Prologis Passes American Tower Corp In Size By Market Cap - Becomes The Highest Valued REIT

So much American Tower Corp. (NYSE:AMT) stock sold last week that it gave up its market capitalization leadership status to Prologis Inc. (NYSE:PLD). Prologis shares sold as well (-1.22% for the week), but it didn’t come close to the dumping of American Tower shares (-8.69%). 

The market cap figures are important measures of value to those Wall Street analysts who keep track of which stock in a sector is at the top of the list. Naturally, it’s not the only value measurement that’s examined, but it’s key to the overall attractiveness or nonattractiveness of shares in a company. It’s a buy or sell decision factor.

The total market capitalization for Prologis now comes to $92.4 billion. The total market capitalization for American Tower now comes to $89.6 billion. It may not seem like a huge difference — and it’s not — but it’s the fact that Prologis now appears above rather than below American Tower on analysts’ lists for the big real estate investment trusts (REITs).

Take a look at the weekly price chart for Prologis:

Notice how it’s just barely closed beneath the stock’s 200-week moving average (the red line). 

Now take a look at the weekly price chart for American Tower:

Note the difference in magnitude compared to the Prologis weekly price chart. This one shows a drop well below the 200-week moving average and each red bar of selling for the past four weeks is a tremendous downward move.

This activity has resulted in a change in market cap leadership for the big names in the real estate investment trust sector.

Market capitalization is figured by multiplying the total number of shares a company has times the price of the stock. 

For comparison’s sake, the market cap of Apple Inc. (NASDAQ:AAPL) is $2.34 trillion, the market cap of Microsoft Corp. (NASDAQ:MSFT) is $1.84 trillion, and the market cap of Johnson & Johnson (NYSE:JNJ) is $425.69 billion.

Read next: This Little-Known REIT Is Producing Double-Digit Returns In A Bear Market: How?

Not investment advice. For educational purposes only.

Charts: courtesy of StockCharts