GeoWealth Management LLC Cuts Stake in Prologis, Inc. $PLD

GeoWealth Management LLC lowered its stake in shares of Prologis, Inc. (NYSE:PLD) by 10.6% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 44,077 shares of the real estate investment trust’s stock after selling 5,203 shares during the quarter. GeoWealth Management LLC’s holdings in Prologis were worth $4,633,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in PLD. Activest Wealth Management boosted its stake in Prologis by 637.1% in the first quarter. Activest Wealth Management now owns 258 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 223 shares during the last quarter. Pandora Wealth Inc. bought a new stake in shares of Prologis in the 1st quarter worth approximately $34,000. GKV Capital Management Co. Inc. purchased a new position in Prologis in the first quarter valued at approximately $34,000. Saudi Central Bank purchased a new position in Prologis in the first quarter valued at approximately $41,000. Finally, Barrett & Company Inc. bought a new position in Prologis during the second quarter valued at $44,000. Institutional investors own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PLD. Truist Financial reaffirmed a “buy” rating and set a $131.00 price target (up previously from $120.00) on shares of Prologis in a research report on Monday, October 20th. Evercore ISI boosted their price objective on Prologis from $113.00 to $116.00 and gave the company an “in-line” rating in a research note on Thursday, October 16th. Mizuho increased their target price on shares of Prologis from $118.00 to $138.00 and gave the stock an “outperform” rating in a research report on Thursday. Barclays reduced their target price on shares of Prologis from $119.00 to $118.00 and set an “overweight” rating for the company in a research note on Monday, September 15th. Finally, Scotiabank upped their price target on shares of Prologis from $127.00 to $133.00 and gave the company a “sector perform” rating in a research note on Monday, November 10th. 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 stock. According to data from MarketBeat.com, Prologis currently has an average rating of “Moderate Buy” and a consensus price target of $126.78.

Prologis Stock Down 0.8%

PLD stock opened at $128.10 on Friday. The stock has a 50-day simple moving average of $122.76 and a two-hundred day simple moving average of $113.69. Prologis, Inc. has a twelve month low of $85.35 and a twelve month high of $130.45. The firm has a market capitalization of $118.99 billion, a PE ratio of 37.35, a PEG ratio of 3.97 and a beta of 1.40. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.62.

Prologis (NYSE:PLD) last announced its quarterly earnings results on Wednesday, October 15th. The real estate investment trust reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.05. The firm had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.03 billion. Prologis had a net margin of 36.71% and a return on equity of 5.55%. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.43 earnings per share. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. On average, equities analysts predict that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th will be given a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Tuesday, December 16th. Prologis’s payout ratio is 117.78%.

Insider Buying and Selling at Prologis

In related news, Director Cristina Gabriela Bita sold 621 shares of the stock in a transaction on Monday, December 1st. The stock was sold at an average price of $127.60, for a total value of $79,239.60. Following the sale, the director owned 8,208 shares in the company, valued at approximately $1,047,340.80. This trade represents a 7.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 1,621 shares of company stock valued at $198,655 over the last quarter. Corporate insiders own 0.57% of the company’s stock.

About Prologis

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.