Bar Harbor Wealth Management Purchases 5,758 Shares of Prologis, Inc. (NYSE:PLD)

Bar Harbor Wealth Management boosted its position in Prologis, Inc. (NYSE:PLD - Free Report) by 93.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,893 shares of the real estate investment trust's stock after purchasing an additional 5,758 shares during the period. Bar Harbor Wealth Management's holdings in Prologis were worth $1,257,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Semmax Financial Advisors Inc. acquired a new stake in shares of Prologis in the second quarter valued at $27,000. Sunbelt Securities Inc. lifted its holdings in 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 acquiring an additional 224 shares during the last quarter. Dunhill Financial LLC boosted its position in shares of Prologis by 239.5% during the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust's stock valued at $33,000 after purchasing an additional 182 shares in the last quarter. Hara Capital LLC acquired a new position in shares of Prologis in the 3rd quarter worth approximately $48,000. Finally, Coastline Trust Co acquired a new position in shares of Prologis in the 3rd quarter worth approximately $52,000. 93.50% of the stock is owned by institutional investors.

Prologis Stock Up 1.7 %

Shares of NYSE PLD traded up $1.78 during trading hours on Monday, hitting $105.37. The stock had a trading volume of 5,774,665 shares, compared to its average volume of 4,389,238. The firm's 50-day moving average price is $110.77 and its two-hundred day moving average price is $118.46. Prologis, Inc. has a 52 week low of $100.82 and a 52 week high of $135.76. The company has a market capitalization of $97.59 billion, a P/E ratio of 31.83, a P/E/G ratio of 3.27 and a beta of 1.09. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43.

Prologis (NYSE:PLD - Get Free Report) last posted its earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.29). Prologis had a return on equity of 5.34% and a net margin of 39.08%. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same period in the prior year, the firm earned $1.30 earnings per share. The business's revenue was up 6.9% on a year-over-year basis. Analysts anticipate that Prologis, Inc. will post 5.45 EPS for the current fiscal year.

Prologis Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were paid a dividend of $0.96 per share. The ex-dividend date was Monday, December 16th. This represents a $3.84 annualized dividend and a dividend yield of 3.64%. Prologis's dividend payout ratio (DPR) is presently 116.01%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on PLD shares. JPMorgan Chase & Co. reduced their target price on shares of Prologis from $138.00 to $131.00 and set an "overweight" rating for the company in a report on Monday, October 21st. Barclays raised their price objective on Prologis from $131.00 to $132.00 and gave the stock an "overweight" rating in a research note on Monday, November 18th. Evercore ISI boosted their target price on Prologis from $124.00 to $128.00 and gave the stock an "in-line" rating in a research report on Monday, September 16th. Raymond James reiterated an "outperform" rating and issued a $125.00 price target (down previously from $130.00) on shares of Prologis in a research report on Wednesday, December 11th. Finally, BMO Capital Markets downgraded Prologis from a "market perform" rating to an "underperform" rating and cut their price objective for the stock from $120.00 to $104.00 in a report on Friday, December 6th. One research analyst has rated the stock with a sell rating, six have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $129.06.

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.