Prologis (PLD) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research downgraded shares of Prologis (NYSE:PLD) from a hold rating to a sell rating in a research report report published on Tuesday, December 26th.

According to Zacks, “Shares of Prologis have underperformed the industry it belongs to, in the past month. Moreover, the stock has seen the Zacks Consensus Estimate for fourth-quarter 2017 funds from operations (FFO) per share being revised downward over the same time frame. Notably, the industrial real estate market is enjoying elevated demand for logistics infrastructure amid an e-commerce boom, recovering economy and job market as well as healthy manufacturing environment. However, a whole lot of new buildings are slated to be completed and made available in the market in the near term, leading to higher supply and lesser scope for rent and occupancy growth. Also, rate hike have added to the company’s woes. Nevertheless, the company has balance sheet strength and capacity to offer modern distribution facilities in strategic infill locations.”

Other equities research analysts also recently issued reports about the stock. BTIG Research reaffirmed a buy rating and set a $68.00 target price (up from $62.00) on shares of Prologis in a research note on Wednesday, September 27th. KeyCorp reaffirmed a buy rating and set a $72.00 target price on shares of Prologis in a research note on Thursday, December 21st. SunTrust Banks reaffirmed a buy rating and set a $68.00 target price on shares of Prologis in a research note on Thursday, October 12th. BMO Capital Markets set a $69.00 target price on shares of Prologis and gave the stock a buy rating in a research note on Tuesday, October 17th. Finally, Stifel Nicolaus reaffirmed a buy rating and set a $65.00 target price on shares of Prologis in a research note on Thursday, September 21st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, nine 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 $66.57.

Shares of Prologis (NYSE:PLD) traded down $1.43 during mid-day trading on Tuesday, hitting $61.43. 3,680,733 shares of the stock traded hands, compared to its average volume of 2,389,892. 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 has a 52-week low of $48.33 and a 52-week high of $67.53. The firm has a market cap of $32,690.00, a price-to-earnings ratio of 18.45, a P/E/G ratio of 3.98 and a beta of 0.92.

Prologis (NYSE:PLD) last issued its quarterly earnings data on Tuesday, October 17th. The real estate investment trust reported $0.67 EPS for the quarter, hitting the consensus estimate of $0.67. Prologis had a net margin of 68.50% and a return on equity of 9.93%. The firm had revenue of $531.18 million for the quarter, compared to analyst estimates of $573.68 million. During the same period in the prior year, the business posted $0.14 EPS. The business’s revenue for the quarter was down 5.2% compared to the same quarter last year. analysts forecast that Prologis will post 2.8 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Monday, December 18th were paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date was Friday, December 15th. Prologis’s dividend payout ratio is currently 52.85%.

In other news, insider Lori A. Palazzolo sold 4,900 shares of the firm’s stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $65.89, for a total value of $322,861.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Edward S. Nekritz sold 15,752 shares of the firm’s stock in a transaction on Thursday, December 28th. The stock was sold at an average price of $64.51, for a total transaction of $1,016,161.52. Following the completion of the sale, the insider now owns 146,414 shares of the company’s stock, valued at approximately $9,445,167.14. The disclosure for this sale can be found here. In the last quarter, insiders have sold 99,852 shares of company stock valued at $6,600,519. 1.31% of the stock is owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in PLD. Capital World Investors lifted its stake in shares of Prologis by 181.4% in the 2nd quarter. Capital World Investors now owns 6,640,000 shares of the real estate investment trust’s stock worth $389,370,000 after acquiring an additional 4,280,000 shares during the period. Lazard Asset Management LLC lifted 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 worth $148,573,000 after acquiring an additional 2,469,949 shares during the period. Janus Henderson Group PLC increased its holdings in shares of Prologis by 2,672.5% in the 2nd quarter. Janus Henderson Group PLC now owns 1,985,678 shares of the real estate investment trust’s stock valued at $116,440,000 after purchasing an additional 1,914,058 shares in the last quarter. APG Asset Management US Inc. increased its holdings in shares of Prologis by 8.0% in the 3rd quarter. APG Asset Management US Inc. now owns 17,942,319 shares of the real estate investment trust’s stock valued at $1,138,620,000 after purchasing an additional 1,330,850 shares in the last quarter. Finally, Cbre Clarion Securities LLC increased its holdings in shares of Prologis by 8.7% in the 2nd quarter. Cbre Clarion Securities LLC now owns 8,902,292 shares of the real estate investment trust’s stock valued at $522,030,000 after purchasing an additional 709,311 shares in the last quarter. Institutional investors own 95.38% of the company’s stock.

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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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