Prologis (NYSE:PLD)‘s stock had its “overweight” rating reiterated by investment analysts at Barclays in a note issued to investors on Friday. They currently have a $72.00 target price on the real estate investment trust’s stock. Barclays’ price objective points to a potential upside of 17.24% from the company’s previous close.
Several other equities analysts also recently weighed in on PLD. Citigroup raised their target price on Prologis from $63.00 to $66.00 and gave the company a “neutral” rating in a research report on Thursday, October 19th. Bank of America set a $72.00 target price on Prologis and gave the company a “buy” rating in a research report on Wednesday, October 25th. Wells Fargo & Co set a $65.00 target price on Prologis and gave the company a “hold” rating in a research report on Thursday, October 26th. Evercore ISI upgraded Prologis from an “in-line” rating to an “outperform” rating in a research report on Monday, December 4th. Finally, JPMorgan Chase & Co. downgraded Prologis from an “overweight” rating to a “neutral” rating and set a $66.00 target price on the stock. in a research report on Friday, December 15th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $67.56.
Shares of Prologis (NYSE:PLD) opened at $61.41 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.35 and a quick ratio of 0.80. Prologis has a 1-year low of $48.80 and a 1-year high of $67.53. The company has a market capitalization of $32,219.39, a P/E ratio of 20.07, a price-to-earnings-growth ratio of 4.55 and a beta of 0.83.
Prologis (NYSE:PLD) last issued its quarterly earnings data on Tuesday, January 23rd. The real estate investment trust reported $0.67 EPS for the quarter, beating the consensus estimate of $0.66 by $0.01. Prologis had a return on equity of 9.11% and a net margin of 63.11%. The company had revenue of $550.65 million for the quarter, compared to analyst estimates of $533.54 million. During the same period last year, the company earned $0.63 earnings per share. Prologis’s quarterly revenue was down 1.6% compared to the same quarter last year. equities research analysts anticipate that Prologis will post 2.9 EPS for the current year.
In related news, CEO Eugene F. Reilly sold 15,000 shares of Prologis stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $66.61, for a total transaction of $999,150.00. Following the transaction, the chief executive officer now owns 63,365 shares in the company, valued at $4,220,742.65. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Eugene F. Reilly sold 18,000 shares of Prologis stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $66.55, for a total value of $1,197,900.00. Following the transaction, the chief executive officer now owns 63,365 shares in the company, valued at approximately $4,216,940.75. The disclosure for this sale can be found here. In the last quarter, insiders have sold 103,872 shares of company stock worth $6,843,648. 1.31% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in PLD. Cubist Systematic Strategies LLC lifted its position in Prologis by 62.6% during the second quarter. Cubist Systematic Strategies LLC now owns 7,640 shares of the real estate investment trust’s stock worth $448,000 after buying an additional 2,940 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in Prologis by 7.2% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 9,289 shares of the real estate investment trust’s stock worth $545,000 after buying an additional 626 shares in the last quarter. Bank of Nova Scotia lifted its position in Prologis by 5.2% during the second quarter. Bank of Nova Scotia now owns 12,854 shares of the real estate investment trust’s stock worth $754,000 after buying an additional 630 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Prologis during the second quarter worth approximately $263,000. Finally, Achmea Investment Management B.V. lifted its position in Prologis by 42.6% during the second quarter. Achmea Investment Management B.V. now owns 53,197 shares of the real estate investment trust’s stock worth $3,118,000 after buying an additional 15,891 shares in the last quarter. Hedge funds and other institutional investors own 95.17% of the company’s stock.
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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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