Spirit of America Management Corp NY reduced its holdings in Prologis Inc (NYSE:PLD) by 4.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 101,738 shares of the real estate investment trust’s stock after selling 4,220 shares during the period. Prologis makes up 1.1% of Spirit of America Management Corp NY’s holdings, making the stock its 28th biggest position. Spirit of America Management Corp NY’s holdings in Prologis were worth $7,320,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Clean Yield Group acquired a new stake in Prologis during the fourth quarter worth about $31,000. Benjamin F. Edwards & Company Inc. increased its position in Prologis by 134.5% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 523 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 300 shares during the last quarter. Lindbrook Capital LLC acquired a new stake in Prologis during the fourth quarter worth about $33,000. PRW Wealth Management LLC acquired a new stake in Prologis during the fourth quarter worth about $33,000. Finally, Evolution Wealth Advisors LLC acquired a new stake in Prologis during the fourth quarter worth about $35,000. 95.57% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Prologis stock traded down $0.36 during trading on Wednesday, reaching $72.41. The company’s stock had a trading volume of 55,009 shares, compared to its average volume of 2,019,767. The stock has a market capitalization of $46.48 billion, a price-to-earnings ratio of 23.83, a PEG ratio of 4.36 and a beta of 1.02. Prologis Inc has a fifty-two week low of $55.21 and a fifty-two week high of $74.59. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.45 and a quick ratio of 0.45.
Prologis (NYSE:PLD) last announced its earnings results on Tuesday, April 16th. The real estate investment trust reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.01. The business had revenue of $696.80 million for the quarter, compared to analysts’ expectations of $687.21 million. Prologis had a net margin of 58.81% and a return on equity of 7.46%. The company’s quarterly revenue was up 25.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.80 EPS. Analysts anticipate that Prologis Inc will post 3.17 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a $0.53 dividend. This is a boost from Prologis’s previous quarterly dividend of $0.48. This represents a $2.12 annualized dividend and a yield of 2.93%. The ex-dividend date of this dividend was Thursday, March 14th. Prologis’s payout ratio is currently 69.97%.
A number of equities research analysts have weighed in on PLD shares. Wells Fargo & Co set a $65.00 price target on shares of Prologis and gave the company a “market perform” rating in a research report on Wednesday, January 16th. They noted that the move was a valuation call. Barclays restated a “buy” rating on shares of Prologis in a research report on Thursday, February 21st. Deutsche Bank upgraded shares of Prologis from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $68.00 to $72.00 in a research report on Tuesday, December 18th. ValuEngine downgraded shares of Prologis from a “buy” rating to a “hold” rating in a research report on Wednesday, January 2nd. Finally, KeyCorp boosted their price objective on shares of Prologis from $72.00 to $77.00 and gave the stock a “buy” rating in a research report on Monday, March 25th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $72.15.
In other Prologis news, Director Philip L. Hawkins sold 15,000 shares of the business’s stock in a transaction on Wednesday, January 30th. The shares were sold at an average price of $68.20, for a total value of $1,023,000.00. Following the transaction, the director now directly owns 44,511 shares of the company’s stock, valued at approximately $3,035,650.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Eugene F. Reilly sold 19,000 shares of the business’s stock in a transaction on Monday, February 11th. The shares were sold at an average price of $71.07, for a total transaction of $1,350,330.00. Following the completion of the transaction, the chief executive officer now directly owns 17,685 shares in the company, valued at $1,256,872.95. The disclosure for this sale can be found here. Insiders sold a total of 127,126 shares of company stock worth $8,895,929 over the last three months. 1.10% of the stock is currently owned by corporate insiders.
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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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