Harvest Portfolios Group Inc. Has $1.05 Million Holdings in Prologis, Inc. (NYSE:PLD)

Harvest Portfolios Group Inc. raised its position in Prologis, Inc. (NYSE:PLD) by 94.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,345 shares of the real estate investment trust’s stock after purchasing an additional 4,054 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in Prologis were worth $1,054,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Norden Group LLC grew its stake in Prologis by 15.3% in the first quarter. Norden Group LLC now owns 5,008 shares of the real estate investment trust’s stock valued at $652,000 after acquiring an additional 664 shares during the period. Central Pacific Bank Trust Division purchased a new position in Prologis during the first quarter worth about $203,000. GSA Capital Partners LLP purchased a new position in shares of Prologis in the 1st quarter worth about $1,172,000. Concord Investment Counsel Inc. purchased a new position in shares of Prologis in the 1st quarter worth about $2,308,000. Finally, Envestnet Portfolio Solutions Inc. boosted its holdings in Prologis by 5.8% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 119,755 shares of the real estate investment trust’s stock valued at $15,594,000 after acquiring an additional 6,578 shares during the period. 93.50% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PLD. Scotiabank decreased their target price on Prologis from $142.00 to $136.00 and set a “sector outperform” rating for the company in a research report on Friday, October 25th. Morgan Stanley upped their price objective on Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. Royal Bank of Canada downgraded Prologis from an “outperform” rating to a “sector perform” rating and raised their price objective for the stock from $124.00 to $127.00 in a report on Monday, August 5th. JPMorgan Chase & Co. cut their price target on Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a report on Monday, October 21st. Finally, StockNews.com raised Prologis from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. Eight research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Prologis presently has a consensus rating of “Moderate Buy” and a consensus price target of $131.12.

Insiders Place Their Bets

In other news, CIO Joseph Ghazal sold 5,200 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $129.07, for a total transaction of $671,164.00. Following the transaction, the executive now owns 13,187 shares in the company, valued at approximately $1,702,046.09. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.50% of the company’s stock.

Prologis Trading Down 0.6 %

Shares of NYSE:PLD opened at $113.74 on Thursday. Prologis, Inc. has a twelve month low of $101.11 and a twelve month high of $137.52. The firm has a market cap of $105.34 billion, a P/E ratio of 34.36, a P/E/G ratio of 2.97 and a beta of 1.08. The company has a 50 day moving average of $123.15 and a 200-day moving average of $117.52. 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 (NYSE:PLD) last issued its earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). Prologis had a net margin of 39.08% and a return on equity of 5.34%. The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same period last year, the business earned $1.30 EPS. The company’s quarterly revenue was up 6.9% on a year-over-year basis. As a group, analysts anticipate that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date was Monday, September 16th. Prologis’s dividend payout ratio is 116.01%.

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.