Prologis, Inc. (NYSE:PLD) Shares Sold by Spirit of America Management Corp NY

Spirit of America Management Corp NY trimmed its position in shares of Prologis, Inc. (NYSE:PLD) by 3.1% during the third quarter, HoldingsChannel reports. The fund owned 37,901 shares of the real estate investment trust’s stock after selling 1,200 shares during the quarter. Prologis comprises 1.0% of Spirit of America Management Corp NY’s holdings, making the stock its 27th biggest position. Spirit of America Management Corp NY’s holdings in Prologis were worth $4,786,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in PLD. American Capital Advisory LLC purchased a new stake in Prologis during the second quarter worth about $26,000. Semmax Financial Advisors Inc. purchased a new stake in shares of Prologis in the second quarter valued at about $27,000. Central Valley Advisors LLC purchased a new stake in shares of Prologis in the second quarter valued at about $29,000. Sunbelt Securities Inc. lifted its holdings in shares of Prologis by 640.0% in the second quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 224 shares in the last quarter. Finally, Wetzel Investment Advisors Inc. purchased a new stake in shares of Prologis in the second quarter valued at about $31,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CIO Joseph Ghazal sold 5,200 shares of Prologis stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $129.07, for a total transaction of $671,164.00. Following the sale, the executive now owns 13,187 shares of the company’s stock, valued at $1,702,046.09. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Barclays reduced their price target on shares of Prologis from $142.00 to $131.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. Evercore ISI boosted their price objective on shares of Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. StockNews.com raised shares of Prologis from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. Bank of America reissued a “neutral” rating and issued a $128.00 price objective on shares of Prologis in a research report on Monday, August 12th. Finally, Scotiabank boosted their price objective on shares of Prologis from $135.00 to $142.00 and gave the company a “sector outperform” rating in a research report on Monday, August 26th. Eight equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $131.47.

Prologis Stock Performance

Shares of PLD stock opened at $120.39 on Friday. The company’s fifty day simple moving average is $125.26 and its 200-day simple moving average is $117.54. Prologis, Inc. has a 52 week low of $96.64 and a 52 week high of $137.52. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.52. The company has a market cap of $111.46 billion, a PE ratio of 35.20, a P/E/G ratio of 3.05 and a beta of 1.07.

Prologis (NYSE:PLD) last issued its earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). Prologis had a net margin of 36.37% and a return on equity of 4.88%. The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. During the same period in the prior year, the business posted $1.30 EPS. The business’s revenue was up 6.9% on a year-over-year basis. As a group, equities research analysts anticipate that Prologis, Inc. will post 5.42 EPS for the current year.

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date was Monday, September 16th. Prologis’s dividend payout ratio is presently 112.28%.

About Prologis

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At March 31, 2024, 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 1.2 billion square feet (115 million square meters) in 19 countries.