992.53 million. During the same period in the prior year, the company earned $0.83 EPS. The company’s quarterly revenue was up 16.3% compared to the same quarter last year. As a group, research analysts anticipate that Prologis, Inc. will post 3.77 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 30th. Investors of record on Wednesday, June 16th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend is Tuesday, June 15th. Prologis’s dividend payout ratio is presently 76.13%.

Several research firms recently weighed in on PLD. Morgan Stanley raised their price objective on Prologis from $110.00 to $120.00 and gave the company an “overweight” rating in a research note on Monday. BTIG Research lifted their price target on Prologis from $117.00 to $121.00 and gave the company a “buy” rating in a research note on Thursday, April 22nd. Wells Fargo & Company raised their price objective on Prologis from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Monday. Raymond James initiated coverage on Prologis in a research report on Thursday, April 22nd. They set a “strong-buy” rating and a $125.00 price objective for the company. Finally, TheStreet upgraded Prologis from a “c+” rating to a “b” rating in a report on Friday. One investment analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $119.17.

About Prologis

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.

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Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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