Highland Capital Management LLC Lowers Stock Holdings in Prologis, Inc. (NYSE:PLD)

Highland Capital Management LLC lessened its holdings in Prologis, Inc. (NYSE:PLD) by 5.2% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 29,360 shares of the real estate investment trust’s stock after selling 1,600 shares during the period. Highland Capital Management LLC’s holdings in Prologis were worth $3,708,000 as of its most recent SEC filing.

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

Insider Transactions 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 stock was sold at an average price of $129.07, for a total transaction of $671,164.00. Following the transaction, the executive now directly owns 13,187 shares in the company, valued at $1,702,046.09. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.50% of the company’s stock.

Prologis Stock Down 2.4 %

Shares of NYSE PLD opened at $117.52 on Friday. Prologis, Inc. has a 1 year low of $96.64 and a 1 year high of $137.52. The firm has a 50-day simple moving average of $125.17 and a two-hundred day simple moving average of $117.56. The company has a market cap of $108.81 billion, a P/E ratio of 34.36, a PEG ratio of 3.05 and a beta of 1.07. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.36 and a quick ratio of 0.36.

Prologis (NYSE:PLD) last issued its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.29). Prologis had a return on equity of 4.88% and a net margin of 36.37%. The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. During the same quarter in the previous year, the company posted $1.30 earnings per share. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. Research analysts anticipate that Prologis, Inc. will post 5.42 earnings per share for the current year.

Prologis Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a $0.96 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a yield of 3.27%. Prologis’s dividend payout ratio is currently 112.28%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PLD. 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. Evercore ISI increased their price target on Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Barclays cut their price target on Prologis from $142.00 to $131.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. Bank of America reaffirmed a “neutral” rating and set a $128.00 price objective on shares of Prologis in a report on Monday, August 12th. Finally, Morgan Stanley boosted their price target on shares of Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Eight research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $131.12.

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.