The Manufacturers Life Insurance Company Sells 19,688 Shares of Prologis, Inc. (NYSE:PLD)

The Manufacturers Life Insurance Company lowered its stake in Prologis, Inc. (NYSE:PLDGet Rating) by 2.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 772,711 shares of the real estate investment trust’s stock after selling 19,688 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.10% of Prologis worth $124,777,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Highland Capital Management LLC grew its position in shares of Prologis by 0.3% in the 1st quarter. Highland Capital Management LLC now owns 18,103 shares of the real estate investment trust’s stock worth $2,923,000 after buying an additional 60 shares during the last quarter. Gateway Investment Advisers LLC boosted its position in shares of Prologis by 1.1% during the first quarter. Gateway Investment Advisers LLC now owns 5,780 shares of the real estate investment trust’s stock valued at $933,000 after purchasing an additional 62 shares in the last quarter. Financial Management Professionals Inc. boosted its position in shares of Prologis by 43.8% during the first quarter. Financial Management Professionals Inc. now owns 220 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 67 shares in the last quarter. Clean Yield Group boosted its position in shares of Prologis by 1.4% during the first quarter. Clean Yield Group now owns 5,129 shares of the real estate investment trust’s stock valued at $828,000 after purchasing an additional 69 shares in the last quarter. Finally, WMS Partners LLC boosted its position in shares of Prologis by 3.9% during the fourth quarter. WMS Partners LLC now owns 2,032 shares of the real estate investment trust’s stock valued at $342,000 after purchasing an additional 76 shares in the last quarter. Institutional investors own 94.01% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on PLD shares. Barclays dropped their price target 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 upgraded Prologis from a “peer perform” rating to an “outperform” rating and set a $200.00 price target on the stock in a research report on Wednesday, August 24th. Jefferies Financial Group dropped their price target on Prologis from $174.00 to $146.00 and set a “buy” rating on the stock in a research report on Thursday, June 30th. Wells Fargo & Company lifted their price target on Prologis from $160.00 to $163.00 and gave the company an “overweight” rating in a research report on Thursday, August 11th. Finally, Evercore ISI set a $134.00 price objective on Prologis in a research note on Tuesday, July 19th. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $173.38.

Prologis Stock Down 4.0 %

PLD stock opened at $116.22 on Friday. Prologis, Inc. has a 1-year low of $106.46 and a 1-year high of $174.54. The business has a fifty day moving average price of $128.08 and a 200-day moving average price of $136.91. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.42 and a quick ratio of 0.42. The stock has a market capitalization of $86.05 billion, a P/E ratio of 23.24, a P/E/G ratio of 2.69 and a beta of 0.88.

Prologis (NYSE:PLDGet Rating) last posted 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). Prologis had a return on equity of 9.85% and a net margin of 75.72%. The business had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter in the prior year, the firm earned $1.01 EPS. The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. Equities analysts forecast that Prologis, Inc. will post 5.17 earnings per share for the current fiscal year.

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Thursday, September 15th will be given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date of this dividend is Wednesday, September 14th. Prologis’s dividend payout ratio (DPR) is presently 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.

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Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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