CI Investments Inc. Sells 495,502 Shares of Prologis, Inc. (NYSE:PLD)

CI Investments Inc. reduced its holdings in shares of Prologis, Inc. (NYSE:PLDGet Rating) by 19.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,076,212 shares of the real estate investment trust’s stock after selling 495,502 shares during the quarter. Prologis comprises 1.1% of CI Investments Inc.’s investment portfolio, making the stock its 17th biggest position. CI Investments Inc.’s holdings in Prologis were worth $244,266,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of PLD. Vanguard Group Inc. boosted its holdings in shares of Prologis by 1.9% in the first quarter. Vanguard Group Inc. now owns 97,672,838 shares of the real estate investment trust’s stock worth $15,772,211,000 after acquiring an additional 1,814,967 shares during the period. State Street Corp grew its holdings in Prologis by 10.4% during the 1st quarter. State Street Corp now owns 51,717,111 shares of the real estate investment trust’s stock valued at $8,351,279,000 after buying an additional 4,861,668 shares in the last quarter. FMR LLC increased its position in shares of Prologis by 6.0% during the second quarter. FMR LLC now owns 24,083,514 shares of the real estate investment trust’s stock valued at $2,833,425,000 after buying an additional 1,361,120 shares during the period. Cohen & Steers Inc. lifted its holdings in shares of Prologis by 23.5% in the first quarter. Cohen & Steers Inc. now owns 18,488,000 shares of the real estate investment trust’s stock worth $2,985,801,000 after buying an additional 3,513,643 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of Prologis by 2.4% in the first quarter. Invesco Ltd. now owns 12,780,479 shares of the real estate investment trust’s stock valued at $2,063,792,000 after acquiring an additional 294,825 shares during the period. 94.01% of the stock is owned by institutional investors.

Prologis Trading Down 0.2 %

NYSE PLD traded down $0.25 during trading on Thursday, hitting $115.53. 1,585,470 shares of the company’s stock traded hands, compared to its average volume of 3,820,977. The stock has a fifty day moving average of $107.85 and a two-hundred day moving average of $118.90. Prologis, Inc. has a 12-month low of $98.03 and a 12-month high of $174.54. The firm has a market cap of $106.64 billion, a P/E ratio of 21.43, a PEG ratio of 2.61 and a beta of 0.95. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.48 and a quick ratio of 0.48.

Prologis (NYSE:PLDGet Rating) last released its earnings results on Wednesday, October 19th. The real estate investment trust reported $1.36 earnings per share for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.31). Prologis had a net margin of 73.21% and a return on equity of 10.43%. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same period last year, the firm posted $1.04 EPS. The company’s revenue was up 10.9% on a year-over-year basis. As a group, sell-side analysts expect that Prologis, Inc. will post 5.13 EPS for the current year.

Prologis Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Thursday, September 15th were issued a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 2.74%. The ex-dividend date of this dividend was Wednesday, September 14th. Prologis’s dividend payout ratio is 58.63%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on PLD shares. Wolfe Research raised shares of Prologis from a “peer perform” rating to an “outperform” rating and set a $200.00 target price on the stock in a report on Wednesday, August 24th. StockNews.com assumed coverage on Prologis in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft reduced their target price on Prologis from $156.00 to $149.00 in a research report on Wednesday, November 2nd. Citigroup started coverage on Prologis in a report on Monday, October 3rd. They issued a “buy” rating and a $120.00 price target on the stock. Finally, Royal Bank of Canada decreased their price objective on shares of Prologis from $172.00 to $154.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 5th. One equities research analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $145.39.

About Prologis

(Get Rating)

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.

Read More

Want to see what other hedge funds are holding PLD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Prologis, Inc. (NYSE:PLDGet Rating).

Institutional Ownership by Quarter for Prologis (NYSE:PLD)

Receive News & Ratings for Prologis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prologis and related companies with MarketBeat.com's FREE daily email newsletter.