MQS Management LLC Sells 2,614 Shares of Prologis, Inc. $PLD

MQS Management LLC lessened its holdings in shares of Prologis, Inc. (NYSE:PLD) by 32.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,430 shares of the real estate investment trust’s stock after selling 2,614 shares during the quarter. MQS Management LLC’s holdings in Prologis were worth $571,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PLD. Brighton Jones LLC raised its holdings in shares of Prologis by 629.0% during the fourth quarter. Brighton Jones LLC now owns 17,475 shares of the real estate investment trust’s stock valued at $1,847,000 after acquiring an additional 15,078 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Prologis by 19.6% during the first quarter. GAMMA Investing LLC now owns 11,926 shares of the real estate investment trust’s stock valued at $1,333,000 after acquiring an additional 1,956 shares in the last quarter. Golden State Wealth Management LLC raised its holdings in shares of Prologis by 157.0% during the first quarter. Golden State Wealth Management LLC now owns 2,421 shares of the real estate investment trust’s stock valued at $271,000 after acquiring an additional 1,479 shares in the last quarter. Perigon Wealth Management LLC raised its holdings in shares of Prologis by 2.6% during the first quarter. Perigon Wealth Management LLC now owns 8,018 shares of the real estate investment trust’s stock valued at $896,000 after acquiring an additional 206 shares in the last quarter. Finally, Sequoia Financial Advisors LLC raised its holdings in shares of Prologis by 12.2% during the first quarter. Sequoia Financial Advisors LLC now owns 13,813 shares of the real estate investment trust’s stock valued at $1,544,000 after acquiring an additional 1,500 shares in the last quarter. Institutional investors own 93.50% of the company’s stock.

Prologis Trading Up 0.7%

NYSE PLD opened at $126.60 on Friday. Prologis, Inc. has a 12 month low of $85.35 and a 12 month high of $127.50. The stock has a market cap of $117.57 billion, a P/E ratio of 36.91, a P/E/G ratio of 3.20 and a beta of 1.28. The stock’s fifty day moving average price is $115.20 and its 200-day moving average price is $109.13. The company has a current ratio of 0.20, a quick ratio of 0.65 and a debt-to-equity ratio of 0.62.

Prologis (NYSE:PLD) last released its earnings results on Wednesday, October 15th. The real estate investment trust reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.05. Prologis had a return on equity of 5.55% and a net margin of 36.71%.The firm had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the prior year, the firm posted $1.43 earnings per share. The company’s quarterly revenue was up 8.6% on a year-over-year basis. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. As a group, equities analysts forecast that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were given a dividend of $1.01 per share. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $4.04 annualized dividend and a dividend yield of 3.2%. Prologis’s dividend payout ratio (DPR) is 117.78%.

Insider Buying and Selling at Prologis

In related news, Director Cristina Gabriela Bita sold 500 shares of the stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $115.69, for a total transaction of $57,845.00. Following the sale, the director directly owned 9,329 shares of the company’s stock, valued at $1,079,272.01. This trade represents a 5.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Lori A. Palazzolo sold 25,000 shares of the stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $111.33, for a total value of $2,783,250.00. Following the sale, the chief accounting officer directly owned 414 shares in the company, valued at $46,090.62. This trade represents a 98.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,500 shares of company stock worth $2,952,095 over the last ninety days. 0.57% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Evercore ISI upped their target price on Prologis from $113.00 to $116.00 and gave the company an “in-line” rating in a report on Thursday, October 16th. Industrial Alliance Securities set a $119.00 price target on Prologis in a research note on Monday, October 20th. Scotiabank set a $114.00 price target on Prologis and gave the stock a “sector perform” rating in a research note on Wednesday, August 27th. Barclays reduced their price target on Prologis from $119.00 to $118.00 and set an “overweight” rating on the stock in a research note on Monday, September 15th. Finally, Bank of America raised Prologis from a “neutral” rating to a “buy” rating and upped their price target for the stock from $118.00 to $130.00 in a research note on Tuesday, September 16th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $124.44.

About Prologis

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.