MQS Management LLC Reduces Position in Prologis, Inc. $PLD

MQS Management LLC cut its holdings in shares of Prologis, Inc. (NYSE:PLD) by 32.5% during the 2nd quarter, HoldingsChannel reports. 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 and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Alley Investment Management Company LLC lifted its holdings in Prologis by 102.8% in the first quarter. Alley Investment Management Company LLC now owns 108,335 shares of the real estate investment trust’s stock valued at $12,111,000 after acquiring an additional 54,914 shares during the period. Jump Financial LLC bought a new position in Prologis in the first quarter valued at about $2,120,000. Truist Financial Corp lifted its holdings in Prologis by 9.3% in the first quarter. Truist Financial Corp now owns 297,270 shares of the real estate investment trust’s stock valued at $33,232,000 after acquiring an additional 25,229 shares during the period. Ally Financial Inc. lifted its holdings in Prologis by 16.7% in the first quarter. Ally Financial Inc. now owns 28,000 shares of the real estate investment trust’s stock valued at $3,130,000 after acquiring an additional 4,000 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Prologis by 2.2% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 297,426 shares of the real estate investment trust’s stock valued at $33,249,000 after acquiring an additional 6,350 shares during the period. Institutional investors own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

PLD has been the topic of a number of recent research reports. Wells Fargo & Company set a $137.00 target price on Prologis and gave the company an “overweight” rating in a report on Sunday, July 13th. Barclays decreased their price objective on Prologis from $119.00 to $118.00 and set an “overweight” rating on the stock in a research note on Monday, September 15th. Scotiabank set a $114.00 price objective on Prologis and gave the stock a “sector perform” rating in a research note on Wednesday, August 27th. BMO Capital Markets raised Prologis from an “underperform” rating to a “market perform” rating and set a $119.00 price objective on the stock in a research note on Monday, October 20th. Finally, Evercore ISI raised their price objective on Prologis from $113.00 to $116.00 and gave the stock an “in-line” rating in a research note on Thursday, October 16th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $124.44.

Prologis Stock Up 0.7%

Shares of PLD opened at $126.60 on Friday. The business’s 50 day moving average is $115.20 and its 200 day moving average is $109.13. The company has a market capitalization of $117.57 billion, a PE ratio of 36.91, a price-to-earnings-growth ratio of 3.20 and a beta of 1.28. Prologis, Inc. has a 12-month low of $85.35 and a 12-month high of $127.50. 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 issued its earnings results on Wednesday, October 15th. The real estate investment trust reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.05. The company had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.03 billion. Prologis had a return on equity of 5.55% and a net margin of 36.71%.The firm’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the company earned $1.43 EPS. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. Research analysts expect that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Dividend Announcement

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

Insider Activity at Prologis

In related news, Director Cristina Gabriela Bita sold 500 shares of Prologis stock in a transaction that occurred 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 owned 9,329 shares of the company’s stock, valued at approximately $1,079,272.01. This trade represents a 5.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Lori A. Palazzolo sold 25,000 shares of Prologis stock in a transaction that occurred 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 26,500 shares of company stock worth $2,952,095 in the last three months. 0.57% of the stock is owned by corporate insiders.

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.