G&S Capital LLC Sells 530 Shares of Prologis, Inc. (NYSE:PLD)

G&S Capital LLC reduced its position in Prologis, Inc. (NYSE:PLD) by 2.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 23,980 shares of the real estate investment trust’s stock after selling 530 shares during the quarter. G&S Capital LLC’s holdings in Prologis were worth $2,535,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. Avestar Capital LLC raised its holdings in Prologis by 22.3% during the fourth quarter. Avestar Capital LLC now owns 5,336 shares of the real estate investment trust’s stock worth $564,000 after buying an additional 974 shares during the last quarter. Values First Advisors Inc. lifted its holdings in shares of Prologis by 44.8% in the fourth quarter. Values First Advisors Inc. now owns 1,933 shares of the real estate investment trust’s stock valued at $204,000 after purchasing an additional 598 shares in the last quarter. Kentucky Trust Co purchased a new position in shares of Prologis during the fourth quarter valued at approximately $156,000. Gladstone Institutional Advisory LLC grew its holdings in Prologis by 26.4% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 5,090 shares of the real estate investment trust’s stock worth $538,000 after buying an additional 1,062 shares in the last quarter. Finally, Certuity LLC bought a new stake in Prologis during the fourth quarter worth $225,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Insiders Place Their Bets

In related news, CIO Joseph Ghazal sold 10,997 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the transaction, the executive now directly owns 7,977 shares of the company’s stock, valued at approximately $947,188.98. This trade represents a 57.96 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.50% of the company’s stock.

Prologis Stock Performance

Prologis stock opened at $119.81 on Thursday. Prologis, Inc. has a fifty-two week low of $100.82 and a fifty-two week high of $135.76. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.23. The stock has a market cap of $110.96 billion, a P/E ratio of 29.95, a price-to-earnings-growth ratio of 2.64 and a beta of 1.10. The firm’s fifty day moving average price is $111.39 and its 200-day moving average price is $118.15.

Prologis Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were given a dividend of $0.96 per share. The ex-dividend date was Monday, December 16th. This represents a $3.84 dividend on an annualized basis and a yield of 3.21%. Prologis’s payout ratio is 96.00%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Truist Financial lifted their price target on Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Mizuho lowered their price objective on Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. UBS Group lifted their price objective on shares of Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Royal Bank of Canada lifted their price target on Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a research report on Monday, January 27th. Finally, BMO Capital Markets cut Prologis from a “market perform” rating to an “underperform” rating and dropped their price objective for the stock from $120.00 to $104.00 in a report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $128.78.

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.