Global Wealth Management Investment Advisory Inc. Increases Stock Position in Prologis, Inc. $PLD

Global Wealth Management Investment Advisory Inc. boosted its position in Prologis, Inc. (NYSE:PLD) by 12.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,677 shares of the real estate investment trust’s stock after acquiring an additional 733 shares during the period. Global Wealth Management Investment Advisory Inc.’s holdings in Prologis were worth $702,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of PLD. Brighton Jones LLC increased its holdings in Prologis by 629.0% during the 4th quarter. Brighton Jones LLC now owns 17,475 shares of the real estate investment trust’s stock valued at $1,847,000 after purchasing an additional 15,078 shares during the period. Rehmann Capital Advisory Group increased its stake in shares of Prologis by 23.2% during the first quarter. Rehmann Capital Advisory Group now owns 2,551 shares of the real estate investment trust’s stock valued at $285,000 after buying an additional 480 shares during the period. Alps Advisors Inc. raised its holdings in shares of Prologis by 87.3% during the first quarter. Alps Advisors Inc. now owns 3,809 shares of the real estate investment trust’s stock valued at $426,000 after acquiring an additional 1,775 shares in the last quarter. Cerity Partners LLC lifted its stake in Prologis by 2.1% in the first quarter. Cerity Partners LLC now owns 202,671 shares of the real estate investment trust’s stock worth $22,657,000 after acquiring an additional 4,151 shares during the period. Finally, Applied Capital LLC FL purchased a new stake in Prologis in the first quarter worth $334,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Insider Buying and Selling

In related news, Director Cristina Gabriela Bita sold 500 shares of Prologis stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $123.14, for a total value of $61,570.00. Following the completion of the sale, the director owned 8,829 shares of the company’s stock, valued at $1,087,203.06. The trade was a 5.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Lori A. Palazzolo sold 25,000 shares of the stock in a transaction dated 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 in the company, valued at approximately $46,090.62. This represents a 98.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 27,000 shares of company stock valued at $3,013,665. 0.57% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. UBS Group set a $137.00 price objective on shares of Prologis and gave the stock a “buy” rating in a report on Tuesday, October 21st. Bank of America raised shares of Prologis from a “neutral” rating to a “buy” rating and increased their price target for the stock from $118.00 to $130.00 in a research note on Tuesday, September 16th. Scotiabank set a $114.00 price objective on Prologis and gave the company a “sector perform” rating in a research report on Wednesday, August 27th. Barclays reduced their target price on Prologis from $119.00 to $118.00 and set an “overweight” rating on the stock in a report on Monday, September 15th. Finally, Truist Financial restated a “buy” rating and issued a $131.00 target price (up previously from $120.00) on shares of Prologis in a research note on Monday, October 20th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $124.56.

Prologis Price Performance

Shares of NYSE PLD opened at $125.57 on Friday. The company has a 50 day simple moving average of $117.94 and a two-hundred day simple moving average of $111.01. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two week high of $127.50. The company has a market capitalization of $116.64 billion, a price-to-earnings ratio of 36.61, a P/E/G ratio of 3.13 and a beta of 1.29. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.65 and a current ratio of 0.64.

Prologis (NYSE:PLD) last posted its quarterly earnings results on Wednesday, October 15th. The real estate investment trust reported $1.49 EPS for the quarter, beating 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 analysts’ expectations of $2.03 billion. During the same quarter in the prior year, the company posted $1.43 earnings per share. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. Analysts expect that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were given a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend was Tuesday, September 16th. Prologis’s payout ratio is 117.78%.

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.