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

Spirit of America Management Corp NY trimmed its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 7.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 31,601 shares of the real estate investment trust's stock after selling 2,700 shares during the period. Spirit of America Management Corp NY's holdings in Prologis were worth $3,533,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Aviva PLC raised its position in shares of Prologis by 36.6% in the 4th quarter. Aviva PLC now owns 695,187 shares of the real estate investment trust's stock valued at $73,481,000 after purchasing an additional 186,187 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Prologis by 29.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 784,360 shares of the real estate investment trust's stock valued at $82,907,000 after purchasing an additional 179,880 shares in the last quarter. Allstate Corp raised its position in shares of Prologis by 111.7% in the 4th quarter. Allstate Corp now owns 74,518 shares of the real estate investment trust's stock valued at $7,877,000 after purchasing an additional 39,321 shares in the last quarter. First Citizens Bank & Trust Co. raised its position in shares of Prologis by 1,451.2% during the 1st quarter. First Citizens Bank & Trust Co. now owns 31,180 shares of the real estate investment trust's stock valued at $3,486,000 after acquiring an additional 29,170 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Prologis by 2.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 16,596,799 shares of the real estate investment trust's stock valued at $1,754,282,000 after acquiring an additional 334,907 shares in the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Morgan Stanley dropped their price target on Prologis to $120.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. Barclays dropped their price target on Prologis from $132.00 to $119.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 30th. Truist Financial dropped their price target on Prologis from $123.00 to $120.00 and set a "buy" rating on the stock in a research report on Monday, May 5th. Wells Fargo & Company dropped their price target on Prologis from $146.00 to $119.00 and set an "overweight" rating on the stock in a research report on Monday, May 19th. Finally, Scotiabank upped their price target on Prologis from $97.00 to $100.00 and gave the company a "sector underperform" rating in a research report on Monday, May 12th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, Prologis presently has an average rating of "Moderate Buy" and a consensus price target of $120.42.

Prologis Trading Down 0.0%

NYSE:PLD opened at $105.05 on Friday. Prologis, Inc. has a 1 year low of $85.35 and a 1 year high of $132.57. The stock has a market cap of $97.48 billion, a price-to-earnings ratio of 26.26, a PEG ratio of 2.67 and a beta of 1.25. The business has a fifty day moving average of $105.43 and a 200-day moving average of $109.85. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.41 and a current ratio of 0.41.

Prologis (NYSE:PLD - Get Free Report) last released its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.04. Prologis had a return on equity of 6.45% and a net margin of 44.59%. The company had revenue of $1.99 billion during the quarter, compared to analysts' expectations of $1.99 billion. Equities analysts predict that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th will be paid a $1.01 dividend. The ex-dividend date is Tuesday, June 17th. This represents a $4.04 annualized dividend and a dividend yield of 3.85%. Prologis's payout ratio is 101.00%.

Prologis Company Profile

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.

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