Prologis, Inc. (NYSE:PLD) Shares Sold by Harbor Investment Advisory LLC

Harbor Investment Advisory LLC trimmed its holdings in shares of Prologis, Inc. (NYSE:PLD) by 25.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 9,939 shares of the real estate investment trust’s stock after selling 3,463 shares during the period. Harbor Investment Advisory LLC’s holdings in Prologis were worth $1,051,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PLD. Strong Tower Advisory Services boosted its holdings in Prologis by 30.1% in the 4th quarter. Strong Tower Advisory Services now owns 2,550 shares of the real estate investment trust’s stock worth $270,000 after buying an additional 590 shares during the last quarter. Sarasin & Partners LLP lifted its position in shares of Prologis by 0.3% in the fourth quarter. Sarasin & Partners LLP now owns 936,862 shares of the real estate investment trust’s stock valued at $99,026,000 after acquiring an additional 2,814 shares in the last quarter. Liberty One Investment Management LLC boosted its stake in shares of Prologis by 10.3% in the fourth quarter. Liberty One Investment Management LLC now owns 39,443 shares of the real estate investment trust’s stock worth $4,169,000 after acquiring an additional 3,693 shares during the last quarter. Clarius Group LLC increased its position in shares of Prologis by 22.7% during the fourth quarter. Clarius Group LLC now owns 5,338 shares of the real estate investment trust’s stock worth $564,000 after purchasing an additional 988 shares in the last quarter. Finally, Oak Ridge Investments LLC raised its stake in Prologis by 3.6% in the 4th quarter. Oak Ridge Investments LLC now owns 6,571 shares of the real estate investment trust’s stock valued at $695,000 after purchasing an additional 231 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

PLD has been the subject of a number of research reports. BMO Capital Markets lowered shares of Prologis from a “market perform” rating to an “underperform” rating and dropped their target price for the stock from $120.00 to $104.00 in a report on Friday, December 6th. BTIG Research cut their price objective on shares of Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a report on Friday, January 17th. Wolfe Research decreased their target price on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Raymond James restated an “outperform” rating and issued a $125.00 price target (down from $130.00) on shares of Prologis in a research report on Wednesday, December 11th. Finally, Baird R W upgraded Prologis from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $128.67.

Prologis Stock Up 7.1 %

Prologis stock opened at $117.27 on Wednesday. The company has a market capitalization of $108.62 billion, a PE ratio of 35.43, a price-to-earnings-growth ratio of 3.01 and a beta of 1.09. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43. Prologis, Inc. has a fifty-two week low of $100.82 and a fifty-two week high of $135.76. The firm has a 50 day moving average price of $110.25 and a 200 day moving average price of $118.34.

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were issued a $0.96 dividend. The ex-dividend date was Monday, December 16th. This represents a $3.84 annualized dividend and a dividend yield of 3.27%. Prologis’s dividend payout ratio is presently 116.01%.

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.