Prologis, Inc. $PLD Shares Bought by Harvest Portfolios Group Inc.

Harvest Portfolios Group Inc. grew its holdings in Prologis, Inc. (NYSE:PLD) by 29.4% during the second quarter, HoldingsChannel.com reports. The fund owned 16,166 shares of the real estate investment trust’s stock after purchasing an additional 3,677 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in Prologis were worth $1,699,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Stratos Wealth Partners LTD. increased its holdings in Prologis by 0.7% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 13,678 shares of the real estate investment trust’s stock valued at $1,438,000 after purchasing an additional 93 shares in the last quarter. Michael S. Ryan Inc. boosted its position in shares of Prologis by 2.9% in the second quarter. Michael S. Ryan Inc. now owns 3,311 shares of the real estate investment trust’s stock worth $348,000 after buying an additional 94 shares during the period. LaSalle St. Investment Advisors LLC grew its stake in shares of Prologis by 3.7% in the first quarter. LaSalle St. Investment Advisors LLC now owns 2,688 shares of the real estate investment trust’s stock valued at $300,000 after buying an additional 96 shares in the last quarter. Van Hulzen Asset Management LLC raised its holdings in shares of Prologis by 5.6% during the 1st quarter. Van Hulzen Asset Management LLC now owns 1,799 shares of the real estate investment trust’s stock valued at $201,000 after buying an additional 96 shares during the period. Finally, Palogic Value Management L.P. lifted its position in Prologis by 4.7% during the 2nd quarter. Palogic Value Management L.P. now owns 2,130 shares of the real estate investment trust’s stock worth $224,000 after acquiring an additional 96 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Trading Up 1.3%

NYSE PLD opened at $125.57 on Friday. The company has a market capitalization of $116.64 billion, a price-to-earnings ratio of 36.61, a price-to-earnings-growth ratio of 3.13 and a beta of 1.29. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.64 and a quick ratio of 0.65. Prologis, Inc. has a 12 month low of $85.35 and a 12 month high of $127.50. The company’s fifty day moving average price is $117.94 and its two-hundred day moving average price is $110.93.

Prologis (NYSE:PLD) last issued its earnings results on Wednesday, October 15th. The real estate investment trust reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.05. Prologis had a net margin of 36.71% and a return on equity of 5.55%. The business had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the prior year, the business posted $1.43 EPS. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. As a group, research analysts predict that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were issued a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend was Tuesday, September 16th. Prologis’s dividend payout ratio (DPR) is currently 117.78%.

Insider Buying and Selling

In other news, Director Cristina Gabriela Bita sold 1,000 shares of Prologis stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $111.00, for a total value of $111,000.00. Following the completion of the transaction, the director owned 9,829 shares in the company, valued at approximately $1,091,019. This trade represents a 9.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Lori A. Palazzolo sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $111.33, for a total value of $2,783,250.00. Following the sale, the chief accounting officer directly owned 414 shares in the company, valued at approximately $46,090.62. This represents a 98.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 27,000 shares of company stock worth $3,013,665. 0.57% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have issued reports on PLD. Industrial Alliance Securities set a $119.00 price objective on shares of Prologis in a research report on Monday, October 20th. UBS Group set a $137.00 price target on shares of Prologis and gave the company a “buy” rating in a report on Tuesday, October 21st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Prologis in a research note on Wednesday, October 8th. BMO Capital Markets raised shares of Prologis from an “underperform” rating to a “market perform” rating and set a $119.00 price objective for the company in a research report on Monday, October 20th. Finally, Barclays lowered their target price on Prologis from $119.00 to $118.00 and set an “overweight” rating for the company in a research note on Monday, September 15th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $124.56.

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.