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

Harbor Capital Advisors Inc. increased its position in Prologis, Inc. (NYSE:PLD) by 3.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 19,706 shares of the real estate investment trust’s stock after acquiring an additional 712 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Prologis were worth $2,083,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Semmax Financial Advisors Inc. bought a new stake in shares of Prologis in the second quarter valued at approximately $27,000. Sunbelt Securities Inc. grew its stake in Prologis by 640.0% in the 2nd quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 224 shares in the last quarter. Dunhill Financial LLC raised its holdings in Prologis by 239.5% during the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 182 shares during the period. Hara Capital LLC bought a new stake in Prologis during the 3rd quarter valued at $48,000. Finally, Coastline Trust Co purchased a new stake in shares of Prologis during the third quarter worth $52,000. 93.50% of the stock is currently owned by institutional investors.

Prologis Stock Down 1.8 %

Shares of NYSE PLD opened at $103.65 on Friday. The stock has a market capitalization of $96.00 billion, a P/E ratio of 31.31, a PEG ratio of 3.27 and a beta of 1.09. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43. Prologis, Inc. has a one year low of $100.82 and a one year high of $135.76. The firm’s 50 day simple moving average is $110.94 and its two-hundred day simple moving average is $118.45.

Prologis (NYSE:PLD) last posted its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (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 analysts’ expectations of $1.91 billion. Prologis had a net margin of 39.08% and a return on equity of 5.34%. The business’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.30 earnings per share. As a group, analysts expect that Prologis, Inc. will post 5.45 EPS for the current fiscal year.

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were given a $0.96 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $3.84 annualized dividend and a yield of 3.70%. Prologis’s payout ratio is currently 116.01%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Robert W. Baird upgraded Prologis from a “neutral” rating to an “outperform” rating and reduced their price target for the company from $124.00 to $123.00 in a research report on Monday, January 6th. Barclays increased their price target on shares of Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a report on Monday, November 18th. Evercore ISI boosted their price objective on shares of Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Mizuho lowered their target price on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, JPMorgan Chase & Co. reduced their price target on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research report 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 data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $129.06.

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.