Prologis Inc. (PLD) Shares Sold by Spirit of America Management Corp NY
Spirit of America Management Corp NY reduced its stake in shares of Prologis Inc. (NYSE:PLD) by 4.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 100,725 shares of the company’s stock after selling 4,275 shares during the period. Spirit of America Management Corp NY’s holdings in Prologis were worth $5,393,000 as of its most recent filing with the SEC.
Several other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Prologis by 2.3% in the second quarter. Vanguard Group Inc. now owns 73,654,987 shares of the company’s stock valued at $3,612,041,000 after buying an additional 1,623,990 shares during the last quarter. Cohen & Steers Inc. increased its stake in Prologis by 194.7% in the second quarter. Cohen & Steers Inc. now owns 31,179,168 shares of the company’s stock valued at $1,529,026,000 after buying an additional 20,598,621 shares during the last quarter. FMR LLC increased its stake in Prologis by 22.4% in the second quarter. FMR LLC now owns 18,463,142 shares of the company’s stock valued at $905,433,000 after buying an additional 3,379,560 shares during the last quarter. BlackRock Fund Advisors increased its stake in Prologis by 1.7% in the second quarter. BlackRock Fund Advisors now owns 15,560,078 shares of the company’s stock valued at $763,066,000 after buying an additional 265,092 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its stake in Prologis by 106.2% in the second quarter. Daiwa Securities Group Inc. now owns 15,437,311 shares of the company’s stock valued at $757,046,000 after buying an additional 7,950,874 shares during the last quarter. Institutional investors own 99.13% of the company’s stock.
Shares of Prologis Inc. (NYSE:PLD) traded down 1.05% during midday trading on Wednesday, hitting $50.90. The stock had a trading volume of 3,810,434 shares. Prologis Inc. has a 12 month low of $35.25 and a 12 month high of $54.87. The stock’s 50 day moving average price is $50.21 and its 200 day moving average price is $50.99. The firm has a market cap of $26.91 billion, a price-to-earnings ratio of 30.41 and a beta of 1.15.
Prologis (NYSE:PLD) last released its quarterly earnings data on Thursday, October 20th. The company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.70 by $0.03. Prologis had a return on equity of 4.86% and a net margin of 34.73%. The company had revenue of $705 million for the quarter, compared to analysts’ expectations of $221.07 million. During the same period last year, the firm posted $0.58 earnings per share. Prologis’s revenue was up 21.3% compared to the same quarter last year. On average, equities analysts forecast that Prologis Inc. will post ($0.27) EPS for the current fiscal year.
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Several analysts recently issued reports on the stock. Zacks Investment Research raised shares of Prologis from a “hold” rating to a “buy” rating and set a $56.00 price target for the company in a research report on Thursday, November 24th. BTIG Research reaffirmed a “positive” rating and set a $57.00 price objective on shares of Prologis in a report on Friday, November 11th. Cantor Fitzgerald set a $55.00 price objective on shares of Prologis and gave the stock a “buy” rating in a report on Thursday, November 10th. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and set a $57.00 price objective on shares of Prologis in a report on Wednesday, November 2nd. Finally, Robert W. Baird downgraded shares of Prologis from an “outperform” rating to a “neutral” rating and lifted their price objective for the stock from $52.00 to $54.00 in a report on Wednesday, August 17th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $51.36.
Prologis Company Profile
Prologis, Inc is engaged in logistics real estate business, focused on markets across the Americas, Europe and Asia. The Company owns or has investments in, on a basis or through co-investment ventures, properties and development projects in over 20 countries. Its segments include Real Estate Operations and Strategic Capital.
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