Hennion & Walsh Asset Management Inc. Purchases 4,475 Shares of Prologis, Inc. $PLD

Hennion & Walsh Asset Management Inc. lifted its position in Prologis, Inc. (NYSE:PLD) by 30.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,048 shares of the real estate investment trust’s stock after purchasing an additional 4,475 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Prologis were worth $2,181,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of PLD. D.A. Davidson & CO. boosted its holdings in Prologis by 16.7% in the third quarter. D.A. Davidson & CO. now owns 587,157 shares of the real estate investment trust’s stock valued at $67,241,000 after acquiring an additional 83,966 shares during the last quarter. B. Riley Wealth Advisors Inc. bought a new position in shares of Prologis in the 2nd quarter valued at about $875,000. Generali Asset Management SPA SGR grew its position in shares of Prologis by 33.4% during the 3rd quarter. Generali Asset Management SPA SGR now owns 100,314 shares of the real estate investment trust’s stock worth $11,488,000 after buying an additional 25,133 shares during the period. Verity & Verity LLC raised its stake in shares of Prologis by 42.8% during the third quarter. Verity & Verity LLC now owns 165,438 shares of the real estate investment trust’s stock worth $18,946,000 after buying an additional 49,604 shares during the last quarter. Finally, DAVENPORT & Co LLC lifted its holdings in Prologis by 36.7% in the third quarter. DAVENPORT & Co LLC now owns 50,912 shares of the real estate investment trust’s stock valued at $5,830,000 after buying an additional 13,666 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Insider Buying and Selling at Prologis

In related news, Director Cristina Gabriela Bita sold 621 shares of the business’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $127.60, for a total value of $79,239.60. Following the sale, the director directly owned 8,208 shares of the company’s stock, valued at approximately $1,047,340.80. The trade was a 7.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director James B. Connor sold 80,000 shares of the company’s stock in a transaction on Friday, October 24th. The stock was sold at an average price of $126.58, for a total transaction of $10,126,400.00. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 81,121 shares of company stock worth $10,267,210 over the last ninety days. 0.57% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have commented on the stock. Bank of America upgraded shares of Prologis from a “neutral” rating to a “buy” rating and upped their target price for the company from $118.00 to $130.00 in a research report on Tuesday, September 16th. Evercore ISI upped their price objective on Prologis from $116.00 to $118.00 in a report on Monday, December 22nd. Scotiabank raised their target price on Prologis from $127.00 to $133.00 and gave the stock a “sector perform” rating in a report on Monday, November 10th. BTIG Research upped their price target on Prologis from $134.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, December 31st. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Prologis in a research report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat, Prologis currently has an average rating of “Moderate Buy” and an average price target of $128.24.

Prologis Stock Down 0.4%

Shares of Prologis stock opened at $126.90 on Thursday. The company has a market capitalization of $117.87 billion, a P/E ratio of 37.00, a price-to-earnings-growth ratio of 3.74 and a beta of 1.40. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.64 and a quick ratio of 0.64. The business has a 50-day moving average of $126.98 and a two-hundred day moving average of $117.28. Prologis, Inc. has a 1 year low of $85.35 and a 1 year high of $131.70.

Prologis (NYSE:PLD) last issued its quarterly earnings data on Tuesday, October 28th. The real estate investment trust reported $0.82 earnings per share (EPS) for the quarter. The business had revenue of $2.21 billion during the quarter. Prologis had a return on equity of 5.55% and a net margin of 36.71%. As a group, equities analysts predict that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th were issued a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Tuesday, December 16th. Prologis’s dividend payout ratio (DPR) is presently 117.78%.

Prologis Profile

Prologis, Inc is a real estate investment trust (REIT) specializing in logistics and distribution facilities. The company focuses on acquiring, developing, and managing high-quality industrial real estate assets that support supply chain infrastructure for third-party logistics providers, e-commerce businesses, retailers and manufacturers. Its portfolio primarily consists of warehouse and distribution centers designed to optimize goods movement and storage near key transportation hubs.

With a global presence, Prologis serves customers across the Americas, Europe and Asia Pacific.