Spirit of America Management Corp NY trimmed its position in Prologis Inc (NYSE:PLD) by 4.0% during the first quarter, HoldingsChannel reports. The firm owned 101,738 shares of the real estate investment trust’s stock after selling 4,220 shares during the period. Prologis accounts for about 1.1% of Spirit of America Management Corp NY’s holdings, making the stock its 28th largest holding. Spirit of America Management Corp NY’s holdings in Prologis were worth $7,320,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in PLD. Clean Yield Group purchased a new position in shares of Prologis during the 4th quarter worth about $31,000. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Prologis by 134.5% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 523 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 300 shares during the period. Lindbrook Capital LLC purchased a new position in shares of Prologis during the 4th quarter worth about $33,000. PRW Wealth Management LLC purchased a new position in shares of Prologis during the 4th quarter worth about $33,000. Finally, Evolution Wealth Advisors LLC purchased a new position in shares of Prologis during the 4th quarter worth about $35,000. Institutional investors own 95.57% of the company’s stock.
Several research analysts have recently weighed in on PLD shares. Deutsche Bank upgraded shares of Prologis from a “hold” rating to a “buy” rating and increased their price objective for the stock from $68.00 to $72.00 in a report on Tuesday, December 18th. ValuEngine lowered shares of Prologis from a “buy” rating to a “hold” rating in a report on Wednesday, January 2nd. Wells Fargo & Co set a $65.00 price objective on shares of Prologis and gave the stock a “market perform” rating in a report on Wednesday, January 16th. They noted that the move was a valuation call. Barclays reiterated a “buy” rating on shares of Prologis in a report on Thursday, February 21st. Finally, Robert W. Baird lowered shares of Prologis from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $73.00 to $71.00 in a report on Friday, March 1st. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $72.15.
PLD traded down $0.36 on Wednesday, reaching $72.41. 55,009 shares of the company’s stock were exchanged, compared to its average volume of 2,019,767. The company has a market cap of $46.48 billion, a PE ratio of 23.83, a price-to-earnings-growth ratio of 4.36 and a beta of 1.02. Prologis Inc has a twelve month low of $55.21 and a twelve month high of $74.59. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.45 and a current ratio of 0.45.
Prologis (NYSE:PLD) last posted its earnings results on Tuesday, April 16th. The real estate investment trust reported $0.73 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.01. The firm had revenue of $696.80 million during the quarter, compared to the consensus estimate of $687.21 million. Prologis had a net margin of 58.81% and a return on equity of 7.46%. The company’s revenue was up 25.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.80 EPS. On average, sell-side analysts predict that Prologis Inc will post 3.17 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date was Thursday, March 14th. This is an increase from Prologis’s previous quarterly dividend of $0.48. Prologis’s dividend payout ratio is 69.97%.
Prologis Company Profile
Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of December 31, 2018, 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 768 million square feet (71 million square meters) in 19 countries.
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