HGK Asset Management Inc. Has $246,000 Holdings in Prologis, Inc. (PLD)

HGK Asset Management Inc. maintained its stake in shares of Prologis, Inc. (NYSE:PLD) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,188 shares of the real estate investment trust’s stock at the end of the second quarter. HGK Asset Management Inc.’s holdings in Prologis were worth $246,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Guardian Life Insurance Co. of America grew its holdings in Prologis by 0.7% during the 1st quarter. Guardian Life Insurance Co. of America now owns 2,039 shares of the real estate investment trust’s stock worth $106,000 after acquiring an additional 14 shares in the last quarter. Shine Investment Advisory Services Inc. lifted its position in shares of Prologis by 0.6% in the 2nd quarter. Shine Investment Advisory Services Inc. now owns 8,929 shares of the real estate investment trust’s stock worth $524,000 after buying an additional 52 shares during the last quarter. Creative Planning lifted its position in shares of Prologis by 3.4% in the 2nd quarter. Creative Planning now owns 2,078 shares of the real estate investment trust’s stock worth $122,000 after buying an additional 69 shares during the last quarter. LS Investment Advisors LLC lifted its position in shares of Prologis by 0.5% in the 2nd quarter. LS Investment Advisors LLC now owns 15,478 shares of the real estate investment trust’s stock worth $908,000 after buying an additional 76 shares during the last quarter. Finally, BKD Wealth Advisors LLC lifted its position in shares of Prologis by 1.3% in the 2nd quarter. BKD Wealth Advisors LLC now owns 6,091 shares of the real estate investment trust’s stock worth $357,000 after buying an additional 77 shares during the last quarter. 96.00% of the stock is owned by institutional investors.

Shares of Prologis, Inc. (PLD) opened at 64.38 on Wednesday. The company has a market capitalization of $34.24 billion, a P/E ratio of 28.90 and a beta of 0.93. The company has a 50-day moving average of $61.86 and a 200 day moving average of $56.57. Prologis, Inc. has a 12 month low of $45.93 and a 12 month high of $65.13.

Prologis (NYSE:PLD) last posted its earnings results on Tuesday, July 18th. The real estate investment trust reported $0.84 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.06. Prologis had a net margin of 43.99% and a return on equity of 6.65%. The business had revenue of $766.18 million for the quarter, compared to analyst estimates of $576.00 million. During the same quarter in the prior year, the firm earned $0.60 EPS. The firm’s quarterly revenue was up 27.2% compared to the same quarter last year. Analysts forecast that Prologis, Inc. will post ($0.27) EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Monday, September 18th will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 2.72%. The ex-dividend date of this dividend is Friday, September 15th. Prologis’s payout ratio is 79.28%.

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In related news, Director Carl B. Webb sold 20,000 shares of the company’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $61.38, for a total transaction of $1,227,600.00. Following the transaction, the director now owns 66,078 shares in the company, valued at approximately $4,055,867.64. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Gary E. Anderson sold 65,000 shares of the company’s stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $58.55, for a total transaction of $3,805,750.00. The disclosure for this sale can be found here. 1.31% of the stock is currently owned by corporate insiders.

PLD has been the topic of a number of recent research reports. KeyCorp restated a “buy” rating and issued a $65.00 price target on shares of Prologis in a research report on Sunday, August 27th. BidaskClub upgraded shares of Prologis from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. Bank of America Corporation upgraded shares of Prologis from a “neutral” rating to a “buy” rating and raised their price target for the stock from $58.00 to $65.00 in a research report on Friday, June 23rd. Stifel Nicolaus restated a “buy” rating and issued a $60.00 price target on shares of Prologis in a research report on Thursday, July 6th. Finally, Zacks Investment Research upgraded shares of Prologis from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a research report on Wednesday, June 14th. Four equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Prologis presently has a consensus rating of “Buy” and an average price target of $60.56.

Prologis Company Profile

Prologis, Inc is a real estate investment trust (REIT) company. The Company is engaged in logistics real estate business. The Company’s segments include Real Estate Operations and Strategic Capital. The Real estate operations segment consists of rental operations and development. The Company’s strategic capital segment includes asset management services, as well as services performed for unconsolidated co-investment ventures.

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Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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