Prologis, Inc. (PLD) Given a $65.00 Price Target at Wells Fargo & Company

Wells Fargo & Company set a $65.00 price target on Prologis, Inc. (NYSE:PLD) in a report issued on Thursday morning. The brokerage currently has a hold rating on the real estate investment trust’s stock.

Other analysts have also recently issued reports about the stock. Stifel Nicolaus reaffirmed a buy rating and set a $60.00 price objective on shares of Prologis in a research note on Thursday, July 6th. KeyCorp upped their price objective on shares of Prologis from $62.00 to $65.00 and gave the stock a buy rating in a research note on Tuesday, July 25th. SunTrust Banks, Inc. raised shares of Prologis from a hold rating to a buy rating and set a $58.00 price objective on the stock in a research note on Tuesday, September 5th. BidaskClub raised shares of Prologis from a hold rating to a buy rating in a research note on Tuesday, August 1st. Finally, Zacks Investment Research raised shares of Prologis from a hold rating to a buy rating and set a $69.00 price objective on the stock in a research note on Monday, July 31st. Four 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. The stock currently has a consensus rating of Buy and a consensus price target of $64.31.

Prologis (PLD) traded up 0.65% during midday trading on Thursday, hitting $64.69. The stock had a trading volume of 1,304,435 shares. The company has a market cap of $35.85 billion, a PE ratio of 19.39 and a beta of 0.92. Prologis has a 52 week low of $45.93 and a 52 week high of $65.63. The stock’s 50 day moving average price is $64.34 and its 200-day moving average price is $59.61.

Prologis (NYSE:PLD) last issued its quarterly earnings data on Tuesday, October 17th. The real estate investment trust reported $0.67 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.67. The firm had revenue of $531.18 million for the quarter, compared to analysts’ expectations of $573.68 million. Prologis had a net margin of 68.50% and a return on equity of 9.92%. The company’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.14 earnings per share. Equities research analysts predict that Prologis will post ($0.27) earnings per share for the current year.

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The business also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Monday, September 18th were paid a dividend of $0.44 per share. The ex-dividend date was Friday, September 15th. This represents a $1.76 annualized dividend and a dividend yield of 2.72%. Prologis’s dividend payout ratio (DPR) is currently 52.85%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. HighTower Advisors LLC lifted its holdings in Prologis by 3.0% in the first quarter. HighTower Advisors LLC now owns 157,608 shares of the real estate investment trust’s stock valued at $8,207,000 after buying an additional 4,558 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd. lifted its holdings in Prologis by 17.7% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 20,959 shares of the real estate investment trust’s stock valued at $1,087,000 after buying an additional 3,159 shares during the period. Janus Capital Management LLC lifted its holdings in Prologis by 25.0% in the first quarter. Janus Capital Management LLC now owns 4,074,595 shares of the real estate investment trust’s stock valued at $211,390,000 after buying an additional 813,643 shares during the period. Point72 Asset Management L.P. lifted its holdings in Prologis by 7.0% in the first quarter. Point72 Asset Management L.P. now owns 350,000 shares of the real estate investment trust’s stock valued at $18,158,000 after buying an additional 22,900 shares during the period. Finally, Summit Global Investments lifted its holdings in Prologis by 9.0% in the first quarter. Summit Global Investments now owns 10,250 shares of the real estate investment trust’s stock valued at $532,000 after buying an additional 850 shares during the period. 95.85% of the stock is currently owned by institutional investors and hedge funds.

About Prologis

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.

Analyst Recommendations for Prologis (NYSE:PLD)

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