GC Wealth Management RIA LLC Boosts Stock Position in Prologis, Inc. $PLD

GC Wealth Management RIA LLC grew its stake in Prologis, Inc. (NYSE:PLD) by 188.2% in the second quarter, Holdings Channel.com reports. The firm owned 41,466 shares of the real estate investment trust’s stock after acquiring an additional 27,077 shares during the quarter. GC Wealth Management RIA LLC’s holdings in Prologis were worth $4,359,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in PLD. Activest Wealth Management grew its holdings in Prologis by 637.1% in the 1st quarter. Activest Wealth Management now owns 258 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 223 shares in the last quarter. Pandora Wealth Inc. purchased a new position in Prologis during the first quarter worth about $34,000. GKV Capital Management Co. Inc. purchased a new position in shares of Prologis during the 1st quarter worth approximately $34,000. Saudi Central Bank purchased a new position in shares of Prologis during the first quarter worth $41,000. Finally, Olde Wealth Management LLC purchased a new position in shares of Prologis during the first quarter worth $43,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Cristina Gabriela Bita sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $111.00, for a total value of $111,000.00. Following the completion of the transaction, the director directly owned 9,829 shares of the company’s stock, valued at $1,091,019. This represents a 9.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Lori A. Palazzolo sold 25,000 shares of the company’s 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 completion of the transaction, the chief accounting officer directly owned 414 shares of the company’s stock, valued at $46,090.62. This trade represents a 98.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.57% of the company’s stock.

Prologis Trading Up 0.9%

NYSE PLD opened at $114.27 on Monday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.61. Prologis, Inc. has a 52 week low of $85.35 and a 52 week high of $127.65. The stock has a market capitalization of $106.07 billion, a PE ratio of 30.97, a price-to-earnings-growth ratio of 2.88 and a beta of 1.26. The firm has a 50 day moving average of $110.41 and a two-hundred day moving average of $107.46.

Prologis (NYSE:PLD) last issued its earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.05. The firm had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.03 billion. Prologis had a net margin of 40.29% and a return on equity of 5.96%. The company’s revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.34 earnings per share. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. As a group, research analysts expect that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be given a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Tuesday, September 16th. Prologis’s dividend payout ratio is currently 109.49%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on PLD shares. Bank of America upgraded Prologis from a “neutral” rating to a “buy” rating and raised their price target for the stock from $118.00 to $130.00 in a research report on Tuesday, September 16th. UBS Group raised their target price on Prologis from $106.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, July 8th. Wall Street Zen lowered shares of Prologis from a “hold” rating to a “sell” rating in a research note on Saturday, June 14th. Mizuho set a $118.00 price objective on shares of Prologis and gave the company an “outperform” rating in a research note on Tuesday, August 19th. Finally, Scotiabank set a $114.00 price objective on shares of Prologis and gave the company a “sector perform” rating in a research note on Wednesday, August 27th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, Prologis currently has an average rating of “Moderate Buy” and an average target price of $122.58.

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.