Hennion & Walsh Asset Management Inc. Purchases 4,017 Shares of Prologis, Inc. (NYSE:PLD)

Posted by Defense World Staff on Mar 22nd, 2023

Prologis logo Hennion & Walsh Asset Management Inc. raised its position in shares of Prologis, Inc. (NYSE:PLD – Get Rating) by 23.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,972 shares of the real estate investment trust’s stock after purchasing an additional 4,017 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Prologis were worth $2,364,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Financial Management Professionals Inc. grew its holdings in Prologis by 69.2% during the fourth quarter. Financial Management Professionals Inc. now owns 269 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 110 shares during the period. Dakota Community Bank & Trust NA bought a new position in Prologis during the fourth quarter valued at $39,000. HHM Wealth Advisors LLC grew its holdings in Prologis by 115.3% during the third quarter. HHM Wealth Advisors LLC now owns 351 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 188 shares during the period. MV Capital Management Inc. grew its holdings in Prologis by 98.9% during the third quarter. MV Capital Management Inc. now owns 360 shares of the real estate investment trust’s stock valued at $37,000 after purchasing an additional 179 shares during the period. Finally, American National Bank lifted its position in shares of Prologis by 113.4% during the fourth quarter. American National Bank now owns 397 shares of the real estate investment trust’s stock worth $45,000 after acquiring an additional 211 shares in the last quarter. 75.84% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PLD has been the topic of several recent research reports. Mizuho initiated coverage on Prologis in a research report on Monday. They set a “buy” rating and a $140.00 target price on the stock. Raymond James increased their target price on Prologis from $130.00 to $145.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, February 1st. The Goldman Sachs Group initiated coverage on Prologis in a research report on Tuesday. They set a “buy” rating and a $147.00 target price on the stock. StockNews.com upgraded Prologis from a “sell” rating to a “hold” rating in a research report on Monday. Finally, Truist Financial increased their target price on Prologis from $135.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, January 26th. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $144.85.

Prologis Stock Down 0.3 %

PLD opened at $118.36 on Wednesday. The stock has a market cap of $109.30 billion, a PE ratio of 27.21, a P/E/G ratio of 2.96 and a beta of 0.99. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.41. Prologis, Inc. has a 52 week low of $98.03 and a 52 week high of $174.54. The business’s fifty day simple moving average is $124.61 and its 200 day simple moving average is $116.49.

Prologis (NYSE:PLD – Get Rating) last released its earnings results on Wednesday, January 18th. The real estate investment trust reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.03. The business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.46 billion. Prologis had a return on equity of 7.71% and a net margin of 56.33%. The firm’s revenue was up 37.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.12 earnings per share. As a group, research analysts expect that Prologis, Inc. will post 5.52 earnings per share for the current fiscal year.

Prologis Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Friday, March 17th will be paid a dividend of $0.87 per share. This is a boost from Prologis’s previous quarterly dividend of $0.79. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date is Thursday, March 16th. Prologis’s dividend payout ratio (DPR) is 80.00%.

Prologis Profile

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Prologis, Inc engages in providing logistics solutions and services. It operates through the Real Estate and Strategic Capital segments. The Real Estate segment includes rental operations and development. The Strategic Capital segment represents the management of co-investment ventures and other unconsolidated entities.