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

Segment Wealth Management LLC increased its holdings in Prologis, Inc. (NYSE:PLD) by 32.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,757 shares of the real estate investment trust’s stock after purchasing an additional 1,418 shares during the period. Segment Wealth Management LLC’s holdings in Prologis were worth $727,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Semmax Financial Advisors Inc. bought a new stake in Prologis during the second quarter valued at about $27,000. American Capital Advisory LLC bought a new stake in Prologis during the second quarter valued at about $26,000. Central Valley Advisors LLC bought a new stake in Prologis during the second quarter valued at about $29,000. Sunbelt Securities Inc. boosted its holdings in Prologis by 640.0% during the second quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 224 shares during the period. Finally, Wetzel Investment Advisors Inc. bought a new stake in Prologis during the second quarter valued at about $31,000. 93.50% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CIO Joseph Ghazal sold 5,200 shares of the 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 directly owns 13,187 shares of the company’s stock, valued at $1,702,046.09. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.50% of the stock is owned by insiders.

Prologis Stock Performance

NYSE PLD opened at $120.82 on Thursday. The firm has a market cap of $111.86 billion, a price-to-earnings ratio of 35.33, a PEG ratio of 3.05 and a beta of 1.07. The company has a 50 day moving average of $125.26 and a 200-day moving average of $117.54. 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.

Prologis (NYSE:PLD) last posted its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.29). The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. Prologis had a return on equity of 4.88% and a net margin of 36.37%. The business’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.30 EPS. On average, equities analysts forecast that Prologis, Inc. will post 5.42 earnings per share 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 issued a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 3.18%. The ex-dividend date was Monday, September 16th. Prologis’s payout ratio is 112.28%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on PLD shares. Scotiabank upped their price objective on shares of Prologis from $135.00 to $142.00 and gave the company a “sector outperform” rating in a research report on Monday, August 26th. BMO Capital Markets reaffirmed a “market perform” rating and set a $115.00 price objective on shares of Prologis in a research report on Monday, July 15th. Bank of America reaffirmed a “neutral” rating and set a $128.00 price objective on shares of Prologis in a research report on Monday, August 12th. Evercore ISI upped their price objective on shares of Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Finally, Morgan Stanley upped their price objective on shares of Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. Eight analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $131.47.

Prologis 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.