Hennion & Walsh Asset Management Inc. Has $2.18 Million Stock Position in Prologis, Inc. $PLD

Hennion & Walsh Asset Management Inc. raised its holdings in shares of Prologis, Inc. (NYSE:PLD) by 30.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,048 shares of the real estate investment trust’s stock after acquiring 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.

Other institutional investors have also made changes to their positions in the company. Clayton Financial Group LLC bought a new position in Prologis in the third quarter valued at $26,000. Silver Oak Securities Incorporated bought a new stake in Prologis during the 3rd quarter worth about $36,000. Barrett & Company Inc. acquired a new position in shares of Prologis during the 2nd quarter worth about $44,000. Twin Peaks Wealth Advisors LLC bought a new position in shares of Prologis in the 2nd quarter valued at about $44,000. Finally, SJS Investment Consulting Inc. bought a new position in shares of Prologis in the 3rd quarter valued at about $44,000. Institutional investors own 93.50% of the company’s stock.

Analysts Set New Price Targets

PLD has been the topic of several analyst reports. Scotiabank upped 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. Mizuho boosted their price target on Prologis from $118.00 to $138.00 and gave the stock an “outperform” rating in a research report on Thursday, December 4th. BMO Capital Markets raised Prologis from an “underperform” rating to a “market perform” rating and set a $119.00 price objective for the company in a report on Monday, October 20th. BTIG Research raised their target price on shares of Prologis from $134.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, December 31st. Finally, UBS Group set a $138.00 target price on shares of Prologis in a report on Thursday, December 4th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $128.24.

Prologis Stock Performance

Shares of NYSE PLD opened at $126.90 on Thursday. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $117.87 billion, a P/E ratio of 37.00, a P/E/G ratio of 3.74 and a beta of 1.40. Prologis, Inc. has a 12 month low of $85.35 and a 12 month high of $131.70. The stock has a 50 day moving average of $126.98 and a 200-day moving average of $117.28.

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

Prologis Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th were paid 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 currently 117.78%.

Insider Activity

In related news, Director James B. Connor sold 80,000 shares of the company’s stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $126.58, for a total value of $10,126,400.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Cristina Gabriela Bita sold 621 shares of the stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $127.60, for a total transaction of $79,239.60. Following the completion of the transaction, the director directly owned 8,208 shares in the company, valued at approximately $1,047,340.80. This represents a 7.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 81,121 shares of company stock valued at $10,267,210 in the last ninety days. 0.57% of the stock is currently owned by insiders.

Prologis Company 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.