Spirit of America Management Corp NY Has $3.63 Million Stake in Prologis, Inc. (NYSE:PLD)

Spirit of America Management Corp NY lowered its holdings in Prologis, Inc. (NYSE:PLD) by 9.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 34,301 shares of the real estate investment trust’s stock after selling 3,600 shares during the quarter. Spirit of America Management Corp NY’s holdings in Prologis were worth $3,626,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dunhill Financial LLC grew its holdings in Prologis by 239.5% in the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 182 shares during the last quarter. Hara Capital LLC acquired a new stake in Prologis in the 3rd quarter valued at approximately $48,000. Coastline Trust Co acquired a new stake in Prologis in the 3rd quarter valued at approximately $52,000. Fortitude Family Office LLC grew its holdings in Prologis by 120.6% in the 3rd quarter. Fortitude Family Office LLC now owns 439 shares of the real estate investment trust’s stock valued at $55,000 after buying an additional 240 shares during the last quarter. Finally, Reston Wealth Management LLC acquired a new stake in Prologis in the 3rd quarter valued at approximately $70,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Trading Up 0.5 %

Shares of PLD opened at $118.38 on Wednesday. The stock has a fifty day moving average price of $111.02 and a two-hundred day moving average price of $118.33. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.23. Prologis, Inc. has a 52-week low of $100.82 and a 52-week high of $135.76. The company has a market cap of $109.64 billion, a price-to-earnings ratio of 29.59, a PEG ratio of 2.66 and a beta of 1.10.

Prologis Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were given a $0.96 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $3.84 annualized dividend and a yield of 3.24%. Prologis’s payout ratio is 96.00%.

Analysts Set New Price Targets

A number of analysts have issued reports on PLD shares. BTIG Research lowered their target price on Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a report on Friday, January 17th. Barclays lifted their price objective on Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a report on Monday, November 18th. JPMorgan Chase & Co. decreased their price objective on Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a report on Monday, October 21st. BNP Paribas raised Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. Finally, BMO Capital Markets lowered Prologis from a “market perform” rating to an “underperform” rating and decreased their price objective for the stock from $120.00 to $104.00 in a report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $128.78.

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.