Beacon Harbor Wealth Advisors Inc. Sells 1,734 Shares of Prologis, Inc. (NYSE:PLD)

Beacon Harbor Wealth Advisors Inc. trimmed its stake in Prologis, Inc. (NYSE:PLD) by 2.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 61,324 shares of the real estate investment trust’s stock after selling 1,734 shares during the quarter. Prologis accounts for 1.6% of Beacon Harbor Wealth Advisors Inc.’s portfolio, making the stock its 26th biggest holding. Beacon Harbor Wealth Advisors Inc.’s holdings in Prologis were worth $6,855,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. REAP Financial Group LLC increased its position 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 buying an additional 84 shares in the last quarter. Olde Wealth Management LLC purchased a new stake in Prologis in the first quarter worth about $43,000. Cornerstone Planning Group LLC grew its position in shares of Prologis by 63.6% during the first quarter. Cornerstone Planning Group LLC now owns 391 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 152 shares in the last quarter. Missouri Trust & Investment Co grew its position in shares of Prologis by 59.6% during the first quarter. Missouri Trust & Investment Co now owns 399 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 149 shares in the last quarter. Finally, Bogart Wealth LLC grew its position in shares of Prologis by 56.2% during the first quarter. Bogart Wealth LLC now owns 417 shares of the real estate investment trust’s stock worth $47,000 after purchasing an additional 150 shares in the last quarter. 93.50% of the stock is owned by institutional investors.

Prologis Price Performance

Shares of Prologis stock opened at $105.75 on Thursday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.61. Prologis, Inc. has a twelve month low of $85.35 and a twelve month high of $132.57. The business has a 50-day moving average price of $107.55 and a 200 day moving average price of $109.73. The firm has a market cap of $98.14 billion, a PE ratio of 28.66, a P/E/G ratio of 2.68 and a beta of 1.21.

Prologis (NYSE:PLD) last posted its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $1.46 EPS for the quarter, topping the consensus estimate of $1.41 by $0.05. The company had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.03 billion. Prologis had a return on equity of 5.96% and a net margin of 40.29%. Prologis’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.34 EPS. Sell-side analysts predict that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently commented on PLD shares. BMO Capital Markets dropped their price target on Prologis from $105.00 to $95.00 and set an “outperform” rating for the company in a research note on Monday, April 14th. Wall Street Zen lowered Prologis from a “hold” rating to a “sell” rating in a research note on Saturday, June 14th. UBS Group increased their price target on Prologis from $106.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, July 8th. Wolfe Research lowered Prologis from an “outperform” rating to a “peer perform” rating in a research note on Monday, April 21st. Finally, CJS Securities dropped their price target on Prologis from $140.00 to $117.00 in a research note on Friday, April 11th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $120.74.

Prologis 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.