Bar Harbor Wealth Management Has $1.26 Million Stock Position in Prologis, Inc. (NYSE:PLD)

Bar Harbor Wealth Management grew its position in shares of Prologis, Inc. (NYSE:PLD) by 93.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,893 shares of the real estate investment trust’s stock after buying an additional 5,758 shares during the quarter. Bar Harbor Wealth Management’s holdings in Prologis were worth $1,257,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Coronation Fund Managers Ltd. acquired a new stake in shares of Prologis in the second quarter valued at $878,000. Headlands Technologies LLC bought a new position in Prologis in the 2nd quarter worth approximately $53,000. Fiduciary Group LLC lifted its holdings in Prologis by 7.5% during the 2nd quarter. Fiduciary Group LLC now owns 3,858 shares of the real estate investment trust’s stock worth $433,000 after buying an additional 270 shares in the last quarter. Westover Capital Advisors LLC bought a new position in Prologis in the 2nd quarter valued at $334,000. Finally, Oppenheimer Asset Management Inc. raised its position in shares of Prologis by 1.0% during the second quarter. Oppenheimer Asset Management Inc. now owns 39,815 shares of the real estate investment trust’s stock worth $4,472,000 after acquiring an additional 381 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on PLD shares. Barclays lifted their price objective on Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. Raymond James reaffirmed an “outperform” rating and issued a $125.00 price objective (down from $130.00) on shares of Prologis in a research note on Wednesday, December 11th. JPMorgan Chase & Co. cut their price target on Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a research note on Monday, October 21st. BMO Capital Markets cut Prologis from a “market perform” rating to an “underperform” rating and decreased their price objective for the stock from $120.00 to $104.00 in a research note on Friday, December 6th. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $132.00 target price (down previously from $142.00) on shares of Prologis in a research note on Monday, October 21st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $129.06.

Prologis Stock Up 1.7 %

NYSE PLD traded up $1.78 during trading on Monday, hitting $105.37. The stock had a trading volume of 3,944,029 shares, compared to its average volume of 4,060,883. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43. Prologis, Inc. has a 12 month low of $100.82 and a 12 month high of $135.76. The company has a market capitalization of $97.59 billion, a PE ratio of 31.83, a P/E/G ratio of 3.27 and a beta of 1.09. The company’s 50-day moving average price is $110.94 and its two-hundred day moving average price is $118.50.

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

Prologis Announces Dividend

The business 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. This represents a $3.84 annualized dividend and a dividend yield of 3.64%. The ex-dividend date was Monday, December 16th. Prologis’s dividend payout ratio (DPR) is 116.01%.

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.