Harvest Fund Management Co. Ltd Buys New Stake in Prologis, Inc. (NYSE:PLD)

Key Points

• Harvest Fund Management Co. Ltd has made a new investment in Prologis, Inc. purchasing 4,600 shares valued at approximately $514,000 in the first quarter.
• Prologis, Inc. reported an EPS of $1.46 for the last quarter, surpassing analysts' expectations, with an annual revenue increase of 8.8% compared to the previous year.
• The company announced a quarterly dividend of $1.01, resulting in an annualized dividend of $4.04 and a dividend yield of 3.72%.

Harvest Fund Management Co. Ltd acquired a new stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,600 shares of the real estate investment trust's stock, valued at approximately $514,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PLD. REAP Financial Group LLC lifted its position in Prologis by 40.0% during the fourth quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust's stock valued at $31,000 after purchasing an additional 84 shares during the period. Olde Wealth Management LLC bought a new position in Prologis during the first quarter valued at approximately $43,000. Cornerstone Planning Group LLC lifted its position in Prologis by 63.6% during the first quarter. Cornerstone Planning Group LLC now owns 391 shares of the real estate investment trust's stock valued at $44,000 after purchasing an additional 152 shares during the period. Missouri Trust & Investment Co lifted its position in Prologis by 59.6% during the first quarter. Missouri Trust & Investment Co now owns 399 shares of the real estate investment trust's stock valued at $45,000 after purchasing an additional 149 shares during the period. Finally, Bogart Wealth LLC lifted its position in Prologis by 56.2% during the first quarter. Bogart Wealth LLC now owns 417 shares of the real estate investment trust's stock valued at $47,000 after purchasing an additional 150 shares during the period. Institutional investors own 93.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on PLD shares. Citigroup lowered their price objective on shares of Prologis from $150.00 to $140.00 and set a "buy" rating on the stock in a research report on Wednesday, July 23rd. Barclays decreased their price target on shares of Prologis from $132.00 to $119.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 30th. Wells Fargo & Company set a $137.00 price target on shares of Prologis and gave the stock an "overweight" rating in a research report on Sunday, July 13th. Royal Bank Of Canada decreased their price target on shares of Prologis from $128.00 to $117.00 and set a "sector perform" rating on the stock in a research report on Tuesday, April 29th. Finally, UBS Group increased their price target on shares of Prologis from $106.00 to $120.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $120.74.

Prologis Price Performance

Shares of PLD stock traded down $1.86 on Friday, hitting $104.92. 6,122,816 shares of the stock traded hands, compared to its average volume of 4,380,032. The firm has a market cap of $97.37 billion, a price-to-earnings ratio of 28.43, a PEG ratio of 2.68 and a beta of 1.21. Prologis, Inc. has a 52 week low of $85.35 and a 52 week high of $132.57. The firm has a 50 day simple moving average of $107.57 and a two-hundred day simple moving average of $109.80. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.65 and a quick ratio of 0.41.

Prologis (NYSE:PLD - Get Free Report) last posted its earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.05. The company had revenue of $2.03 billion during the quarter, compared to analysts' expectations of $2.03 billion. Prologis had a net margin of 40.29% and a return on equity of 5.96%. Prologis's quarterly revenue was up 8.8% on a year-over-year basis. During the same period last year, the company posted $1.34 earnings per share. As a group, equities research analysts predict that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Tuesday, June 17th were paid a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend was Tuesday, June 17th. Prologis's dividend payout ratio (DPR) is presently 109.49%.

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.