Global Wealth Management Investment Advisory Inc. Grows Stock Holdings in Prologis, Inc. (NYSE:PLD)

Global Wealth Management Investment Advisory Inc. grew its holdings in Prologis, Inc. (NYSE:PLD) by 4.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,619 shares of the real estate investment trust’s stock after acquiring an additional 157 shares during the period. Global Wealth Management Investment Advisory Inc.’s holdings in Prologis were worth $482,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Thompson Investment Management Inc. purchased a new stake in Prologis during the fourth quarter worth $28,000. FinTrust Capital Advisors LLC boosted its holdings in Prologis by 966.7% during the third quarter. FinTrust Capital Advisors LLC now owns 256 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 232 shares in the last quarter. Salem Investment Counselors Inc. purchased a new stake in Prologis during the fourth quarter worth $37,000. FNY Investment Advisers LLC purchased a new stake in Prologis during the fourth quarter worth $39,000. Finally, Webster Bank N. A. lifted its holdings in Prologis by 3,600.0% during the fourth quarter. Webster Bank N. A. now owns 333 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 324 shares in the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on PLD. Mizuho reaffirmed a “neutral” rating and set a $130.00 price objective on shares of Prologis in a report on Tuesday, April 2nd. JPMorgan Chase & Co. decreased their price objective on shares of Prologis from $143.00 to $128.00 and set an “overweight” rating on the stock in a report on Thursday, April 25th. Raymond James increased their price objective on shares of Prologis from $130.00 to $145.00 and gave the company a “strong-buy” rating in a report on Wednesday, January 24th. StockNews.com downgraded shares of Prologis from a “hold” rating to a “sell” rating in a report on Wednesday, April 24th. Finally, Morgan Stanley increased their price objective on shares of Prologis from $128.00 to $141.00 and gave the company an “overweight” rating in a report on Wednesday, January 24th. One analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $132.35.

Prologis Price Performance

Prologis stock opened at $101.84 on Thursday. Prologis, Inc. has a 12-month low of $96.64 and a 12-month high of $137.52. The stock has a market cap of $94.29 billion, a P/E ratio of 29.78, a PEG ratio of 2.12 and a beta of 1.05. The company has a 50-day moving average price of $123.24 and a 200 day moving average price of $121.78. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.51.

Prologis Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were given a dividend of $0.96 per share. This is a boost from Prologis’s previous quarterly dividend of $0.87. This represents a $3.84 annualized dividend and a yield of 3.77%. The ex-dividend date of this dividend was Friday, March 15th. Prologis’s dividend payout ratio (DPR) is presently 112.28%.

Prologis Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 31, 2023, 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.