Harbour Investments Inc. Has $393,000 Stake in Prologis, Inc. (NYSE:PLD)

Harbour Investments Inc. boosted its stake in 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 institutional investor owned 3,114 shares of the real estate investment trust’s stock after acquiring an additional 364 shares during the quarter. Harbour Investments Inc.’s holdings in Prologis were worth $393,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. American Capital Advisory LLC bought a new position in shares of Prologis during the 2nd quarter worth approximately $26,000. Semmax Financial Advisors Inc. bought a new position in Prologis in the second quarter valued at $27,000. Central Valley Advisors LLC acquired a new stake in Prologis in the 2nd quarter valued at $29,000. Sunbelt Securities Inc. lifted its position in Prologis by 640.0% during the 2nd quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 224 shares in the last quarter. Finally, Wetzel Investment Advisors Inc. acquired a new position in shares of Prologis during the 2nd quarter worth about $31,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Prologis

In related news, CIO Joseph Ghazal sold 5,200 shares of Prologis stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $129.07, for a total value of $671,164.00. Following the transaction, the executive now directly owns 13,187 shares of the company’s stock, valued at $1,702,046.09. This trade represents a 28.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.50% of the stock is owned by insiders.

Prologis Price Performance

Shares of Prologis stock opened at $113.42 on Friday. The company has a 50-day simple moving average of $121.34 and a two-hundred day simple moving average of $117.94. Prologis, Inc. has a twelve month low of $101.11 and a twelve month high of $137.52. The stock has a market capitalization of $105.05 billion, a price-to-earnings ratio of 34.25, a price-to-earnings-growth ratio of 3.06 and a beta of 1.08. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.56.

Prologis (NYSE:PLD) last released its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). The business 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 firm’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.30 earnings per share. Analysts forecast that Prologis, Inc. will post 5.45 EPS for the current year.

Prologis Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date of this dividend was Monday, September 16th. Prologis’s payout ratio is currently 116.01%.

Analyst Ratings Changes

Several analysts recently issued reports on PLD shares. Bank of America reiterated a “neutral” rating and set a $128.00 target price on shares of Prologis in a report on Monday, August 12th. Royal Bank of Canada cut Prologis from an “outperform” rating to a “sector perform” rating and upped their price objective for the stock from $124.00 to $127.00 in a research note on Monday, August 5th. Wells Fargo & Company raised their target price on shares of Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a research note on Wednesday, August 28th. JPMorgan Chase & Co. cut their price target on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. Finally, Truist Financial lifted their price objective on shares of Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Eight research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $131.12.

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.