Harbor Capital Advisors Inc. Decreases Stock Holdings in Prologis, Inc. (NYSE:PLD)

Harbor Capital Advisors Inc. lessened its holdings in Prologis, Inc. (NYSE:PLD) by 0.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 18,994 shares of the real estate investment trust’s stock after selling 108 shares during the period. Harbor Capital Advisors Inc.’s holdings in Prologis were worth $2,399,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of PLD. American Capital Advisory LLC bought a new position in shares of Prologis in the 2nd quarter valued at about $26,000. Semmax Financial Advisors Inc. bought a new position in shares of Prologis during the 2nd quarter valued at approximately $27,000. Central Valley Advisors LLC purchased a new stake in Prologis during the 2nd quarter valued at $29,000. Sunbelt Securities Inc. lifted its position in Prologis by 640.0% in the second quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 224 shares during the last quarter. Finally, Wetzel Investment Advisors Inc. purchased a new position in Prologis during the second quarter worth $31,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Insider Activity at Prologis

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of Prologis stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $129.07, for a total value 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 trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.50% of the stock is currently owned by corporate insiders.

Prologis Stock Up 0.4 %

Prologis stock opened at $113.86 on Tuesday. The company has a quick ratio of 0.36, a current ratio of 0.43 and a debt-to-equity ratio of 0.56. The firm has a market cap of $105.45 billion, a P/E ratio of 34.40, a P/E/G ratio of 2.96 and a beta of 1.08. The business has a fifty day moving average of $123.71 and a two-hundred day moving average of $117.47. Prologis, Inc. has a twelve month low of $101.11 and a twelve month high of $137.52.

Prologis (NYSE:PLD) last issued its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. Prologis had a net margin of 39.08% and a return on equity of 5.34%. Prologis’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.30 EPS. On average, analysts forecast that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were paid a dividend of $0.96 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.84 annualized dividend and a dividend yield of 3.37%. Prologis’s dividend payout ratio (DPR) is presently 116.01%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PLD. Bank of America reaffirmed a “neutral” rating and set a $128.00 price target on shares of Prologis in a research note on Monday, August 12th. Truist Financial raised their price target on Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Royal Bank of Canada lowered Prologis from an “outperform” rating to a “sector perform” rating and increased their target price for the stock from $124.00 to $127.00 in a research note on Monday, August 5th. Morgan Stanley boosted their target price on shares of Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. Finally, Argus lifted their price objective on shares of Prologis from $120.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Eight research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Prologis has an average rating of “Moderate Buy” and an average price target of $131.12.

Prologis Company 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.