Spirit of America Management Corp NY Sells 1,200 Shares of Prologis, Inc. $PLD

Spirit of America Management Corp NY lowered its holdings in Prologis, Inc. (NYSE:PLD) by 3.8% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 30,401 shares of the real estate investment trust’s stock after selling 1,200 shares during the quarter. Spirit of America Management Corp NY’s holdings in Prologis were worth $3,196,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Activest Wealth Management increased its holdings in Prologis by 637.1% during the 1st quarter. Activest Wealth Management now owns 258 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 223 shares during the period. Pandora Wealth Inc. bought a new stake in Prologis during the 1st quarter worth approximately $34,000. GKV Capital Management Co. Inc. bought a new stake in Prologis during the 1st quarter worth approximately $34,000. Saudi Central Bank bought a new stake in Prologis during the 1st quarter worth approximately $41,000. Finally, Olde Wealth Management LLC bought a new stake in Prologis during the 1st quarter worth approximately $43,000. Institutional investors own 93.50% of the company’s stock.

Prologis Trading Up 2.6%

Shares of PLD opened at $124.27 on Friday. The stock has a market capitalization of $115.40 billion, a P/E ratio of 36.23, a PEG ratio of 3.05 and a beta of 1.28. The company has a quick ratio of 0.65, a current ratio of 0.20 and a debt-to-equity ratio of 0.62. The firm has a fifty day simple moving average of $113.12 and a two-hundred day simple moving average of $108.06. Prologis, Inc. has a twelve month low of $85.35 and a twelve month high of $125.04.

Prologis (NYSE:PLD) last announced its quarterly earnings results on Wednesday, October 15th. The real estate investment trust reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.05. The business had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Prologis had a net margin of 36.71% and a return on equity of 5.55%. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.43 EPS. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. On average, research analysts anticipate that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were given a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend was Tuesday, September 16th. Prologis’s dividend payout ratio (DPR) is currently 109.49%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PLD. UBS Group upped their target price on shares of Prologis from $106.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, July 8th. Barclays decreased their target price on shares of Prologis from $119.00 to $118.00 and set an “overweight” rating on the stock in a report on Monday, September 15th. Weiss Ratings reissued a “hold (c)” rating on shares of Prologis in a report on Wednesday, October 8th. Bank of America raised shares of Prologis from a “neutral” rating to a “buy” rating and upped their price objective for the company from $118.00 to $130.00 in a research note on Tuesday, September 16th. Finally, Scotiabank set a $114.00 price objective on shares of Prologis and gave the company a “sector perform” rating in a research note on Wednesday, August 27th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $122.74.

Insider Activity

In other news, Director Cristina Gabriela Bita sold 500 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $115.69, for a total value of $57,845.00. Following the completion of the sale, the director directly owned 9,329 shares of the company’s stock, valued at approximately $1,079,272.01. This trade represents a 5.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Lori A. Palazzolo sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $111.33, for a total transaction of $2,783,250.00. Following the completion of the sale, the chief accounting officer directly owned 414 shares of the company’s stock, valued at approximately $46,090.62. This represents a 98.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,500 shares of company stock valued at $2,952,095. Corporate insiders own 0.57% of the company’s stock.

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.