GC Wealth Management RIA LLC Decreases Stock Position in Prologis, Inc. (NYSE:PLD)

GC Wealth Management RIA LLC trimmed its position in shares of Prologis, Inc. (NYSE:PLD) by 18.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 13,914 shares of the real estate investment trust’s stock after selling 3,118 shares during the quarter. GC Wealth Management RIA LLC’s holdings in Prologis were worth $1,471,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of PLD. Centricity Wealth Management LLC purchased a new position in shares of Prologis during the 4th quarter worth about $30,000. Dunhill Financial LLC lifted its stake in Prologis by 239.5% in the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 182 shares during the last quarter. Whipplewood Advisors LLC bought a new position in shares of Prologis during the fourth quarter valued at approximately $34,000. Promus Capital LLC bought a new position in shares of Prologis during the fourth quarter valued at approximately $34,000. Finally, Coastline Trust Co purchased a new stake in shares of Prologis in the third quarter worth approximately $52,000. Institutional investors own 93.50% of the company’s stock.

Insiders Place Their Bets

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the completion of the sale, the executive now owns 7,977 shares of the company’s stock, valued at approximately $947,188.98. The trade was a 57.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Royal Bank of Canada upped their price objective on Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a research report on Monday, January 27th. Wolfe Research reduced their price target on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. BMO Capital Markets downgraded shares of Prologis from a “market perform” rating to an “underperform” rating and dropped their target price for the stock from $120.00 to $104.00 in a research note on Friday, December 6th. Baird R W raised shares of Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Finally, BNP Paribas upgraded Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $128.78.

Prologis Trading Down 1.6 %

Prologis stock opened at $117.97 on Tuesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. The stock has a market cap of $109.34 billion, a PE ratio of 29.49, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09. The stock has a 50-day moving average of $116.22 and a two-hundred day moving average of $117.87. Prologis, Inc. has a one year low of $100.82 and a one year high of $135.76.

Prologis Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be paid a dividend of $1.01 per share. This is a positive change from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date is Tuesday, March 18th. This represents a $4.04 dividend on an annualized basis and a yield of 3.42%. Prologis’s dividend payout ratio is presently 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.