Segall Bryant & Hamill LLC Invests $21.51 Million in Prologis, Inc. (NYSE:PLD)

Segall Bryant & Hamill LLC bought a new stake in Prologis, Inc. (NYSE:PLD - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 170,351 shares of the real estate investment trust's stock, valued at approximately $21,512,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Semmax Financial Advisors Inc. acquired a new position in Prologis in the 2nd quarter valued at about $27,000. American Capital Advisory LLC acquired a new position in Prologis during the 2nd quarter worth approximately $26,000. Central Valley Advisors LLC acquired a new position in Prologis during the 2nd quarter worth approximately $29,000. Sunbelt Securities Inc. increased its position in Prologis by 640.0% during the 2nd quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust's stock worth $29,000 after purchasing an additional 224 shares during the period. Finally, Wetzel Investment Advisors Inc. acquired a new position in Prologis during the 2nd quarter worth approximately $31,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CIO Joseph Ghazal sold 5,200 shares of Prologis stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $129.07, for a total transaction of $671,164.00. Following the sale, the executive now owns 13,187 shares in the company, valued at $1,702,046.09. This trade represents a 28.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.56% of the company's stock.

Wall Street Analyst Weigh In

PLD has been the subject of a number of recent analyst reports. Barclays raised their target price on Prologis from $131.00 to $132.00 and gave the company an "overweight" rating in a report on Monday. Morgan Stanley upped their target price on shares of Prologis from $132.00 to $133.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 14th. The Goldman Sachs Group reiterated a "neutral" rating and set a $132.00 price target (down from $142.00) on shares of Prologis in a research report on Monday, October 21st. Scotiabank decreased their price target on Prologis from $142.00 to $136.00 and set a "sector outperform" rating on the stock in a research note on Friday, October 25th. Finally, JPMorgan Chase & Co. dropped their price objective on Prologis from $138.00 to $131.00 and set an "overweight" rating for the company in a research note on Monday, October 21st. Eight investment 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's stock. According to data from MarketBeat, Prologis currently has an average rating of "Moderate Buy" and a consensus price target of $131.18.

Prologis Trading Down 0.9 %

Shares of NYSE PLD traded down $1.07 on Wednesday, reaching $114.06. 911,125 shares of the company traded hands, compared to its average volume of 3,633,901. Prologis, Inc. has a fifty-two week low of $101.11 and a fifty-two week high of $137.52. The company has a 50 day moving average of $120.69 and a 200 day moving average of $118.30. 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 stock has a market capitalization of $105.64 billion, a PE ratio of 34.78, a P/E/G ratio of 2.98 and a beta of 1.08.

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

Prologis Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors 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 yield of 3.37%. The ex-dividend date of this dividend was Monday, September 16th. Prologis's dividend payout ratio (DPR) is presently 116.01%.

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.