Prologis Sees Unusually High Options Volume (NYSE:PLD)

Prologis (NYSE:PLD) was the target of some unusual options trading on Wednesday. Investors bought 5,091 call options on the stock. This represents an increase of 2,113% compared to the average volume of 230 call options.

A number of equities research analysts have weighed in on the company. Citigroup upgraded Prologis from a “neutral” rating to a “buy” rating and set a $72.00 price objective for the company in a research note on Friday. ValuEngine upgraded Prologis from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. JPMorgan Chase upgraded Prologis from a “neutral” rating to an “overweight” rating in a research note on Tuesday, March 27th. Barclays restated an “overweight” rating and set a $72.00 price objective on shares of Prologis in a research note on Friday, February 16th. Finally, Robert W. Baird raised their price objective on Prologis from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Prologis presently has an average rating of “Buy” and an average target price of $67.94.

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In other Prologis news, insider Michael S. Curless sold 14,465 shares of the firm’s stock in a transaction that occurred on Wednesday, March 28th. The stock was sold at an average price of $62.49, for a total transaction of $903,917.85. Following the completion of the sale, the insider now owns 102 shares in the company, valued at approximately $6,373.98. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director William D. Zollars sold 4,020 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $60.48, for a total value of $243,129.60. Following the sale, the director now owns 20,225 shares of the company’s stock, valued at approximately $1,223,208. The disclosure for this sale can be found here. Company insiders own 1.31% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in Prologis by 0.8% during the 4th quarter. BlackRock Inc. now owns 53,388,532 shares of the real estate investment trust’s stock valued at $3,444,094,000 after purchasing an additional 430,576 shares during the period. JPMorgan Chase & Co. boosted its position in Prologis by 4.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 11,786,598 shares of the real estate investment trust’s stock valued at $749,039,000 after purchasing an additional 463,559 shares during the period. Bank of New York Mellon Corp boosted its position in Prologis by 0.4% during the 4th quarter. Bank of New York Mellon Corp now owns 11,150,415 shares of the real estate investment trust’s stock valued at $719,315,000 after purchasing an additional 42,435 shares during the period. Goldman Sachs Group Inc. boosted its position in Prologis by 8.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 8,652,177 shares of the real estate investment trust’s stock valued at $558,151,000 after purchasing an additional 638,453 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in Prologis by 1.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 7,505,224 shares of the real estate investment trust’s stock valued at $476,282,000 after purchasing an additional 137,807 shares during the period. Institutional investors and hedge funds own 95.39% of the company’s stock.

Shares of PLD traded down $0.52 during mid-day trading on Friday, hitting $61.24. The stock had a trading volume of 1,921,512 shares, compared to its average volume of 2,071,336. The firm has a market cap of $32,921.41, a price-to-earnings ratio of 21.79, a PEG ratio of 4.64 and a beta of 0.83. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.51. Prologis has a fifty-two week low of $52.98 and a fifty-two week high of $67.53.

Prologis (NYSE:PLD) last released its quarterly earnings data on Tuesday, January 23rd. The real estate investment trust reported $0.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.01. Prologis had a return on equity of 9.12% and a net margin of 63.11%. The business had revenue of $550.65 million during the quarter, compared to analyst estimates of $533.54 million. During the same quarter in the previous year, the firm posted $0.63 EPS. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. sell-side analysts predict that Prologis will post 2.91 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 29th. Investors of record on Thursday, March 15th were given a dividend of $0.48 per share. The ex-dividend date was Wednesday, March 14th. This represents a $1.92 dividend on an annualized basis and a yield of 3.14%. This is a positive change from Prologis’s previous quarterly dividend of $0.44. Prologis’s payout ratio is currently 68.33%.

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About Prologis

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of December 31, 2017, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 684 million square feet (64 million square meters) in 19 countries.

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