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

Highland Capital Management LLC decreased its stake in shares of Prologis, Inc. (NYSE:PLD) by 0.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,580 shares of the real estate investment trust’s stock after selling 210 shares during the quarter. Highland Capital Management LLC’s holdings in Prologis were worth $3,195,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of PLD. REAP Financial Group LLC boosted its position in shares of Prologis by 40.0% during the 4th quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 84 shares in the last quarter. Phoenix Financial Ltd. boosted its position in shares of Prologis by 1.0% during the 4th quarter. Phoenix Financial Ltd. now owns 9,032 shares of the real estate investment trust’s stock worth $955,000 after acquiring an additional 86 shares in the last quarter. CreativeOne Wealth LLC boosted its position in shares of Prologis by 1.7% during the 4th quarter. CreativeOne Wealth LLC now owns 6,073 shares of the real estate investment trust’s stock worth $642,000 after acquiring an additional 100 shares in the last quarter. J.Safra Asset Management Corp boosted its position in shares of Prologis by 22.3% during the 4th quarter. J.Safra Asset Management Corp now owns 559 shares of the real estate investment trust’s stock worth $59,000 after acquiring an additional 102 shares in the last quarter. Finally, Focus Financial Network Inc. boosted its position in shares of Prologis by 5.2% during the 1st quarter. Focus Financial Network Inc. now owns 2,093 shares of the real estate investment trust’s stock worth $234,000 after acquiring an additional 104 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Analyst Upgrades and Downgrades

PLD has been the subject of several analyst reports. Mizuho lowered their price objective on Prologis from $117.00 to $105.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Wall Street Zen cut Prologis from a “hold” rating to a “sell” rating in a research report on Saturday, June 14th. Royal Bank Of Canada lowered their price objective on Prologis from $128.00 to $117.00 and set a “sector perform” rating for the company in a research report on Tuesday, April 29th. Robert W. Baird decreased their target price on Prologis from $126.00 to $120.00 and set an “outperform” rating for the company in a research report on Wednesday, May 7th. Finally, Morgan Stanley decreased their target price on Prologis to $120.00 and set an “outperform” rating for the company in a research report on Monday, April 14th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Prologis currently has a consensus rating of “Moderate Buy” and an average price target of $120.42.

Prologis Stock Up 1.1%

PLD opened at $105.58 on Friday. The business has a 50 day moving average price of $106.21 and a two-hundred day moving average price of $109.48. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.56. The company has a market cap of $97.97 billion, a PE ratio of 26.39, a P/E/G ratio of 2.68 and a beta of 1.25. Prologis, Inc. has a 52 week low of $85.35 and a 52 week high of $132.57.

Prologis (NYSE:PLD) last posted its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $1.42 EPS for the quarter, beating the consensus estimate of $1.38 by $0.04. The firm had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.99 billion. Prologis had a return on equity of 6.45% and a net margin of 44.59%. As a group, research analysts anticipate that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th will be paid a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date is Tuesday, June 17th. Prologis’s dividend payout ratio (DPR) is 101.00%.

Prologis Profile

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.