Harrington Investments INC Sells 324 Shares of Prologis, Inc. (NYSE:PLD)

Harrington Investments INC lessened its position in shares of Prologis, Inc. (NYSE:PLD) by 2.1% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 15,238 shares of the real estate investment trust’s stock after selling 324 shares during the quarter. Harrington Investments INC’s holdings in Prologis were worth $1,703,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Murphy & Mullick Capital Management Corp bought a new position in shares of Prologis in the 4th quarter valued at about $26,000. Crowley Wealth Management Inc. purchased a new stake in Prologis during the 4th quarter valued at $27,000. Centricity Wealth Management LLC bought a new stake in shares of Prologis in the 4th quarter worth about $30,000. REAP Financial Group LLC lifted its stake in Prologis by 40.0% in the fourth quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 84 shares during the last quarter. Finally, Promus Capital LLC bought a new position in shares of Prologis during the fourth quarter valued at approximately $34,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on PLD shares. Wall Street Zen upgraded Prologis from a “sell” rating to a “hold” rating in a research note on Friday, May 30th. Barclays cut their price target on Prologis from $132.00 to $119.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 30th. Wells Fargo & Company reduced their price target on shares of Prologis from $146.00 to $119.00 and set an “overweight” rating for the company in a report on Monday, May 19th. Truist Financial lowered their target price on Prologis from $123.00 to $120.00 and set a “buy” rating for the company in a report on Monday, May 5th. Finally, Robert W. Baird lowered their price target on shares of Prologis from $126.00 to $120.00 and set an “outperform” rating on the stock in a report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $120.42.

Prologis Stock Up 1.0%

PLD stock opened at $108.91 on Friday. The company has a market capitalization of $101.06 billion, a P/E ratio of 27.23, a price-to-earnings-growth ratio of 2.70 and a beta of 1.25. The firm’s fifty day simple moving average is $103.68 and its 200-day simple moving average is $110.41. Prologis, Inc. has a 12 month low of $85.35 and a 12 month high of $132.57. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43.

Prologis (NYSE:PLD) last issued its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.04. The business 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%. As a group, equities research analysts forecast that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Announces Dividend

The firm also recently declared 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 of this dividend is Tuesday, June 17th. This represents a $4.04 annualized dividend and a dividend yield of 3.71%. Prologis’s dividend payout ratio is presently 101.00%.

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.