Harvest Fund Management Co. Ltd Has $479,000 Position in Prologis, Inc. (NYSE:PLD)

Harvest Fund Management Co. Ltd reduced its holdings in shares of Prologis, Inc. (NYSE:PLD) by 10.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,593 shares of the real estate investment trust’s stock after selling 410 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Prologis were worth $479,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of PLD. South Dakota Investment Council grew its stake in shares of Prologis by 4.1% in the 4th quarter. South Dakota Investment Council now owns 163,133 shares of the real estate investment trust’s stock valued at $21,746,000 after buying an additional 6,500 shares during the period. GAMMA Investing LLC acquired a new stake in shares of Prologis in the 4th quarter valued at about $688,000. RWA Wealth Partners LLC grew its stake in shares of Prologis by 6,946.1% in the 4th quarter. RWA Wealth Partners LLC now owns 153,676 shares of the real estate investment trust’s stock valued at $20,485,000 after buying an additional 151,495 shares during the period. Greenwich Wealth Management LLC acquired a new position in Prologis during the 4th quarter valued at about $212,000. Finally, Klingenstein Fields & Co. LP lifted its holdings in shares of Prologis by 1.1% in the fourth quarter. Klingenstein Fields & Co. LP now owns 189,702 shares of the real estate investment trust’s stock valued at $25,287,000 after purchasing an additional 2,062 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PLD has been the subject of a number of analyst reports. Evercore ISI lowered their price target on Prologis from $136.00 to $123.00 and set an “in-line” rating for the company in a research report on Thursday, April 18th. Robert W. Baird increased their price target on Prologis from $133.00 to $137.00 and gave the company a “neutral” rating in a research report on Tuesday, January 23rd. TheStreet upgraded Prologis from a “c+” rating to a “b-” rating in a research note on Friday, January 26th. Argus reduced their price objective on Prologis from $139.00 to $120.00 and set a “buy” rating for the company in a research note on Monday. Finally, The Goldman Sachs Group reduced their price objective on Prologis from $163.00 to $140.00 and set a “buy” rating for the company in a research note on Monday. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $135.41.

Prologis Price Performance

PLD traded down $1.65 during trading on Wednesday, reaching $103.18. 4,804,843 shares of the company were exchanged, compared to its average volume of 3,471,603. The company’s 50-day moving average is $126.79 and its two-hundred day moving average is $122.16. The company has a market cap of $95.45 billion, a price-to-earnings ratio of 30.66, a P/E/G ratio of 2.10 and a beta of 1.00. The company has a quick ratio of 0.30, a current ratio of 0.08 and a debt-to-equity ratio of 0.51. Prologis, Inc. has a 12-month low of $96.64 and a 12-month high of $137.52.

Prologis Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were issued a dividend of $0.96 per share. This is a boost from Prologis’s previous quarterly dividend of $0.87. The ex-dividend date was Friday, March 15th. This represents a $3.84 dividend on an annualized basis and a yield of 3.72%. Prologis’s dividend payout ratio is 112.28%.

Prologis Company Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 31, 2023, 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.