Harbour Investments Inc. Sells 1,708 Shares of Prologis, Inc. (NYSE:PLD)

Harbour Investments Inc. lessened its position in shares of Prologis, Inc. (NYSE:PLD) by 38.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,750 shares of the real estate investment trust’s stock after selling 1,708 shares during the period. Harbour Investments Inc.’s holdings in Prologis were worth $309,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of PLD. Optimum Investment Advisors bought a new stake in Prologis in the 1st quarter valued at approximately $26,000. True Wealth Design LLC bought a new position in shares of Prologis in the fourth quarter valued at $27,000. Central Valley Advisors LLC bought a new position in shares of Prologis in the second quarter valued at $29,000. JFS Wealth Advisors LLC increased its holdings in Prologis by 254.5% during the fourth quarter. JFS Wealth Advisors LLC now owns 234 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 168 shares during the last quarter. Finally, Clear Investment Research LLC raised its position in Prologis by 188.1% during the fourth quarter. Clear Investment Research LLC now owns 242 shares of the real estate investment trust’s stock worth $32,000 after acquiring an additional 158 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Stock Down 1.2 %

Shares of PLD opened at $125.33 on Friday. The company has a current ratio of 0.36, a quick ratio of 0.29 and a debt-to-equity ratio of 0.52. Prologis, Inc. has a 12 month low of $96.64 and a 12 month high of $137.52. The firm’s 50 day moving average is $120.31 and its 200-day moving average is $119.17. The stock has a market capitalization of $116.04 billion, a PE ratio of 36.65, a P/E/G ratio of 3.02 and a beta of 1.06.

Prologis (NYSE:PLD) last posted its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.92 EPS for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.41). The company had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.86 billion. Prologis had a return on equity of 4.88% and a net margin of 36.37%. Prologis’s revenue was down 18.1% on a year-over-year basis. During the same quarter last year, the business earned $1.83 EPS. Equities research analysts forecast that Prologis, Inc. will post 5.43 EPS for the current year.

Insider Activity at Prologis

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the 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 sale, the executive now directly owns 13,187 shares in the company, valued at $1,702,046.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PLD. Evercore ISI boosted their price objective on shares of Prologis from $122.00 to $124.00 and gave the stock an “in-line” rating in a research note on Wednesday. Wells Fargo & Company boosted their price target on Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a research report on Wednesday. The Goldman Sachs Group raised their price objective on Prologis from $140.00 to $156.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Mizuho decreased their target price on Prologis from $130.00 to $120.00 and set a “neutral” rating on the stock in a report on Friday, May 31st. Finally, Argus raised their price target on Prologis from $120.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Seven equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $133.12.

About Prologis

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.