Harbor Capital Advisors Inc. raised its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 14.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 22,630 shares of the real estate investment trust's stock after acquiring an additional 2,924 shares during the period. Harbor Capital Advisors Inc.'s holdings in Prologis were worth $2,530,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC increased its position in shares of Prologis by 629.0% in the 4th quarter. Brighton Jones LLC now owns 17,475 shares of the real estate investment trust's stock valued at $1,847,000 after buying an additional 15,078 shares in the last quarter. Empowered Funds LLC increased its position in shares of Prologis by 14.5% in the 4th quarter. Empowered Funds LLC now owns 39,797 shares of the real estate investment trust's stock valued at $4,207,000 after buying an additional 5,042 shares in the last quarter. Principle Wealth Partners LLC increased its position in shares of Prologis by 2.9% in the 4th quarter. Principle Wealth Partners LLC now owns 3,302 shares of the real estate investment trust's stock valued at $349,000 after buying an additional 92 shares in the last quarter. Stonebridge Financial Group LLC bought a new stake in shares of Prologis in the 4th quarter valued at $72,000. Finally, Quent Capital LLC increased its position in shares of Prologis by 12.5% in the 4th quarter. Quent Capital LLC now owns 1,502 shares of the real estate investment trust's stock valued at $159,000 after buying an additional 167 shares in the last quarter. Institutional investors own 93.50% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts recently commented on the stock. Truist Financial lowered their price objective on shares of Prologis from $123.00 to $120.00 and set a "buy" rating for the company in a research report on Monday, May 5th. Robert W. Baird lowered their price objective on shares of Prologis from $126.00 to $120.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Morgan Stanley lowered their price objective on shares of Prologis to $120.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. BMO Capital Markets lowered their price objective on shares of Prologis from $105.00 to $95.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. Finally, Evercore ISI lowered their target price on Prologis from $111.00 to $106.00 and set an "in-line" rating for the company in a report on Thursday, April 17th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $120.42.
Check Out Our Latest Stock Analysis on PLD
Prologis Stock Down 1.2%
Shares of NYSE PLD traded down $1.26 during mid-day trading on Friday, hitting $107.18. The company had a trading volume of 3,359,339 shares, compared to its average volume of 4,120,970. The company has a market capitalization of $99.45 billion, a PE ratio of 26.79, a price-to-earnings-growth ratio of 2.70 and a beta of 1.25. The firm has a 50-day simple moving average of $104.61 and a two-hundred day simple moving average of $110.16. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. Prologis, Inc. has a one year low of $85.35 and a one year high of $132.57.
Prologis (NYSE:PLD - Get Free Report) last announced its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.04. The company had revenue of $1.99 billion during the quarter, compared to analysts' expectations of $1.99 billion. Prologis had a return on equity of 6.44% and a net margin of 45.50%. On average, equities analysts expect that Prologis, Inc. will post 5.73 EPS for the current year.
Prologis Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Tuesday, June 17th will be paid a $1.01 dividend. The ex-dividend date is Tuesday, June 17th. This represents a $4.04 annualized dividend and a yield of 3.77%. Prologis's dividend payout ratio (DPR) is currently 101.00%.
Prologis Company Profile
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Free Report)
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.
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