Harbor Investment Advisory LLC Sells 3,463 Shares of Prologis, Inc. (NYSE:PLD)

Harbor Investment Advisory LLC lowered its position in Prologis, Inc. (NYSE:PLD) by 25.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,939 shares of the real estate investment trust’s stock after selling 3,463 shares during the quarter. Harbor Investment Advisory LLC’s holdings in Prologis were worth $1,051,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of PLD. Semmax Financial Advisors Inc. purchased a new stake in shares of Prologis during the 2nd quarter worth $27,000. Sunbelt Securities Inc. boosted its holdings in shares of Prologis by 640.0% in the 2nd quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 224 shares in the last quarter. Dunhill Financial LLC grew its position in shares of Prologis by 239.5% in the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 182 shares during the last quarter. Hara Capital LLC bought a new position in shares of Prologis during the 3rd quarter worth approximately $48,000. Finally, Coastline Trust Co purchased a new stake in Prologis during the third quarter valued at approximately $52,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on PLD. Wolfe Research cut their price target on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Truist Financial dropped their target price on Prologis from $132.00 to $121.00 and set a “buy” rating on the stock in a research note on Friday, January 17th. BTIG Research decreased their price target on Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research note on Friday, January 17th. Scotiabank dropped their price target on Prologis from $136.00 to $134.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, December 4th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $132.00 price objective (down from $142.00) on shares of Prologis in a research report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Prologis currently has an average rating of “Moderate Buy” and a consensus target price of $128.67.

Prologis Trading Up 7.1 %

Prologis stock opened at $117.27 on Wednesday. The firm has a market cap of $108.62 billion, a PE ratio of 35.43, a P/E/G ratio of 3.01 and a beta of 1.09. Prologis, Inc. has a 12 month low of $100.82 and a 12 month high of $135.76. The stock’s 50 day simple moving average is $110.25 and its two-hundred day simple moving average is $118.34. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56.

Prologis Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors 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 annualized dividend and a yield of 3.27%. Prologis’s dividend payout ratio is presently 116.01%.

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.