Stock Traders Buy High Volume of Prologis Put Options (NYSE:PLD)

Prologis Inc (NYSE:PLD) saw some unusual options trading activity on Thursday. Stock investors purchased 1,756 put options on the company. This is an increase of approximately 2,409% compared to the typical volume of 70 put options.

A number of brokerages have issued reports on PLD. KeyCorp reissued a “buy” rating and set a $72.00 target price on shares of Prologis in a research note on Thursday, December 21st. Cantor Fitzgerald set a $69.00 target price on shares of Prologis and gave the company a “buy” rating in a research note on Tuesday, January 23rd. Barclays lifted their price objective on shares of Prologis from $61.00 to $64.00 and gave the company an “overweight” rating in a research note on Tuesday, January 30th. BMO Capital Markets set a $68.00 price objective on shares of Prologis and gave the company a “buy” rating in a research note on Tuesday, January 23rd. Finally, Robert W. Baird lifted their price objective on shares of Prologis from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $67.06.

Prologis (NYSE PLD) traded down $0.17 during trading on Monday, reaching $60.15. 3,145,240 shares of the company’s stock were exchanged, compared to its average volume of 2,885,883. The firm has a market cap of $32,102.30, a price-to-earnings ratio of 19.66, a price-to-earnings-growth ratio of 3.84 and a beta of 0.83. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.80 and a current ratio of 0.35. Prologis has a 52-week low of $48.80 and a 52-week high of $67.53.

Prologis (NYSE:PLD) last released its earnings results on Tuesday, January 23rd. The real estate investment trust reported $0.67 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.01. The firm had revenue of $550.65 million during the quarter, compared to analyst estimates of $533.54 million. Prologis had a net margin of 63.11% and a return on equity of 9.11%. The business’s revenue was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.63 EPS. analysts forecast that Prologis will post 2.9 earnings per share for the current year.

In other Prologis news, Director William D. Zollars sold 4,020 shares of Prologis stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $60.48, for a total transaction of $243,129.60. Following the completion of the sale, the director now owns 20,225 shares of the company’s stock, valued at approximately $1,223,208. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Eugene F. Reilly sold 18,000 shares of Prologis stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $66.55, for a total transaction of $1,197,900.00. Following the sale, the chief executive officer now directly owns 63,365 shares of the company’s stock, valued at approximately $4,216,940.75. The disclosure for this sale can be found here. Insiders have sold a total of 103,872 shares of company stock valued at $6,843,648 in the last three months. Company insiders own 1.31% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. Carillon Tower Advisers Inc. acquired a new position in Prologis during the 4th quarter worth $12,915,000. Martingale Asset Management L P lifted its position in Prologis by 36.7% during the 4th quarter. Martingale Asset Management L P now owns 479,869 shares of the real estate investment trust’s stock worth $30,957,000 after acquiring an additional 128,912 shares during the last quarter. Timber Hill LLC lifted its position in Prologis by 89.7% during the 4th quarter. Timber Hill LLC now owns 17,312 shares of the real estate investment trust’s stock worth $1,117,000 after acquiring an additional 8,186 shares during the last quarter. Norinchukin Bank The lifted its position in Prologis by 7.5% during the 4th quarter. Norinchukin Bank The now owns 42,542 shares of the real estate investment trust’s stock worth $2,744,000 after acquiring an additional 2,956 shares during the last quarter. Finally, ARP Americas LP acquired a new position in Prologis during the 4th quarter worth $1,271,000. 95.17% of the stock is owned by hedge funds and other institutional investors.

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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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