Harbour Investments Inc. Buys 364 Shares of Prologis, Inc. (NYSE:PLD)

Harbour Investments Inc. lifted its stake in shares of Prologis, Inc. (NYSE:PLD) by 13.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,114 shares of the real estate investment trust’s stock after purchasing an additional 364 shares during the quarter. Harbour Investments Inc.’s holdings in Prologis were worth $393,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Blair William & Co. IL lifted its stake in shares of Prologis by 16.0% in the 1st quarter. Blair William & Co. IL now owns 29,186 shares of the real estate investment trust’s stock valued at $3,801,000 after acquiring an additional 4,020 shares during the last quarter. Nwam LLC raised its position in Prologis by 49.9% in the first quarter. Nwam LLC now owns 2,827 shares of the real estate investment trust’s stock valued at $368,000 after purchasing an additional 941 shares during the last quarter. Banco Santander S.A. acquired a new stake in shares of Prologis during the first quarter valued at about $470,000. M&G Plc bought a new stake in shares of Prologis during the first quarter worth about $378,000. Finally, First Foundation Advisors increased its stake in shares of Prologis by 13.1% in the first quarter. First Foundation Advisors now owns 1,969 shares of the real estate investment trust’s stock valued at $256,000 after buying an additional 228 shares during the period. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Price Performance

PLD stock opened at $113.42 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43. The company’s 50-day moving average is $121.34 and its 200-day moving average is $117.94. The stock has a market capitalization of $105.05 billion, a PE ratio of 34.25, a price-to-earnings-growth ratio of 3.06 and a beta of 1.08. Prologis, Inc. has a 1 year low of $101.11 and a 1 year high of $137.52.

Prologis (NYSE:PLD) last announced its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. Prologis had a net margin of 39.08% and a return on equity of 5.34%. The company’s revenue was up 6.9% on a year-over-year basis. During the same period last year, the business posted $1.30 EPS. Equities research analysts expect that Prologis, Inc. will post 5.45 EPS for the current fiscal year.

Prologis Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders 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 dividend on an annualized basis and a yield of 3.39%. Prologis’s dividend payout ratio (DPR) is presently 116.01%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PLD. The Goldman Sachs Group reiterated a “neutral” rating and set a $132.00 target price (down from $142.00) on shares of Prologis in a research report on Monday, October 21st. Evercore ISI increased their price objective on Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Morgan Stanley lifted their target price on Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Bank of America reissued a “neutral” rating and issued a $128.00 price target on shares of Prologis in a research note on Monday, August 12th. Finally, Argus lifted their price objective on Prologis from $120.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Eight investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $131.12.

Insiders Place Their Bets

In other news, CIO Joseph Ghazal sold 5,200 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $129.07, for a total transaction of $671,164.00. Following the completion of the sale, the executive now directly owns 13,187 shares of the company’s stock, valued at $1,702,046.09. The trade was a 28.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.50% of the company’s stock.

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.