Global Wealth Management Investment Advisory Inc. Acquires 430 Shares of Prologis, Inc. (NYSE:PLD)

Global Wealth Management Investment Advisory Inc. boosted its stake in shares of Prologis, Inc. (NYSE:PLD) by 10.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,416 shares of the real estate investment trust’s stock after purchasing an additional 430 shares during the period. Global Wealth Management Investment Advisory Inc.’s holdings in Prologis were worth $558,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Norden Group LLC raised its stake in Prologis by 15.3% during the 1st quarter. Norden Group LLC now owns 5,008 shares of the real estate investment trust’s stock valued at $652,000 after purchasing an additional 664 shares during the period. Central Pacific Bank Trust Division bought a new position in Prologis during the first quarter valued at $203,000. Proficio Capital Partners LLC lifted its holdings in shares of Prologis by 5.1% in the 1st quarter. Proficio Capital Partners LLC now owns 3,090 shares of the real estate investment trust’s stock valued at $402,000 after acquiring an additional 151 shares during the last quarter. United Community Bank grew its position in Prologis by 1,091.1% in the first quarter. United Community Bank now owns 1,203 shares of the real estate investment trust’s stock worth $157,000 after acquiring an additional 1,102 shares in the last quarter. Finally, GSA Capital Partners LLP bought a new stake in Prologis during the first quarter worth approximately $1,172,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. The Goldman Sachs Group reiterated a “neutral” rating and issued a $132.00 target price (down previously from $142.00) on shares of Prologis in a report on Monday, October 21st. Bank of America reissued a “neutral” rating and issued a $128.00 price objective on shares of Prologis in a research report on Monday, August 12th. JPMorgan Chase & Co. decreased their price target on Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. Royal Bank of Canada downgraded Prologis from an “outperform” rating to a “sector perform” rating and upped their price objective for the company from $124.00 to $127.00 in a research report on Monday, August 5th. Finally, Wells Fargo & Company upped their target price on shares of Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 28th. Eight investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $131.12.

Insider Buying and Selling

In other news, CIO Joseph Ghazal sold 5,200 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $129.07, for a total transaction of $671,164.00. Following the completion of the transaction, the executive now directly owns 13,187 shares of the company’s stock, valued at approximately $1,702,046.09. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.56% of the stock is owned by insiders.

Prologis Stock Down 0.5 %

Shares of NYSE:PLD traded down $0.53 during trading on Tuesday, reaching $113.33. The stock had a trading volume of 107,840 shares, compared to its average volume of 3,632,539. The company has a market capitalization of $104.96 billion, a P/E ratio of 34.40, a PEG ratio of 2.97 and a beta of 1.08. Prologis, Inc. has a one year low of $101.11 and a one year high of $137.52. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56. The firm’s 50-day simple moving average is $123.71 and its 200 day simple moving average is $117.47.

Prologis (NYSE:PLD) last posted its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.29). Prologis had a net margin of 39.08% and a return on equity of 5.34%. The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. During the same period in the previous year, the company posted $1.30 earnings per share. Prologis’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, research analysts expect that Prologis, Inc. will post 5.45 EPS for the current fiscal year.

Prologis Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date of this dividend was Monday, September 16th. Prologis’s dividend payout ratio (DPR) is 116.01%.

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.