Canada Pension Plan Investment Board Has $280 Million Stock Holdings in Prologis, Inc. (NYSE:PLD)

Canada Pension Plan Investment Board raised its holdings in shares of Prologis, Inc. (NYSE:PLD) by 9.9% during the first quarter, HoldingsChannel.com reports. The firm owned 2,641,495 shares of the real estate investment trust’s stock after acquiring an additional 237,378 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Prologis were worth $279,998,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in Prologis during the 4th quarter worth approximately $686,317,000. Blackstone Group Inc. boosted its holdings in shares of Prologis by 638.1% in the 1st quarter. Blackstone Group Inc. now owns 2,384,814 shares of the real estate investment trust’s stock valued at $252,790,000 after buying an additional 2,061,714 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Prologis by 25.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,968,844 shares of the real estate investment trust’s stock valued at $632,698,000 after buying an additional 1,226,493 shares during the last quarter. Morgan Stanley boosted its holdings in shares of Prologis by 21.4% in the 4th quarter. Morgan Stanley now owns 6,176,309 shares of the real estate investment trust’s stock valued at $615,531,000 after buying an additional 1,090,725 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Prologis by 306.8% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,305,482 shares of the real estate investment trust’s stock valued at $130,104,000 after buying an additional 984,591 shares during the last quarter. Institutional investors own 92.44% of the company’s stock.

PLD has been the subject of several research 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. Wells Fargo & Company raised their price target on Prologis from $125.00 to $135.00 and gave the company an “overweight” rating in a report on Monday, June 7th. Robert W. Baird raised their price target on Prologis from $108.00 to $124.00 and gave the company a “neutral” rating in a report on Tuesday. Morgan Stanley increased their price objective on Prologis from $120.00 to $131.00 and gave the stock an “overweight” rating in a research report on Thursday, July 15th. Finally, BTIG Research increased their price objective on Prologis from $117.00 to $121.00 and gave the stock a “buy” rating in a research report on Friday, April 16th. Two equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $125.21.

In other Prologis news, Director Lydia H. Kennard sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, May 27th. The stock was sold at an average price of $118.00, for a total value of $1,180,000.00. Following the transaction, the director now directly owns 32,773 shares of the company’s stock, valued at $3,867,214. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.87% of the stock is currently owned by insiders.

Shares of Prologis stock traded down $0.38 during midday trading on Thursday, reaching $126.52. The company had a trading volume of 20,703 shares, compared to its average volume of 2,212,616. The stock’s fifty day moving average is $121.53. The company has a current ratio of 0.20, a quick ratio of 0.59 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $93.60 billion, a price-to-earnings ratio of 60.88, a PEG ratio of 4.40 and a beta of 0.74. Prologis, Inc. has a fifty-two week low of $93.08 and a fifty-two week high of $128.87.

Prologis (NYSE:PLD) last issued its quarterly earnings results on Sunday, July 18th. The real estate investment trust reported $0.81 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.37. Prologis had a return on equity of 4.27% and a net margin of 34.54%. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same period in the previous year, the firm earned $1.11 earnings per share. The company’s revenue was up 21.8% compared to the same quarter last year. Research analysts forecast that Prologis, Inc. will post 4.03 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 30th. Shareholders of record on Wednesday, June 16th were paid a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend was Tuesday, June 15th. Prologis’s dividend payout ratio (DPR) is presently 66.32%.

About Prologis

Prologis, Inc engages in the provision of real estate investment trust services. It operates through Real Estate Operations and Strategic Capital segments. The Real Estate Operations segment represents the ownership and development of logistics properties and also includes rental revenues, recoveries and expenses recognized from its consolidated properties.

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Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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