Chartwell Investment Partners LLC Has $6.25 Million Stock Position in Prologis, Inc. (NYSE:PLD)

Chartwell Investment Partners LLC raised its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 10.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 49,492 shares of the real estate investment trust's stock after purchasing an additional 4,482 shares during the quarter. Chartwell Investment Partners LLC's holdings in Prologis were worth $6,250,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in PLD. ASB Consultores LLC lifted its holdings in Prologis by 3.7% in the third quarter. ASB Consultores LLC now owns 2,423 shares of the real estate investment trust's stock valued at $306,000 after buying an additional 86 shares during the period. Arbor Capital Management Inc. ADV raised its position in shares of Prologis by 0.8% in the second quarter. Arbor Capital Management Inc. ADV now owns 11,602 shares of the real estate investment trust's stock valued at $1,299,000 after purchasing an additional 87 shares during the period. CX Institutional grew its stake in shares of Prologis by 2.7% in the third quarter. CX Institutional now owns 3,347 shares of the real estate investment trust's stock valued at $423,000 after acquiring an additional 88 shares in the last quarter. Mitchell Sinkler & Starr PA lifted its position in Prologis by 5.1% during the second quarter. Mitchell Sinkler & Starr PA now owns 1,860 shares of the real estate investment trust's stock worth $228,000 after purchasing an additional 90 shares during the period. Finally, Destination Wealth Management raised its stake in Prologis by 4.7% during the second quarter. Destination Wealth Management now owns 2,033 shares of the real estate investment trust's stock worth $228,000 after acquiring an additional 92 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company's stock.

Prologis Stock Performance

Shares of PLD traded down $1.35 during mid-day trading on Tuesday, hitting $112.75. The stock had a trading volume of 2,674,733 shares, compared to its average volume of 3,643,388. Prologis, Inc. has a fifty-two week low of $101.11 and a fifty-two week high of $137.52. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.56. The company has a market cap of $104.43 billion, a PE ratio of 34.47, a PEG ratio of 3.04 and a beta of 1.08. The company's fifty day simple moving average is $122.42 and its two-hundred day simple moving average is $117.85.

Prologis (NYSE:PLD - Get Free Report) last released its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share for the quarter, missing analysts' consensus estimates of $1.37 by ($0.29). The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. Prologis had a return on equity of 5.34% and a net margin of 39.08%. The firm's revenue was up 6.9% on a year-over-year basis. During the same period last year, the business earned $1.30 EPS. On average, equities analysts expect that Prologis, Inc. will post 5.45 earnings per share for the current year.

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 3.41%. The ex-dividend date was Monday, September 16th. Prologis's dividend payout ratio (DPR) is presently 116.01%.

Insider Buying and Selling

In related news, CIO Joseph Ghazal sold 5,200 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $129.07, for a total value of $671,164.00. Following the completion of the transaction, the executive now owns 13,187 shares in the company, valued at $1,702,046.09. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on PLD shares. BMO Capital Markets reaffirmed a "market perform" rating and set a $115.00 target price on shares of Prologis in a research note on Monday, July 15th. The Goldman Sachs Group restated a "neutral" rating and issued a $132.00 target price (down previously from $142.00) on shares of Prologis in a research note on Monday, October 21st. Argus lifted their target price on shares of Prologis from $120.00 to $135.00 and gave the company a "buy" rating in a research report on Tuesday, July 23rd. Scotiabank lowered their target price on Prologis from $142.00 to $136.00 and set a "sector outperform" rating for the company in a research note on Friday, October 25th. Finally, Evercore ISI upped their target price on Prologis from $124.00 to $128.00 and gave the company an "in-line" rating in a report on Monday, September 16th. Eight equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $131.12.

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.