Global Wealth Management Investment Advisory Inc. Acquires 733 Shares of Prologis, Inc. $PLD

Global Wealth Management Investment Advisory Inc. increased its stake in Prologis, Inc. (NYSE:PLD) by 12.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,677 shares of the real estate investment trust’s stock after purchasing an additional 733 shares during the quarter. Global Wealth Management Investment Advisory Inc.’s holdings in Prologis were worth $702,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Jump Financial LLC purchased a new stake in Prologis in the 1st quarter worth $2,120,000. Ally Financial Inc. boosted its stake in shares of Prologis by 16.7% in the first quarter. Ally Financial Inc. now owns 28,000 shares of the real estate investment trust’s stock worth $3,130,000 after acquiring an additional 4,000 shares during the period. Inspire Investing LLC boosted its stake in shares of Prologis by 9.0% in the first quarter. Inspire Investing LLC now owns 90,605 shares of the real estate investment trust’s stock worth $10,129,000 after acquiring an additional 7,518 shares during the period. Zurich Insurance Group Ltd FI purchased a new stake in shares of Prologis during the first quarter worth about $21,792,000. Finally, Texas Capital Bank Wealth Management Services Inc raised its stake in Prologis by 14.3% during the 1st quarter. Texas Capital Bank Wealth Management Services Inc now owns 67,794 shares of the real estate investment trust’s stock valued at $7,579,000 after purchasing an additional 8,470 shares during the period. Institutional investors own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Weiss Ratings restated a “hold (c)” rating on shares of Prologis in a research note on Wednesday, October 8th. Wells Fargo & Company boosted their target price on shares of Prologis from $120.00 to $139.00 and gave the stock an “overweight” rating in a report on Monday, October 27th. Bank of America raised shares of Prologis from a “neutral” rating to a “buy” rating and raised their target price for the company from $118.00 to $130.00 in a research note on Tuesday, September 16th. Citigroup reduced their price target on shares of Prologis from $150.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, July 23rd. Finally, Industrial Alliance Securities set a $119.00 price objective on shares of Prologis in a report on Monday, October 20th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $124.56.

Prologis Price Performance

PLD stock opened at $125.57 on Friday. Prologis, Inc. has a 52 week low of $85.35 and a 52 week high of $127.50. The firm has a market capitalization of $116.64 billion, a P/E ratio of 36.61, a price-to-earnings-growth ratio of 3.13 and a beta of 1.29. The company has a fifty day simple moving average of $117.94 and a two-hundred day simple moving average of $111.01. The company has a quick ratio of 0.65, a current ratio of 0.64 and a debt-to-equity ratio of 0.62.

Prologis (NYSE:PLD) last posted its earnings results on Wednesday, October 15th. The real estate investment trust reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.05. Prologis had a net margin of 36.71% and a return on equity of 5.55%. The firm had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the previous year, the firm posted $1.43 EPS. The business’s quarterly revenue was up 8.6% on a year-over-year basis. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. Analysts anticipate that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were paid a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend was Tuesday, September 16th. Prologis’s dividend payout ratio (DPR) is presently 117.78%.

Insider Buying and Selling

In other Prologis news, CAO Lori A. Palazzolo sold 25,000 shares of Prologis stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $111.33, for a total transaction 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. The trade was a 98.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Cristina Gabriela Bita sold 1,000 shares of the business’s stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $111.00, for a total transaction of $111,000.00. Following the transaction, the director owned 9,829 shares in the company, valued at $1,091,019. This trade represents a 9.23% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 27,000 shares of company stock valued at $3,013,665. Company insiders own 0.57% 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.