GeoWealth Management LLC Sells 5,203 Shares of Prologis, Inc. $PLD

GeoWealth Management LLC trimmed its holdings in shares of Prologis, Inc. (NYSE:PLD) by 10.6% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 44,077 shares of the real estate investment trust’s stock after selling 5,203 shares during the period. GeoWealth Management LLC’s holdings in Prologis were worth $4,633,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Stratos Wealth Partners LTD. lifted its position in shares of Prologis by 0.7% during the 2nd quarter. Stratos Wealth Partners LTD. now owns 13,678 shares of the real estate investment trust’s stock valued at $1,438,000 after acquiring an additional 93 shares during the period. Michael S. Ryan Inc. grew its holdings in Prologis by 2.9% in the second quarter. Michael S. Ryan Inc. now owns 3,311 shares of the real estate investment trust’s stock worth $348,000 after purchasing an additional 94 shares during the period. LaSalle St. Investment Advisors LLC increased its stake in Prologis by 3.7% in the first quarter. LaSalle St. Investment Advisors LLC now owns 2,688 shares of the real estate investment trust’s stock valued at $300,000 after purchasing an additional 96 shares in the last quarter. Van Hulzen Asset Management LLC raised its holdings in shares of Prologis by 5.6% during the first quarter. Van Hulzen Asset Management LLC now owns 1,799 shares of the real estate investment trust’s stock valued at $201,000 after purchasing an additional 96 shares during the period. Finally, Palogic Value Management L.P. raised its holdings in shares of Prologis by 4.7% during the second quarter. Palogic Value Management L.P. now owns 2,130 shares of the real estate investment trust’s stock valued at $224,000 after purchasing an additional 96 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on PLD shares. Industrial Alliance Securities set a $119.00 target price on Prologis in a research report on Monday, October 20th. BMO Capital Markets raised Prologis from an “underperform” rating to a “market perform” rating and set a $119.00 price objective for the company in a research note on Monday, October 20th. Bank of America raised Prologis from a “neutral” rating to a “buy” rating and upped their target price for the stock from $118.00 to $130.00 in a research report on Tuesday, September 16th. Wells Fargo & Company increased their target price on Prologis from $120.00 to $139.00 and gave the stock an “overweight” rating in a report on Monday, October 27th. Finally, Evercore ISI boosted their price target on shares of Prologis from $113.00 to $116.00 and gave the company an “in-line” rating in a research note on Thursday, October 16th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, Prologis presently has an average rating of “Moderate Buy” and a consensus target price of $126.78.

Insider Activity at Prologis

In other news, Director Cristina Gabriela Bita sold 621 shares of the business’s stock in a transaction that occurred 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 transaction, the director owned 8,208 shares in the company, valued at $1,047,340.80. The trade was a 7.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last quarter, insiders have sold 1,621 shares of company stock worth $198,655. 0.57% of the stock is owned by company insiders.

Prologis Price Performance

Shares of NYSE:PLD opened at $128.10 on Friday. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.62. The stock has a market cap of $118.99 billion, a PE ratio of 37.35, a price-to-earnings-growth ratio of 3.97 and a beta of 1.40. The stock’s fifty day simple moving average is $122.76 and its two-hundred day simple moving average is $113.69. Prologis, Inc. has a 1-year low of $85.35 and a 1-year high of $130.45.

Prologis (NYSE:PLD) last posted its earnings results on Wednesday, October 15th. The real estate investment trust reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate 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 $2.21 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the prior year, the business posted $1.43 EPS. The business’s revenue was up 8.6% compared to the same quarter last year. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. As a group, analysts forecast that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th will be paid a $1.01 dividend. The ex-dividend date is Tuesday, December 16th. This represents a $4.04 annualized dividend and a yield of 3.2%. Prologis’s dividend payout ratio (DPR) is 117.78%.

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.