Segment Wealth Management LLC Acquires 1,418 Shares of Prologis, Inc. (NYSE:PLD)

Segment Wealth Management LLC raised its holdings in Prologis, Inc. (NYSE:PLD) by 32.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,757 shares of the real estate investment trust’s stock after acquiring an additional 1,418 shares during the quarter. Segment Wealth Management LLC’s holdings in Prologis were worth $727,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. RBA Wealth Management LLC boosted its stake in Prologis by 7.9% in the third quarter. RBA Wealth Management LLC now owns 36,987 shares of the real estate investment trust’s stock valued at $4,671,000 after acquiring an additional 2,713 shares during the last quarter. Eastern Bank boosted its stake in Prologis by 153.0% in the third quarter. Eastern Bank now owns 371,362 shares of the real estate investment trust’s stock valued at $46,896,000 after acquiring an additional 224,579 shares during the last quarter. Signaturefd LLC boosted its position in shares of Prologis by 11.5% during the third quarter. Signaturefd LLC now owns 14,647 shares of the real estate investment trust’s stock worth $1,850,000 after purchasing an additional 1,514 shares in the last quarter. Sequoia Financial Advisors LLC boosted its position in shares of Prologis by 37.8% during the third quarter. Sequoia Financial Advisors LLC now owns 14,330 shares of the real estate investment trust’s stock worth $1,810,000 after purchasing an additional 3,929 shares in the last quarter. Finally, Graybill Wealth Management LTD. boosted its position in shares of Prologis by 0.8% during the third quarter. Graybill Wealth Management LTD. now owns 31,780 shares of the real estate investment trust’s stock worth $4,013,000 after purchasing an additional 259 shares in the last quarter. 93.50% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on PLD. Scotiabank lifted their price target on shares of Prologis from $135.00 to $142.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 26th. Bank of America reissued a “neutral” rating and set a $128.00 price target on shares of Prologis in a research report on Monday, August 12th. Royal Bank of Canada cut shares of Prologis from an “outperform” rating to a “sector perform” rating and lifted their price target for the stock from $124.00 to $127.00 in a research report on Monday, August 5th. BMO Capital Markets reissued a “market perform” rating and set a $115.00 price target on shares of Prologis in a research report on Monday, July 15th. Finally, StockNews.com upgraded shares of Prologis from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Eight equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $131.47.

Prologis Stock Up 1.6 %

Shares of PLD stock opened at $120.82 on Thursday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.52. Prologis, Inc. has a 1 year low of $96.64 and a 1 year high of $137.52. The firm’s fifty day moving average price is $125.26 and its two-hundred day moving average price is $117.54. The firm has a market capitalization of $111.86 billion, a P/E ratio of 35.33, a PEG ratio of 3.05 and a beta of 1.07.

Prologis (NYSE:PLD) last issued its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.29). Prologis had a net margin of 36.37% and a return on equity of 4.88%. The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same quarter in the previous year, the firm posted $1.30 earnings per share. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. On average, equities analysts predict that Prologis, Inc. will post 5.42 EPS for the current fiscal year.

Prologis Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date was Monday, September 16th. Prologis’s dividend payout ratio (DPR) is presently 112.28%.

Insider Activity

In other news, CIO Joseph Ghazal sold 5,200 shares of Prologis stock in a transaction dated Friday, August 23rd. The shares were 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 of the company’s stock, valued at $1,702,046.09. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.50% of the company’s stock.

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.