GC Wealth Management RIA LLC Sells 3,118 Shares of Prologis, Inc. (NYSE:PLD)

GC Wealth Management RIA LLC reduced its position in Prologis, Inc. (NYSE:PLD - Free Report) by 18.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,914 shares of the real estate investment trust's stock after selling 3,118 shares during the period. GC Wealth Management RIA LLC's holdings in Prologis were worth $1,471,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Centricity Wealth Management LLC purchased a new position in Prologis during the fourth quarter valued at $30,000. Dunhill Financial LLC raised its holdings in Prologis by 239.5% during the third quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust's stock valued at $33,000 after acquiring an additional 182 shares during the period. Whipplewood Advisors LLC bought a new stake in Prologis during the fourth quarter valued at about $34,000. Promus Capital LLC bought a new stake in Prologis during the fourth quarter valued at about $34,000. Finally, Coastline Trust Co bought a new stake in Prologis during the third quarter valued at about $52,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Prologis

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the business's stock in a transaction that occurred on 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 transaction, the executive now owns 7,977 shares in the company, valued at $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.50% of the company's stock.

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Analysts Set New Price Targets

A number of research firms have commented on PLD. BMO Capital Markets cut Prologis from a "market perform" rating to an "underperform" rating and decreased their price target for the company from $120.00 to $104.00 in a report on Friday, December 6th. UBS Group raised their price target on Prologis from $121.00 to $137.00 and gave the company a "buy" rating in a report on Tuesday, January 28th. Mizuho decreased their price target on Prologis from $119.00 to $117.00 and set a "neutral" rating on the stock in a report on Wednesday, January 8th. Royal Bank of Canada raised their price target on Prologis from $125.00 to $128.00 and gave the company a "sector perform" rating in a report on Monday, January 27th. Finally, Robert W. Baird lifted their target price on Prologis from $123.00 to $124.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $128.78.

Prologis Trading Down 0.4 %

PLD traded down $0.48 on Tuesday, hitting $117.39. The company had a trading volume of 5,521,712 shares, compared to its average volume of 3,886,607. The company has a market cap of $108.81 billion, a PE ratio of 29.35, a PEG ratio of 2.70 and a beta of 1.09. Prologis, Inc. has a 12-month low of $100.82 and a 12-month high of $135.27. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. The business's fifty day simple moving average is $116.45 and its 200 day simple moving average is $117.79.

Prologis Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be given a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 3.44%. The ex-dividend date of this dividend is Tuesday, March 18th. This is a positive change from Prologis's previous quarterly dividend of $0.96. Prologis's payout ratio is 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.