Segall Bryant & Hamill LLC Takes Position in Prologis, Inc. (NYSE:PLD)

Segall Bryant & Hamill LLC acquired a new stake in shares of Prologis, Inc. (NYSE:PLD) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 170,351 shares of the real estate investment trust’s stock, valued at approximately $21,512,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its position in Prologis by 2.5% in the second quarter. Dimensional Fund Advisors LP now owns 13,209,926 shares of the real estate investment trust’s stock worth $1,483,594,000 after buying an additional 317,815 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Prologis by 1.4% in the 2nd quarter. Principal Financial Group Inc. now owns 12,265,926 shares of the real estate investment trust’s stock worth $1,377,588,000 after buying an additional 167,131 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in shares of Prologis by 16.3% in the 2nd quarter. Daiwa Securities Group Inc. now owns 6,832,861 shares of the real estate investment trust’s stock worth $767,398,000 after buying an additional 958,914 shares during the last quarter. Lazard Asset Management LLC raised its position in shares of Prologis by 5.9% during the 1st quarter. Lazard Asset Management LLC now owns 6,126,318 shares of the real estate investment trust’s stock valued at $797,767,000 after buying an additional 340,948 shares in the last quarter. Finally, Capital Research Global Investors lifted its holdings in shares of Prologis by 0.8% in the 1st quarter. Capital Research Global Investors now owns 5,340,371 shares of the real estate investment trust’s stock valued at $695,423,000 after acquiring an additional 43,538 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Insider Activity

In related news, CIO Joseph Ghazal sold 5,200 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $129.07, for a total transaction of $671,164.00. Following the transaction, the executive now directly owns 13,187 shares of the company’s stock, valued at $1,702,046.09. This represents a 28.28 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.56% of the company’s stock.

Prologis Trading Up 0.4 %

Shares of NYSE:PLD opened at $115.13 on Wednesday. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $106.63 billion, a PE ratio of 34.78, a P/E/G ratio of 2.98 and a beta of 1.08. Prologis, Inc. has a 12-month low of $101.11 and a 12-month high of $137.52. The business’s fifty day simple moving average is $120.69 and its 200-day simple moving average is $118.30.

Prologis (NYSE:PLD) last released its quarterly 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 net margin of 39.08% and a return on equity of 5.34%. The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same period in the previous year, the company posted $1.30 earnings per share. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. As a group, equities research analysts predict that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

Prologis Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date was Monday, September 16th. Prologis’s payout ratio is presently 116.01%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on PLD shares. Truist Financial upped their price objective on Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Barclays upped their target price on Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research note on Monday. Bank of America reissued a “neutral” rating and set a $128.00 price target on shares of Prologis in a research note on Monday, August 12th. Royal Bank of Canada downgraded Prologis from an “outperform” rating to a “sector perform” rating and upped their price objective for the company from $124.00 to $127.00 in a research report on Monday, August 5th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $132.00 target price (down from $142.00) on shares of Prologis in a research report on Monday, October 21st. Eight research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $131.18.

Prologis Company 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.