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

GC Wealth Management RIA LLC lowered its holdings in shares of Prologis, Inc. (NYSE:PLD) by 18.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Centricity Wealth Management LLC purchased a new position in Prologis during the fourth quarter valued at $30,000. Dunhill Financial LLC increased its stake in Prologis by 239.5% during the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 182 shares in the last quarter. Whipplewood Advisors LLC purchased a new position in Prologis in the fourth quarter worth about $34,000. Promus Capital LLC purchased a new stake in shares of Prologis during the fourth quarter valued at approximately $34,000. Finally, Coastline Trust Co bought a new stake in shares of Prologis during the third quarter valued at approximately $52,000. Institutional investors own 93.50% of the company’s stock.

Insider Transactions at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of the business’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total value of $1,305,783.78. Following the sale, the executive now owns 7,977 shares in the company, valued at approximately $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.50% of the company’s stock.

Prologis Trading Down 1.6 %

Shares of Prologis stock opened at $117.97 on Tuesday. 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 firm has a market cap of $109.34 billion, a price-to-earnings ratio of 29.49, a PEG ratio of 2.70 and a beta of 1.09. Prologis, Inc. has a twelve month low of $100.82 and a twelve month high of $135.76. The business has a 50-day moving average price of $116.22 and a 200-day moving average price of $117.87.

Prologis Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be paid a $1.01 dividend. This is an increase from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date is Tuesday, March 18th. This represents a $4.04 dividend on an annualized basis and a yield of 3.42%. Prologis’s payout ratio is presently 101.00%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on PLD shares. Baird R W raised Prologis from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. UBS Group raised their price target on Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. Wolfe Research reduced their price objective on Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. BNP Paribas raised Prologis to a “strong-buy” rating in a research report on Wednesday, January 22nd. Finally, Raymond James restated a “market perform” rating on shares of Prologis in a research note on Monday, February 3rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $128.78.

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.