Mutual of America Capital Management LLC Cuts Stock Position in Prologis, Inc. (NYSE:PLD)

by · The Cerbat Gem

Mutual of America Capital Management LLC trimmed its position in shares of Prologis, Inc. (NYSE:PLD – Free Report) by 3.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 116,767 shares of the real estate investment trust’s stock after selling 4,383 shares during the period. Mutual of America Capital Management LLC’s holdings in Prologis were worth $13,114,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. L & S Advisors Inc increased its stake in shares of Prologis by 7.5% during the second quarter. L & S Advisors Inc now owns 19,605 shares of the real estate investment trust’s stock worth $2,202,000 after buying an additional 1,365 shares during the period. Perennial Investment Advisors LLC increased its stake in shares of Prologis by 21.4% during the second quarter. Perennial Investment Advisors LLC now owns 2,250 shares of the real estate investment trust’s stock worth $253,000 after buying an additional 396 shares during the period. Alpha Financial Partners LLC purchased a new stake in shares of Prologis during the second quarter worth approximately $262,000. Edgestream Partners L.P. purchased a new stake in shares of Prologis during the second quarter worth approximately $241,000. Finally, One Capital Management LLC increased its stake in Prologis by 770.6% in the second quarter. One Capital Management LLC now owns 37,168 shares of the real estate investment trust’s stock valued at $4,174,000 after purchasing an additional 32,899 shares during the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CIO Joseph Ghazal sold 5,200 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $129.07, for a total value of $671,164.00. Following the completion of the transaction, the executive now owns 13,187 shares in the company, valued at $1,702,046.09. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on PLD. Royal Bank of Canada lowered shares of Prologis from an “outperform” rating to a “sector perform” rating and increased their price target for the company from $124.00 to $127.00 in a research note on Monday, August 5th. StockNews.com upgraded shares of Prologis from a “sell” rating to a “hold” rating in a research note on Thursday, July 18th. The Goldman Sachs Group increased their price target on shares of Prologis from $140.00 to $156.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Argus increased their price target on shares of Prologis from $120.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Finally, Bank of America reiterated a “neutral” rating and issued a $128.00 price target on shares of Prologis in a research note on Monday, August 12th. Seven investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Prologis has an average rating of “Moderate Buy” and an average price target of $133.35.

Get Our Latest Analysis on Prologis

Prologis Trading Down 0.3 %

NYSE:PLD opened at $128.91 on Wednesday. The stock has a fifty day moving average price of $125.00 and a two-hundred day moving average price of $118.68. The stock has a market capitalization of $119.35 billion, a price-to-earnings ratio of 37.69, a PEG ratio of 3.36 and a beta of 1.07. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.36 and a current ratio of 0.36. Prologis, Inc. has a 1 year low of $96.64 and a 1 year high of $137.52.

Prologis (NYSE:PLD – Get Free Report) last released its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.41). The business had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Prologis had a return on equity of 4.88% and a net margin of 36.37%. The company’s revenue was down 18.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.83 EPS. As a group, sell-side analysts anticipate that Prologis, Inc. will post 5.42 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 2.98%. The ex-dividend date is Monday, September 16th. Prologis’s payout ratio is 112.28%.

Prologis Company Profile

(Free Report)

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.

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