Golden State Wealth Management LLC Acquires 1,479 Shares of Prologis, Inc. (NYSE:PLD)

Golden State Wealth Management LLC increased its holdings in shares of Prologis, Inc. (NYSE:PLD) by 157.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,421 shares of the real estate investment trust’s stock after acquiring an additional 1,479 shares during the quarter. Golden State Wealth Management LLC’s holdings in Prologis were worth $271,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Aviva PLC increased its position in Prologis by 36.6% during the fourth quarter. Aviva PLC now owns 695,187 shares of the real estate investment trust’s stock worth $73,481,000 after acquiring an additional 186,187 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Prologis by 29.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 784,360 shares of the real estate investment trust’s stock worth $82,907,000 after acquiring an additional 179,880 shares during the period. Allstate Corp increased its position in Prologis by 111.7% during the fourth quarter. Allstate Corp now owns 74,518 shares of the real estate investment trust’s stock worth $7,877,000 after acquiring an additional 39,321 shares during the period. First Citizens Bank & Trust Co. increased its position in Prologis by 1,451.2% during the first quarter. First Citizens Bank & Trust Co. now owns 31,180 shares of the real estate investment trust’s stock worth $3,486,000 after acquiring an additional 29,170 shares during the period. Finally, Dynamic Advisor Solutions LLC increased its position in Prologis by 3.1% during the first quarter. Dynamic Advisor Solutions LLC now owns 5,506 shares of the real estate investment trust’s stock worth $615,000 after acquiring an additional 167 shares during the period. 93.50% of the stock is owned by institutional investors.

Prologis Trading Up 1.1%

PLD opened at $105.58 on Friday. The company’s 50 day moving average is $106.21 and its 200-day moving average is $109.50. 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. The company has a market cap of $97.97 billion, a P/E ratio of 26.39, a PEG ratio of 2.65 and a beta of 1.25.

Prologis (NYSE:PLD) last posted its earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 EPS for the quarter, topping the consensus estimate of $1.38 by $0.04. Prologis had a net margin of 44.59% and a return on equity of 6.45%. The business had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.99 billion. Equities research analysts predict that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Tuesday, June 17th will be given a dividend of $1.01 per share. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $4.04 annualized dividend and a yield of 3.83%. Prologis’s dividend payout ratio is presently 101.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Robert W. Baird reduced their price objective on shares of Prologis from $126.00 to $120.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 7th. Mizuho reduced their price objective on shares of Prologis from $117.00 to $105.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Wolfe Research downgraded shares of Prologis from an “outperform” rating to a “peer perform” rating in a research note on Monday, April 21st. Wells Fargo & Company reduced their price objective on shares of Prologis from $146.00 to $119.00 and set an “overweight” rating on the stock in a research note on Monday, May 19th. Finally, Morgan Stanley reduced their price objective on shares of Prologis to $120.00 and set an “outperform” rating on the stock in a research note on Monday, April 14th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.