GC Wealth Management RIA LLC Buys 27,077 Shares of Prologis, Inc. $PLD

Key Points

• GC Wealth Management RIA LLC increased its stake in Prologis, Inc. by 188.2% during the second quarter, acquiring an additional 27,077 shares for a total of $4.36 million in holdings.
• The company recently declared a quarterly dividend of $1.01 per share, reflecting an annualized payout of $4.04 and a yield of 3.5%.
• Prologis's recent earnings report showed a revenue increase of 8.8% year-over-year, with earnings per share beating estimates by $0.05.

GC Wealth Management RIA LLC raised its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 188.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 41,466 shares of the real estate investment trust's stock after acquiring an additional 27,077 shares during the period. GC Wealth Management RIA LLC's holdings in Prologis were worth $4,359,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Michael S. Ryan Inc. boosted its stake in Prologis by 2.9% during the second quarter. Michael S. Ryan Inc. now owns 3,311 shares of the real estate investment trust's stock valued at $348,000 after buying an additional 94 shares during the last quarter. LaSalle St. Investment Advisors LLC raised its holdings in shares of Prologis by 3.7% during the 1st quarter. LaSalle St. Investment Advisors LLC now owns 2,688 shares of the real estate investment trust's stock worth $300,000 after acquiring an additional 96 shares in the last quarter. Van Hulzen Asset Management LLC boosted its position in shares of Prologis by 5.6% during the 1st quarter. Van Hulzen Asset Management LLC now owns 1,799 shares of the real estate investment trust's stock valued at $201,000 after acquiring an additional 96 shares during the last quarter. Sandler Capital Management grew its holdings in shares of Prologis by 5.3% in the first quarter. Sandler Capital Management now owns 2,000 shares of the real estate investment trust's stock valued at $224,000 after purchasing an additional 100 shares in the last quarter. Finally, Sunflower Bank N.A. grew its holdings in shares of Prologis by 3.9% in the second quarter. Sunflower Bank N.A. now owns 2,697 shares of the real estate investment trust's stock valued at $284,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company's stock.

Insider Activity at Prologis

In other news, Director Cristina Gabriela Bita sold 1,000 shares of Prologis stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $111.00, for a total transaction of $111,000.00. Following the completion of the transaction, the director directly owned 9,829 shares of the company's stock, valued at $1,091,019. The trade was a 9.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Lori A. Palazzolo sold 25,000 shares of Prologis stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $111.33, for a total value of $2,783,250.00. Following the completion of the transaction, the chief accounting officer owned 414 shares of the company's stock, valued at approximately $46,090.62. This represents a 98.37% decrease in their position. The disclosure for this sale can be found here. 0.57% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on PLD shares. Scotiabank set a $114.00 price target on shares of Prologis and gave the company a "sector perform" rating in a research note on Wednesday, August 27th. Evercore ISI upped their target price on shares of Prologis from $111.00 to $113.00 and gave the company an "in-line" rating in a research report on Monday, September 15th. Citigroup dropped their price target on Prologis from $150.00 to $140.00 and set a "buy" rating for the company in a research report on Wednesday, July 23rd. Wall Street Zen cut Prologis from a "hold" rating to a "sell" rating in a research note on Saturday, June 14th. Finally, UBS Group raised their price objective on Prologis from $106.00 to $120.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $122.58.

Prologis Stock Performance

NYSE PLD opened at $114.27 on Monday. The stock has a 50-day simple moving average of $110.41 and a two-hundred day simple moving average of $107.46. The firm has a market capitalization of $106.07 billion, a P/E ratio of 30.97, a PEG ratio of 2.88 and a beta of 1.26. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two week high of $127.65. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.65 and a current ratio of 0.65.

Prologis (NYSE:PLD - Get Free Report) last released its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share for the quarter, beating analysts' consensus estimates of $1.41 by $0.05. The business had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.03 billion. Prologis had a return on equity of 5.96% and a net margin of 40.29%.The company's revenue was up 8.8% on a year-over-year basis. During the same quarter last year, the business posted $1.34 EPS. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. On average, equities analysts forecast that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be given a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 3.5%. The ex-dividend date is Tuesday, September 16th. Prologis's dividend payout ratio (DPR) is currently 109.49%.

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.

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