Mutual of America Capital Management LLC Reduces Holdings in Prologis, Inc. (NYSE:PLD)

Mutual of America Capital Management LLC lowered its position in Prologis, Inc. (NYSE:PLD) by 2.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 114,012 shares of the real estate investment trust’s stock after selling 2,755 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Prologis were worth $14,397,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Swedbank AB raised its position in shares of Prologis by 9.2% in the second quarter. Swedbank AB now owns 5,002,274 shares of the real estate investment trust’s stock valued at $561,805,000 after purchasing an additional 420,687 shares during the period. Envestnet Portfolio Solutions Inc. grew its stake in Prologis by 36.1% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 162,990 shares of the real estate investment trust’s stock valued at $18,305,000 after buying an additional 43,235 shares in the last quarter. Sunflower Bank N.A. purchased a new position in Prologis in the 3rd quarter valued at approximately $249,000. Cetera Advisors LLC raised its holdings in Prologis by 118.7% during the 1st quarter. Cetera Advisors LLC now owns 37,992 shares of the real estate investment trust’s stock valued at $4,947,000 after acquiring an additional 20,623 shares during the period. Finally, Intech Investment Management LLC lifted its position in shares of Prologis by 143.1% during the first quarter. Intech Investment Management LLC now owns 26,843 shares of the real estate investment trust’s stock worth $3,495,000 after acquiring an additional 15,802 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PLD. Morgan Stanley lifted their price target on Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. Argus lifted their target price on Prologis from $120.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Truist Financial increased their price target on shares of Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Scotiabank cut their price objective on shares of Prologis from $142.00 to $136.00 and set a “sector outperform” rating for the company in a research report on Friday, October 25th. Finally, Wells Fargo & Company upped their target price on shares of Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a report on Wednesday, August 28th. Eight analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $131.12.

Prologis Price Performance

PLD opened at $113.42 on Friday. The stock has a market capitalization of $105.05 billion, a P/E ratio of 34.27, a PEG ratio of 3.06 and a beta of 1.08. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56. Prologis, Inc. has a 12-month low of $101.11 and a 12-month high of $137.52. The stock has a 50-day moving average price of $121.34 and a 200-day moving average price of $118.05.

Prologis (NYSE:PLD) last issued its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. Prologis had a net margin of 39.08% and a return on equity of 5.34%. The firm’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.30 earnings per share. Equities analysts predict that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 3.39%. The ex-dividend date was Monday, September 16th. Prologis’s dividend payout ratio is presently 116.01%.

Insider Buying and Selling at Prologis

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of Prologis stock in a transaction that occurred 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 transaction, the executive now directly owns 13,187 shares of the company’s stock, valued at $1,702,046.09. The trade was a 28.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.50% of the company’s stock.

Prologis 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.