IMS Capital Management Sells 185 Shares of Prologis, Inc. (NYSE:PLD)

IMS Capital Management lessened its stake in shares of Prologis, Inc. (NYSE:PLD) by 9.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,825 shares of the real estate investment trust’s stock after selling 185 shares during the period. IMS Capital Management’s holdings in Prologis were worth $227,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Gilbert & Cook Inc. boosted its stake in Prologis by 4.4% in the 4th quarter. Gilbert & Cook Inc. now owns 5,487 shares of the real estate investment trust’s stock worth $731,000 after purchasing an additional 233 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in shares of Prologis during the fourth quarter valued at approximately $474,000. The Manufacturers Life Insurance Company raised its holdings in Prologis by 3.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 855,903 shares of the real estate investment trust’s stock worth $114,092,000 after acquiring an additional 28,340 shares during the last quarter. Wellspring Financial Advisors LLC bought a new position in Prologis in the 4th quarter valued at approximately $209,000. Finally, NEOS Investment Management LLC boosted its stake in Prologis by 34.9% during the 4th quarter. NEOS Investment Management LLC now owns 13,064 shares of the real estate investment trust’s stock valued at $1,741,000 after purchasing an additional 3,380 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Trading Up 0.5 %

Shares of PLD stock opened at $126.28 on Tuesday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $116.92 billion, a price-to-earnings ratio of 36.92, a price-to-earnings-growth ratio of 3.25 and a beta of 1.07. Prologis, Inc. has a 12-month low of $96.64 and a 12-month high of $137.52. The stock’s 50-day moving average price is $125.82 and its 200-day moving average price is $118.23.

Prologis (NYSE:PLD) last issued its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.41). Prologis had a return on equity of 4.88% and a net margin of 36.37%. The firm had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same period last year, the company earned $1.83 earnings per share. The firm’s revenue was down 18.1% on a year-over-year basis. Equities research analysts predict that Prologis, Inc. will post 5.42 EPS for the current fiscal year.

Prologis Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a $0.96 dividend. The ex-dividend date was Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.04%. Prologis’s dividend payout ratio (DPR) is presently 112.28%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PLD. Barclays raised their price target on shares of Prologis from $123.00 to $142.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Scotiabank boosted their target price on shares of Prologis from $135.00 to $142.00 and gave the company a “sector outperform” rating in a research note on Monday, August 26th. StockNews.com upgraded Prologis from a “sell” rating to a “hold” rating in a research note on Thursday, July 18th. Bank of America reiterated a “neutral” rating and set a $128.00 price objective on shares of Prologis in a research report on Monday, August 12th. Finally, Evercore ISI raised their target price on Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Seven equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $133.35.

Insider Activity

In related news, CIO Joseph Ghazal sold 5,200 shares of Prologis 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 completion of the transaction, the executive now owns 13,187 shares in the company, valued at $1,702,046.09. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.50% of the company’s stock.

Prologis Company 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.