Prologis, Inc. $PLD Shares Purchased by Bar Harbor Wealth Management

Bar Harbor Wealth Management boosted its stake in Prologis, Inc. (NYSE:PLD) by 11.1% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 18,014 shares of the real estate investment trust’s stock after acquiring an additional 1,798 shares during the quarter. Bar Harbor Wealth Management’s holdings in Prologis were worth $1,894,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in Prologis by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 121,339,410 shares of the real estate investment trust’s stock valued at $13,564,533,000 after acquiring an additional 869,310 shares during the period. Nuveen LLC purchased a new position in Prologis in the 1st quarter valued at $1,456,768,000. Charles Schwab Investment Management Inc. lifted its holdings in Prologis by 0.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 10,495,932 shares of the real estate investment trust’s stock valued at $1,173,340,000 after purchasing an additional 93,201 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Prologis by 13.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,965,037 shares of the real estate investment trust’s stock valued at $1,113,994,000 after purchasing an additional 1,146,454 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in Prologis by 7.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 7,790,241 shares of the real estate investment trust’s stock valued at $870,871,000 after purchasing an additional 507,367 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analyst Upgrades and Downgrades

PLD has been the topic of a number of research reports. Wall Street Zen lowered Prologis from a “hold” rating to a “sell” rating in a report on Saturday, June 14th. Scotiabank set a $114.00 price objective on Prologis and gave the company a “sector perform” rating in a report on Wednesday, August 27th. Citigroup decreased their price objective on Prologis from $150.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, July 23rd. Bank of America upgraded Prologis from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $118.00 to $130.00 in a report on Tuesday, September 16th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Prologis in a report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $122.58.

Prologis Stock Up 0.1%

Shares of NYSE:PLD opened at $116.07 on Thursday. The business has a 50-day moving average price of $111.51 and a 200 day moving average price of $107.74. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $107.79 billion, a price-to-earnings ratio of 31.46, a PEG ratio of 2.93 and a beta of 1.28. Prologis, Inc. has a 12-month low of $85.35 and a 12-month high of $127.65.

Prologis (NYSE:PLD) last issued its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.05. The firm had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.03 billion. Prologis had a return on equity of 5.96% and a net margin of 40.29%.The company’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period last year, the company earned $1.34 EPS. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. Sell-side analysts expect that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were given a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend was Tuesday, September 16th. Prologis’s dividend payout ratio (DPR) is presently 109.49%.

Insider Transactions at Prologis

In related news, CAO Lori A. Palazzolo sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $111.33, for a total transaction of $2,783,250.00. Following the completion of the sale, the chief accounting officer directly owned 414 shares of the company’s stock, valued at approximately $46,090.62. This trade represents a 98.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Cristina Gabriela Bita sold 500 shares of Prologis stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $115.69, for a total value of $57,845.00. Following the completion of the transaction, the director directly owned 9,329 shares of the company’s stock, valued at approximately $1,079,272.01. This represents a 5.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,500 shares of company stock valued at $2,952,095 over the last three months. Corporate insiders own 0.57% of the company’s stock.

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.