Amalgamated Bank Has $20.99 Million Stake in Prologis, Inc. (NYSE:PLD)

Amalgamated Bank decreased its stake in shares of Prologis, Inc. (NYSE:PLD) by 2.7% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 186,888 shares of the real estate investment trust’s stock after selling 5,125 shares during the period. Amalgamated Bank’s holdings in Prologis were worth $20,989,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Valeo Financial Advisors LLC grew its position in Prologis by 182,067.2% in the 1st quarter. Valeo Financial Advisors LLC now owns 48,877,279 shares of the real estate investment trust’s stock valued at $6,364,799,000 after purchasing an additional 48,850,448 shares during the period. Capital World Investors grew its position in Prologis by 1,252.9% in the 4th quarter. Capital World Investors now owns 7,305,582 shares of the real estate investment trust’s stock valued at $973,834,000 after purchasing an additional 6,765,582 shares during the period. Swedbank AB acquired a new stake in Prologis in the 1st quarter valued at $596,614,000. Alphinity Investment Management Pty Ltd acquired a new stake in Prologis in the 1st quarter valued at $465,659,000. Finally, Vanguard Group Inc. grew its position in Prologis by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 120,945,384 shares of the real estate investment trust’s stock valued at $15,749,508,000 after purchasing an additional 1,460,229 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Price Performance

Shares of Prologis stock opened at $128.91 on Wednesday. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.52. The company has a market cap of $119.35 billion, a PE ratio of 37.69, a P/E/G ratio of 3.36 and a beta of 1.07. The business has a 50 day moving average of $125.00 and a 200 day moving average of $118.68. Prologis, Inc. has a 52 week low of $96.64 and a 52 week high of $137.52.

Prologis (NYSE:PLD) last released its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 EPS for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.41). Prologis had a return on equity of 4.88% and a net margin of 36.37%. The company had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same period in the prior year, the company posted $1.83 earnings per share. The company’s revenue was down 18.1% on a year-over-year basis. As a group, equities research analysts forecast that Prologis, Inc. will post 5.42 earnings per share for the current year.

Prologis Announces Dividend

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

Insiders Place Their Bets

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the firm’s stock in a transaction dated 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on PLD shares. StockNews.com raised shares of Prologis from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. The Goldman Sachs Group lifted their price objective on shares of Prologis from $140.00 to $156.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. BMO Capital Markets reaffirmed a “market perform” rating and set a $115.00 price objective on shares of Prologis in a report on Monday, July 15th. Bank of America reaffirmed a “neutral” rating and set a $128.00 price objective on shares of Prologis in a report on Monday, August 12th. Finally, Mizuho cut their price objective on shares of Prologis from $130.00 to $120.00 and set a “neutral” rating on the stock in a report on Friday, May 31st. Seven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Prologis presently has an average rating of “Moderate Buy” and a consensus target price of $133.35.

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.