MQS Management LLC Invests $899,000 in Prologis, Inc. (NYSE:PLD)

MQS Management LLC purchased a new position in Prologis, Inc. (NYSE:PLD - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 8,044 shares of the real estate investment trust's stock, valued at approximately $899,000. Prologis comprises 0.5% of MQS Management LLC's portfolio, making the stock its 21st biggest holding.

A number of other hedge funds have also modified their holdings of PLD. Prudent Man Advisors LLC increased its position in Prologis by 10.0% during the first quarter. Prudent Man Advisors LLC now owns 20,225 shares of the real estate investment trust's stock worth $2,261,000 after buying an additional 1,832 shares during the last quarter. CWM LLC boosted its holdings in Prologis by 18.5% during the first quarter. CWM LLC now owns 27,596 shares of the real estate investment trust's stock valued at $3,085,000 after acquiring an additional 4,313 shares during the period. TFR Capital LLC. bought a new stake in Prologis during the first quarter valued at about $391,000. Hughes Financial Services LLC bought a new stake in Prologis during the first quarter valued at about $99,000. Finally, Pittenger & Anderson Inc. boosted its holdings in Prologis by 138.1% during the first quarter. Pittenger & Anderson Inc. now owns 431 shares of the real estate investment trust's stock valued at $48,000 after acquiring an additional 250 shares during the period. 93.50% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have issued reports on PLD shares. BMO Capital Markets decreased their price target on shares of Prologis from $105.00 to $95.00 and set an "outperform" rating for the company in a report on Monday, April 14th. Morgan Stanley decreased their price target on shares of Prologis to $120.00 and set an "outperform" rating for the company in a report on Monday, April 14th. Mizuho decreased their price target on shares of Prologis from $117.00 to $105.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Wells Fargo & Company decreased their price target on shares of Prologis from $146.00 to $119.00 and set an "overweight" rating for the company in a report on Monday, May 19th. Finally, Wolfe Research lowered shares of Prologis from an "outperform" rating to a "peer perform" rating in a research report on Monday, April 21st. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $119.53.

Prologis Trading Up 0.6%

Shares of NYSE PLD opened at $109.05 on Friday. The company's fifty day moving average is $107.21 and its 200-day moving average is $109.56. The stock has a market cap of $101.19 billion, a price-to-earnings ratio of 27.26, a P/E/G ratio of 2.77 and a beta of 1.23. Prologis, Inc. has a twelve month low of $85.35 and a twelve month high of $132.57. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.56.

Prologis (NYSE:PLD - Get Free Report) last announced its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share for the quarter, topping analysts' consensus estimates of $1.38 by $0.04. The company had revenue of $1.99 billion for the quarter, compared to analysts' expectations of $1.99 billion. Prologis had a net margin of 44.59% and a return on equity of 6.45%. Equities research analysts predict that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Tuesday, June 17th were given a $1.01 dividend. The ex-dividend date was Tuesday, June 17th. This represents a $4.04 annualized dividend and a yield of 3.70%. Prologis's dividend payout ratio is currently 101.00%.

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.

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