Prologis, Inc. (NYSE:PLD) Shares Sold by Manning & Napier Group LLC
Manning & Napier Group LLC lessened its holdings in Prologis, Inc. (NYSE:PLD) by 3.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 300,623 shares of the real estate investment trust’s stock after selling 12,075 shares during the quarter. Manning & Napier Group LLC’s holdings in Prologis were worth $31,865,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. BlackRock Inc. boosted its holdings in Prologis by 2.2% in the fourth quarter. BlackRock Inc. now owns 76,214,355 shares of the real estate investment trust’s stock worth $7,595,521,000 after acquiring an additional 1,640,816 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Prologis by 6.5% in the fourth quarter. JPMorgan Chase & Co. now owns 28,826,307 shares of the real estate investment trust’s stock worth $2,872,829,000 after acquiring an additional 1,771,628 shares in the last quarter. PGGM Investments boosted its holdings in Prologis by 3.8% in the fourth quarter. PGGM Investments now owns 8,907,384 shares of the real estate investment trust’s stock worth $887,710,000 after acquiring an additional 329,729 shares in the last quarter. UBS Asset Management Americas Inc. boosted its holdings in Prologis by 13.7% in the fourth quarter. UBS Asset Management Americas Inc. now owns 7,280,048 shares of the real estate investment trust’s stock worth $725,530,000 after acquiring an additional 879,729 shares in the last quarter. Finally, Norges Bank acquired a new stake in Prologis in the fourth quarter worth about $686,317,000. 94.07% of the stock is owned by institutional investors and hedge funds.
PLD has been the subject of several recent analyst reports. Zacks Investment Research downgraded Prologis from a “buy” rating to a “hold” rating and set a $122.00 price target for the company. in a report on Wednesday, April 21st. TheStreet upgraded Prologis from a “c+” rating to a “b” rating in a research note on Friday. Raymond James assumed coverage on Prologis in a research note on Thursday, April 22nd. They issued a “strong-buy” rating and a $125.00 price objective for the company. 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 note on Monday. Finally, Morgan Stanley raised their price objective on Prologis from $110.00 to $120.00 and gave the stock an “overweight” rating in a research note on Monday. One investment analyst has rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $119.17.
Prologis (NYSE:PLD) last announced its quarterly earnings results on Sunday, April 18th. The real estate investment trust reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.08. The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $992.53 million. Prologis had a return on equity of 4.67% and a net margin of 38.21%. Prologis’s quarterly revenue was up 16.3% on a year-over-year basis. During the same period last year, the business earned $0.83 earnings per share. On average, research analysts predict that Prologis, Inc. will post 3.77 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 30th. Stockholders of record on Wednesday, June 16th will be given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend is Tuesday, June 15th. Prologis’s dividend payout ratio (DPR) is presently 76.13%.
Prologis Company Profile
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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