Prologis Inc (NYSE:PLD) has received an average recommendation of “Buy” from the seventeen analysts that are presently covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation, eleven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $74.04.
Several equities research analysts have issued reports on PLD shares. Robert W. Baird cut shares of Prologis from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $73.00 to $71.00 in a research note on Friday, March 1st. KeyCorp lifted their target price on shares of Prologis from $72.00 to $77.00 and gave the stock a “buy” rating in a research note on Monday, March 25th. BMO Capital Markets reaffirmed a “buy” rating and set a $70.00 target price on shares of Prologis in a research note on Sunday, April 21st. Zacks Investment Research raised shares of Prologis from a “hold” rating to a “buy” rating and set a $84.00 target price on the stock in a research note on Friday, April 26th. Finally, Citigroup lifted their target price on shares of Prologis from $73.00 to $86.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th.
In other Prologis news, insider Edward S. Nekritz sold 30,671 shares of the company’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $75.01, for a total value of $2,300,631.71. Following the transaction, the insider now owns 21,121 shares of the company’s stock, valued at $1,584,286.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Philip L. Hawkins sold 9,000 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $78.72, for a total transaction of $708,480.00. Following the completion of the transaction, the director now directly owns 35,511 shares in the company, valued at approximately $2,795,425.92. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of PLD. Berman Capital Advisors LLC increased its stake in Prologis by 105.3% during the first quarter. Berman Capital Advisors LLC now owns 388 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 199 shares during the period. Thor Advisors LLC purchased a new stake in shares of Prologis during the first quarter worth approximately $37,000. PRW Wealth Management LLC purchased a new stake in shares of Prologis during the fourth quarter worth approximately $33,000. Lindbrook Capital LLC purchased a new stake in shares of Prologis during the fourth quarter worth approximately $33,000. Finally, Rational Advisors LLC increased its stake in shares of Prologis by 61.8% during the first quarter. Rational Advisors LLC now owns 618 shares of the real estate investment trust’s stock worth $44,000 after buying an additional 236 shares during the period. 95.41% of the stock is currently owned by institutional investors.
PLD traded down $0.02 on Tuesday, hitting $80.58. 98,794 shares of the company’s stock were exchanged, compared to its average volume of 2,227,242. Prologis has a fifty-two week low of $55.21 and a fifty-two week high of $82.82. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.36 and a current ratio of 0.36. The firm’s 50-day simple moving average is $77.07. The company has a market capitalization of $51.30 billion, a PE ratio of 26.75, a price-to-earnings-growth ratio of 4.52 and a beta of 1.00.
Prologis (NYSE:PLD) last announced its earnings results on Tuesday, April 16th. The real estate investment trust reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.01. Prologis had a net margin of 56.56% and a return on equity of 6.83%. The company had revenue of $696.80 million for the quarter, compared to analysts’ expectations of $687.21 million. During the same quarter in the previous year, the company posted $0.80 EPS. The firm’s quarterly revenue was up 25.3% on a year-over-year basis. As a group, equities research analysts forecast that Prologis will post 3.22 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, June 13th will be given a dividend of $0.53 per share. The ex-dividend date is Wednesday, June 12th. This represents a $2.12 annualized dividend and a dividend yield of 2.63%. Prologis’s payout ratio is 69.97%.
Prologis Company Profile
Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of December 31, 2018, 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 768 million square feet (71 million square meters) in 19 countries.
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