GDS Wealth Management Sells 151 Shares of Prologis, Inc. (NYSE:PLD)

GDS Wealth Management trimmed its position in shares of Prologis, Inc. (NYSE:PLD) by 4.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,981 shares of the real estate investment trust’s stock after selling 151 shares during the quarter. GDS Wealth Management’s holdings in Prologis were worth $335,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Optimum Investment Advisors acquired a new stake in shares of Prologis in the 1st quarter valued at $26,000. American Capital Advisory LLC bought a new stake in Prologis in the 2nd quarter valued at approximately $26,000. True Wealth Design LLC acquired a new position in Prologis during the fourth quarter worth $27,000. Central Valley Advisors LLC bought a new position in shares of Prologis in the 2nd quarter valued at about $29,000. Finally, Wetzel Investment Advisors Inc. acquired a new position in Prologis during the second quarter valued at approximately $31,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Trading Down 0.6 %

NYSE PLD opened at $129.25 on Tuesday. Prologis, Inc. has a one year low of $96.64 and a one year high of $137.52. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.36 and a quick ratio of 0.36. The business has a 50 day simple moving average of $124.72 and a 200 day simple moving average of $118.72. The stock has a market capitalization of $119.67 billion, a P/E ratio of 37.79, a P/E/G ratio of 3.36 and a beta of 1.07.

Prologis (NYSE:PLD) last released its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share for the quarter, missing the consensus estimate of $1.33 by ($0.41). The company had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.86 billion. Prologis had a net margin of 36.37% and a return on equity of 4.88%. The business’s revenue was down 18.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.83 EPS. Research analysts expect that Prologis, Inc. will post 5.42 earnings per share for the current year.

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a dividend of $0.96 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 2.97%. Prologis’s dividend payout ratio (DPR) is presently 112.28%.

Insider Activity

In related news, CIO Joseph Ghazal sold 5,200 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $129.07, for a total transaction of $671,164.00. Following the transaction, the executive now directly owns 13,187 shares of the company’s stock, valued at approximately $1,702,046.09. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

PLD has been the subject of several research analyst reports. Mizuho reduced their target price on shares of Prologis from $130.00 to $120.00 and set a “neutral” rating for the company in a report on Friday, May 31st. Wells Fargo & Company lifted their price objective on Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a report on Wednesday, August 28th. Evercore ISI raised their price target on Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a research report on Monday. Truist Financial upped their price target on shares of Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Finally, The Goldman Sachs Group raised their price objective on Prologis from $140.00 to $156.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Seven equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $133.35.

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.