Harbor Capital Advisors Inc. Purchases 712 Shares of Prologis, Inc. (NYSE:PLD)

Harbor Capital Advisors Inc. increased its holdings in Prologis, Inc. (NYSE:PLD) by 3.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,706 shares of the real estate investment trust’s stock after purchasing 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 filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC raised its holdings in Prologis by 4.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 48,108 shares of the real estate investment trust’s stock worth $5,085,000 after purchasing an additional 1,898 shares in the last quarter. Fulton Bank N.A. raised its stake in Prologis by 7.7% during the fourth quarter. Fulton Bank N.A. now owns 25,217 shares of the real estate investment trust’s stock valued at $2,665,000 after buying an additional 1,808 shares during the last quarter. First County Bank CT raised its position in shares of Prologis by 21.0% in the 4th quarter. First County Bank CT now owns 2,681 shares of the real estate investment trust’s stock worth $283,000 after purchasing an additional 466 shares during the last quarter. Diversified Trust Co lifted its stake in shares of Prologis by 564.8% in the fourth quarter. Diversified Trust Co now owns 27,635 shares of the real estate investment trust’s stock worth $2,921,000 after buying an additional 23,478 shares in the last quarter. Finally, Canandaigua National Bank & Trust Co. lifted its position in Prologis by 4.4% in the 4th quarter. Canandaigua National Bank & Trust Co. now owns 9,906 shares of the real estate investment trust’s stock valued at $1,047,000 after acquiring an additional 420 shares in the last quarter. 93.50% of the stock is owned by institutional investors.

Prologis Trading Down 1.8 %

Shares of Prologis stock opened at $103.65 on Friday. The company has a fifty day moving average of $110.94 and a 200 day moving average of $118.45. Prologis, Inc. has a fifty-two week low of $100.82 and a fifty-two week high of $135.76. The company has a market capitalization of $96.00 billion, a P/E ratio of 31.31, a P/E/G ratio of 3.27 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 (NYSE:PLD) last released its earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.29). The company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Prologis had a return on equity of 5.34% and a net margin of 39.08%. Prologis’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period last year, the firm posted $1.30 EPS. On average, sell-side analysts anticipate that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

Prologis Announces Dividend

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

Wall Street Analyst Weigh In

PLD has been the topic of several research analyst reports. The Goldman Sachs Group restated a “neutral” rating and set a $132.00 target price (down previously from $142.00) on shares of Prologis in a research note on Monday, October 21st. Baird R W raised shares of Prologis from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Barclays increased their price target on Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a report on Monday, November 18th. Mizuho cut their price objective on Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a report on Wednesday. Finally, BMO Capital Markets downgraded Prologis from a “market perform” rating to an “underperform” rating and lowered their target price for the company from $120.00 to $104.00 in a report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $129.06.

Prologis 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.