Bar Harbor Wealth Management Invests $775,000 in Prologis, Inc. (NYSE:PLD)

Bar Harbor Wealth Management purchased a new stake in Prologis, Inc. (NYSE:PLD) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 6,135 shares of the real estate investment trust’s stock, valued at approximately $775,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Optimum Investment Advisors purchased a new stake in shares of Prologis in the first quarter valued at $26,000. Semmax Financial Advisors Inc. purchased a new stake in Prologis in the 2nd quarter worth about $27,000. American Capital Advisory LLC acquired a new stake in Prologis during the 2nd quarter worth about $26,000. Central Valley Advisors LLC purchased a new position in Prologis during the 2nd quarter valued at about $29,000. Finally, Sunbelt Securities Inc. increased 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 purchasing an additional 224 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Price Performance

NYSE PLD opened at $122.50 on Friday. The company has a market cap of $113.42 billion, a P/E ratio of 35.82, a P/E/G ratio of 3.05 and a beta of 1.07. Prologis, Inc. has a 1 year low of $96.64 and a 1 year high of $137.52. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.52. The company has a fifty day simple moving average of $125.43 and a 200 day simple moving average of $117.72.

Prologis (NYSE:PLD) last released its quarterly 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). The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. Prologis had a net margin of 36.37% and a return on equity of 4.88%. The firm’s revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the company earned $1.30 earnings per share. On average, sell-side analysts predict that Prologis, Inc. will post 5.42 EPS for the current year.

Prologis Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 3.13%. The ex-dividend date was Monday, September 16th. Prologis’s dividend payout ratio is currently 112.28%.

Analysts Set New Price Targets

A number of brokerages recently commented on PLD. Truist Financial boosted their price objective on shares of Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a research report on Monday, August 5th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $115.00 price target on shares of Prologis in a research note on Monday, July 15th. Evercore ISI lifted their price objective on Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Scotiabank upped their target price on Prologis from $135.00 to $142.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 26th. Finally, The Goldman Sachs Group lifted their price target on Prologis from $140.00 to $156.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Seven analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $132.71.

Insiders Place Their Bets

In other news, CIO Joseph Ghazal sold 5,200 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $129.07, for a total value of $671,164.00. Following the sale, the executive now owns 13,187 shares in the company, valued at approximately $1,702,046.09. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.50% of the company’s stock.

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.