Global Wealth Management Investment Advisory Inc. Buys 412 Shares of Prologis, Inc. (NYSE:PLD)

Global Wealth Management Investment Advisory Inc. lifted its position in Prologis, Inc. (NYSE:PLD) by 7.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,944 shares of the real estate investment trust’s stock after purchasing an additional 412 shares during the quarter. Global Wealth Management Investment Advisory Inc.’s holdings in Prologis were worth $665,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Aviva PLC increased its position in shares of Prologis by 36.6% during the 4th quarter. Aviva PLC now owns 695,187 shares of the real estate investment trust’s stock valued at $73,481,000 after purchasing an additional 186,187 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Prologis by 29.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 784,360 shares of the real estate investment trust’s stock valued at $82,907,000 after purchasing an additional 179,880 shares in the last quarter. Allstate Corp boosted its holdings in shares of Prologis by 111.7% during the 4th quarter. Allstate Corp now owns 74,518 shares of the real estate investment trust’s stock valued at $7,877,000 after buying an additional 39,321 shares in the last quarter. First Citizens Bank & Trust Co. boosted its stake in Prologis by 1,451.2% during the first quarter. First Citizens Bank & Trust Co. now owns 31,180 shares of the real estate investment trust’s stock worth $3,486,000 after acquiring an additional 29,170 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC grew its stake in shares of Prologis by 3.1% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 5,506 shares of the real estate investment trust’s stock worth $615,000 after buying an additional 167 shares during the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PLD. BMO Capital Markets cut their price objective on shares of Prologis from $105.00 to $95.00 and set an “outperform” rating on the stock in a research report on Monday, April 14th. Wall Street Zen lowered shares of Prologis from a “hold” rating to a “sell” rating in a research report on Saturday, June 14th. Wells Fargo & Company decreased their target price on Prologis from $146.00 to $119.00 and set an “overweight” rating on the stock in a report on Monday, May 19th. Wolfe Research cut shares of Prologis from an “outperform” rating to a “peer perform” rating in a research note on Monday, April 21st. Finally, Scotiabank boosted their price objective on Prologis from $97.00 to $100.00 and gave the company a “sector underperform” rating in a research report on Monday, May 12th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $120.42.

Prologis Stock Down 0.3%

NYSE PLD opened at $108.03 on Friday. The company has a fifty day moving average of $106.70 and a two-hundred day moving average of $109.39. The firm has a market capitalization of $100.24 billion, a price-to-earnings ratio of 27.01, a PEG ratio of 2.75 and a beta of 1.23. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.56. Prologis, Inc. has a 52 week low of $85.35 and a 52 week high of $132.57.

Prologis (NYSE:PLD) last issued its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.04. The firm had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.99 billion. Prologis had a return on equity of 6.45% and a net margin of 44.59%. On average, analysts predict that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Tuesday, June 17th were paid a $1.01 dividend. The ex-dividend date of this dividend was Tuesday, June 17th. This represents a $4.04 annualized dividend and a yield of 3.74%. Prologis’s dividend payout ratio (DPR) is currently 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.