Prologis, Inc. (NYSE:PLD) has been given a $72.00 target price by equities researchers at Bank of America Corporation in a report issued on Wednesday, October 25th. The firm presently has a “buy” rating on the real estate investment trust’s stock. Bank of America Corporation’s price target would suggest a potential upside of 8.73% from the company’s current price.
A number of other equities analysts have also commented on PLD. Stifel Nicolaus reissued a “buy” rating and issued a $60.00 price target on shares of Prologis in a research report on Thursday, July 6th. Evercore ISI reissued an “outperform” rating and issued a $64.00 price target (up previously from $61.00) on shares of Prologis in a research report on Friday, July 21st. Barclays PLC reissued an “overweight” rating and issued a $61.00 price target (up previously from $59.00) on shares of Prologis in a research report on Monday, July 24th. BidaskClub lowered shares of Prologis from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Finally, KeyCorp boosted their target price on shares of Prologis from $62.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, July 25th. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Prologis has an average rating of “Buy” and an average target price of $65.50.
Prologis (PLD) traded down $0.26 during trading hours on Wednesday, hitting $66.22. 1,587,600 shares of the stock were exchanged, compared to its average volume of 2,454,202. Prologis has a 12 month low of $45.93 and a 12 month high of $67.10. The company has a market capitalization of $35,372.81, a price-to-earnings ratio of 24.00, a price-to-earnings-growth ratio of 4.46 and a beta of 0.92. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.80 and a current ratio of 0.80.
Prologis (NYSE:PLD) last released its quarterly earnings results on Tuesday, October 17th. The real estate investment trust reported $0.67 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.67. Prologis had a net margin of 68.50% and a return on equity of 9.93%. The company had revenue of $531.18 million for the quarter, compared to analyst estimates of $573.68 million. During the same quarter last year, the firm posted $0.14 earnings per share. The company’s quarterly revenue was down 5.2% compared to the same quarter last year. research analysts expect that Prologis will post 2.8 EPS for the current fiscal year.
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Institutional investors have recently made changes to their positions in the business. Brookfield Asset Management Inc. bought a new stake in Prologis in the 1st quarter valued at $227,403,000. Wesbanco Bank Inc. boosted its stake in shares of Prologis by 76.9% in the 2nd quarter. Wesbanco Bank Inc. now owns 29,900 shares of the real estate investment trust’s stock valued at $1,753,000 after purchasing an additional 13,000 shares in the last quarter. Swiss National Bank boosted its stake in shares of Prologis by 3.2% in the 2nd quarter. Swiss National Bank now owns 1,933,060 shares of the real estate investment trust’s stock valued at $113,355,000 after purchasing an additional 60,000 shares in the last quarter. Cipher Capital LP boosted its stake in shares of Prologis by 98.1% in the 2nd quarter. Cipher Capital LP now owns 44,673 shares of the real estate investment trust’s stock valued at $2,620,000 after purchasing an additional 22,120 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its stake in shares of Prologis by 3,877.2% in the 2nd quarter. Lazard Asset Management LLC now owns 2,533,654 shares of the real estate investment trust’s stock valued at $148,573,000 after purchasing an additional 2,469,949 shares in the last quarter. 95.74% of the stock is currently owned by hedge funds and other institutional investors.
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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