Harbour Investments Inc. Purchases 8,025 Shares of Prologis, Inc. (NYSE:PLD)

Harbour Investments Inc. grew its position in shares of Prologis, Inc. (NYSE:PLD) by 257.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,139 shares of the real estate investment trust’s stock after buying an additional 8,025 shares during the quarter. Harbour Investments Inc.’s holdings in Prologis were worth $1,177,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Dunhill Financial LLC raised its holdings in Prologis by 239.5% in the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 182 shares during the period. Centricity Wealth Management LLC bought a new position in Prologis in the 4th quarter worth $30,000. Promus Capital LLC bought a new position in Prologis in the 4th quarter worth $34,000. Whipplewood Advisors LLC bought a new position in Prologis in the 4th quarter worth $34,000. Finally, Asset Planning Inc bought a new position in Prologis in the 4th quarter worth $53,000. 93.50% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. BTIG Research cut their price target on Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research note on Friday, January 17th. Robert W. Baird increased their price target on Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Royal Bank of Canada increased their price target on Prologis from $125.00 to $128.00 and gave the stock a “sector perform” rating in a research note on Monday, January 27th. Wolfe Research cut their price target on Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Finally, Raymond James reiterated a “market perform” rating on shares of Prologis in a research note on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $128.78.

Insider Activity at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total value of $1,305,783.78. Following the completion of the sale, the executive now owns 7,977 shares in the company, valued at approximately $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.50% of the stock is owned by company insiders.

Prologis Stock Down 1.9 %

Shares of NYSE:PLD opened at $112.27 on Wednesday. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. Prologis, Inc. has a 12 month low of $100.82 and a 12 month high of $132.57. The company has a 50-day moving average price of $117.16 and a 200 day moving average price of $117.28. The company has a market cap of $104.06 billion, a price-to-earnings ratio of 28.07, a PEG ratio of 2.70 and a beta of 1.09.

Prologis Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be issued a $1.01 dividend. This is a positive change from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date is Tuesday, March 18th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.60%. Prologis’s payout ratio is presently 101.00%.

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.