GDS Wealth Management Sells 151 Shares of Prologis, Inc. (NYSE:PLD)

GDS Wealth Management cut its stake in shares of Prologis, Inc. (NYSE:PLD) by 4.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,981 shares of the real estate investment trust’s stock after selling 151 shares during the period. GDS Wealth Management’s holdings in Prologis were worth $335,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Valeo Financial Advisors LLC boosted its holdings in Prologis by 182,067.2% during the first quarter. Valeo Financial Advisors LLC now owns 48,877,279 shares of the real estate investment trust’s stock worth $6,364,799,000 after purchasing an additional 48,850,448 shares during the last quarter. Capital World Investors boosted its stake in shares of Prologis by 1,252.9% in the 4th quarter. Capital World Investors now owns 7,305,582 shares of the real estate investment trust’s stock worth $973,834,000 after buying an additional 6,765,582 shares during the last quarter. Swedbank AB bought a new position in shares of Prologis in the first quarter valued at approximately $596,614,000. Alphinity Investment Management Pty Ltd purchased a new stake in shares of Prologis during the first quarter valued at approximately $465,659,000. Finally, Vanguard Group Inc. lifted its holdings in Prologis by 1.2% during the first quarter. Vanguard Group Inc. now owns 120,945,384 shares of the real estate investment trust’s stock worth $15,749,508,000 after acquiring an additional 1,460,229 shares during the period. 93.50% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Prologis

In other news, CIO Joseph Ghazal sold 5,200 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $129.07, for a total transaction of $671,164.00. Following the completion of the transaction, the executive now directly owns 13,187 shares in the company, valued at approximately $1,702,046.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.50% of the company’s stock.

Prologis Price Performance

Shares of NYSE PLD opened at $129.25 on Tuesday. The stock has a fifty day moving average of $124.72 and a 200-day moving average of $118.72. The stock has a market cap of $119.67 billion, a PE ratio of 37.79, a price-to-earnings-growth ratio of 3.36 and a beta of 1.07. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.36 and a current ratio of 0.36. Prologis, Inc. has a fifty-two week low of $96.64 and a fifty-two week high of $137.52.

Prologis (NYSE:PLD) last posted its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.41). Prologis had a net margin of 36.37% and a return on equity of 4.88%. The company had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same period in the previous year, the firm earned $1.83 EPS. The firm’s quarterly revenue was down 18.1% compared to the same quarter last year. Equities research analysts anticipate that Prologis, Inc. will post 5.42 earnings per share for the current year.

Prologis Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 2.97%. The ex-dividend date is Monday, September 16th. Prologis’s dividend payout ratio is presently 112.28%.

Analyst Upgrades and Downgrades

PLD has been the subject of several research analyst reports. Scotiabank raised their target price on Prologis from $135.00 to $142.00 and gave the company a “sector outperform” rating in a research report on Monday, August 26th. Barclays raised their price objective on shares of Prologis from $123.00 to $142.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. StockNews.com upgraded shares of Prologis from a “sell” rating to a “hold” rating in a research note on Thursday, July 18th. Royal Bank of Canada lowered shares of Prologis from an “outperform” rating to a “sector perform” rating and raised their price target for the stock from $124.00 to $127.00 in a research note on Monday, August 5th. Finally, Morgan Stanley lifted their price target on shares of Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Seven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $133.35.

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.