Segall Bryant & Hamill LLC Has $17.07 Million Stake in Prologis, Inc. (NYSE:PLD)

Segall Bryant & Hamill LLC reduced its holdings in Prologis, Inc. (NYSE:PLD) by 5.2% during the 4th quarter, HoldingsChannel reports. The firm owned 161,519 shares of the real estate investment trust’s stock after selling 8,832 shares during the quarter. Segall Bryant & Hamill LLC’s holdings in Prologis were worth $17,073,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Syntax Research Inc. boosted its stake in Prologis by 7.8% during the 4th quarter. Syntax Research Inc. now owns 34,064 shares of the real estate investment trust’s stock valued at $3,601,000 after purchasing an additional 2,462 shares during the period. Congress Wealth Management LLC DE lifted its holdings in shares of Prologis by 7.4% during the fourth quarter. Congress Wealth Management LLC DE now owns 20,930 shares of the real estate investment trust’s stock worth $2,212,000 after buying an additional 1,449 shares during the last quarter. Cannon Global Investment Management LLC acquired a new position in shares of Prologis during the fourth quarter worth approximately $613,000. Crowley Wealth Management Inc. bought a new stake in shares of Prologis in the fourth quarter valued at approximately $27,000. Finally, LPL Financial LLC grew its stake in shares of Prologis by 16.8% in the fourth quarter. LPL Financial LLC now owns 951,459 shares of the real estate investment trust’s stock worth $100,569,000 after acquiring an additional 136,545 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Prologis

In other news, CIO Joseph Ghazal sold 10,997 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total value of $1,305,783.78. Following the completion of the sale, the executive now directly owns 7,977 shares in the company, valued at approximately $947,188.98. This trade represents a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.50% of the company’s stock.

Prologis Stock Performance

NYSE PLD opened at $109.32 on Wednesday. Prologis, Inc. has a 1-year low of $100.82 and a 1-year high of $132.57. The company has a 50 day moving average of $117.66 and a 200-day moving average of $116.67. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. The firm has a market cap of $101.32 billion, a price-to-earnings ratio of 27.33, a PEG ratio of 2.70 and a beta of 1.09.

Prologis Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be issued a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 3.70%. This is a boost from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend is Tuesday, March 18th. Prologis’s dividend payout ratio (DPR) is currently 101.00%.

Analysts Set New Price Targets

Several research firms recently commented on PLD. Mizuho cut their target price on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. BNP Paribas raised shares of Prologis to a “strong-buy” rating in a research report on Wednesday, January 22nd. Truist Financial lifted their target price on Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Baird R W raised Prologis from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Finally, BMO Capital Markets lowered Prologis from a “market perform” rating to an “underperform” rating and decreased their price objective for the stock from $120.00 to $104.00 in a report on Friday, December 6th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Prologis currently has a consensus rating of “Moderate Buy” and an average price target of $128.78.

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.