Hennion & Walsh Asset Management Inc. Sells 1,143 Shares of Prologis, Inc. (NYSE:PLD)

Hennion & Walsh Asset Management Inc. decreased its holdings in shares of Prologis, Inc. (NYSE:PLD) by 15.4% in the third quarter, Holdings Channel.com reports. The firm owned 6,298 shares of the real estate investment trust’s stock after selling 1,143 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Prologis were worth $795,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. American Capital Advisory LLC bought a new stake in shares of Prologis during the second quarter valued at approximately $26,000. Semmax Financial Advisors Inc. bought a new stake in shares of Prologis during the second quarter valued at approximately $27,000. Central Valley Advisors LLC bought a new stake in shares of Prologis during the second quarter valued at approximately $29,000. Sunbelt Securities Inc. increased its position in shares of 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 in the last quarter. Finally, Wetzel Investment Advisors Inc. bought a new stake in shares of Prologis during the second quarter valued at approximately $31,000. Institutional investors own 93.50% of the company’s stock.

Insider Buying and Selling

In related news, CIO Joseph Ghazal sold 5,200 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $129.07, for a total value of $671,164.00. Following the completion of the transaction, the executive now owns 13,187 shares of the company’s stock, valued at approximately $1,702,046.09. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. JPMorgan Chase & Co. cut their target price on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $132.00 target price (down previously from $142.00) on shares of Prologis in a research report on Monday, October 21st. Truist Financial lifted their target price on shares of Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Scotiabank cut their target price on shares of Prologis from $142.00 to $136.00 and set a “sector outperform” rating for the company in a research report on Friday. Finally, Evercore ISI lifted their target price on shares of Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Eight research 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’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $131.12.

Prologis Trading Down 2.4 %

Shares of PLD stock opened at $117.54 on Monday. The company has a market cap of $108.82 billion, a price-to-earnings ratio of 34.37, a PEG ratio of 3.05 and a beta of 1.07. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.36 and a quick ratio of 0.36. The firm has a fifty day moving average price of $125.06 and a 200-day moving average price of $117.41. Prologis, Inc. has a 1 year low of $96.64 and a 1 year high of $137.52.

Prologis (NYSE:PLD) last issued its earnings results 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 during the quarter, compared to the consensus estimate of $1.91 billion. Prologis had a return on equity of 4.88% and a net margin of 36.37%. The company’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.30 EPS. As a group, equities analysts predict that Prologis, Inc. will post 5.42 earnings per share for the current year.

Prologis Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 3.27%. The ex-dividend date was Monday, September 16th. Prologis’s dividend payout ratio is currently 112.28%.

Prologis Company 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.