G&S Capital LLC Has $1.17 Million Position in Prologis, Inc. (NYSE:PLD)

G&S Capital LLC lessened its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 56.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,456 shares of the real estate investment trust's stock after selling 13,524 shares during the period. G&S Capital LLC's holdings in Prologis were worth $1,169,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in PLD. Essex LLC acquired a new stake in Prologis during the first quarter worth $248,000. Red Door Wealth Management LLC lifted its holdings in shares of Prologis by 13.4% during the 1st quarter. Red Door Wealth Management LLC now owns 42,892 shares of the real estate investment trust's stock worth $4,795,000 after acquiring an additional 5,062 shares during the period. WASHINGTON TRUST Co boosted its position in shares of Prologis by 85.2% during the 1st quarter. WASHINGTON TRUST Co now owns 1,215 shares of the real estate investment trust's stock valued at $136,000 after acquiring an additional 559 shares in the last quarter. Amalgamated Bank increased its stake in Prologis by 1.4% in the first quarter. Amalgamated Bank now owns 179,631 shares of the real estate investment trust's stock valued at $20,081,000 after acquiring an additional 2,400 shares during the period. Finally, BankPlus Wealth Management LLC increased its stake in Prologis by 10.1% in the first quarter. BankPlus Wealth Management LLC now owns 2,792 shares of the real estate investment trust's stock valued at $312,000 after acquiring an additional 255 shares during the period. Institutional investors own 93.50% of the company's stock.

Prologis Trading Down 0.4%

Shares of PLD traded down $0.44 during trading hours on Thursday, hitting $107.87. 185,195 shares of the stock traded hands, compared to its average volume of 4,602,164. The business has a fifty day moving average of $106.61 and a 200-day moving average of $109.40. The firm has a market capitalization of $100.10 billion, a PE ratio of 26.96, a price-to-earnings-growth ratio of 2.70 and a beta of 1.23. Prologis, Inc. has a 1-year low of $85.35 and a 1-year high of $132.57. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.56.

Prologis (NYSE:PLD - Get Free Report) last released its earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.38 by $0.04. Prologis had a net margin of 44.59% and a return on equity of 6.45%. The company had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.99 billion. Analysts expect that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Tuesday, June 17th were issued a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date was Tuesday, June 17th. Prologis's dividend payout ratio is presently 101.00%.

Analyst Ratings Changes

PLD has been the topic of a number of recent research reports. BMO Capital Markets decreased their price objective on Prologis from $105.00 to $95.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. Barclays cut their target price on Prologis from $132.00 to $119.00 and set an "overweight" rating for the company in a research report on Wednesday, April 30th. Truist Financial lowered their price target on Prologis from $123.00 to $120.00 and set a "buy" rating on the stock in a research report on Monday, May 5th. Wall Street Zen cut Prologis from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. Finally, Wolfe Research downgraded shares of Prologis from an "outperform" rating to a "peer perform" rating in a research note on Monday, April 21st. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $120.42.

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.