Prologis (NYSE:PLD) Given New $87.00 Price Target at Deutsche Bank

Prologis (NYSE:PLD) had its target price lifted by Deutsche Bank from $82.00 to $87.00 in a report issued on Thursday, The Fly reports. The firm currently has a “buy” rating on the real estate investment trust’s stock. Deutsche Bank’s price objective suggests a potential downside of 2.91% from the company’s current price.

Other research analysts have also issued reports about the stock. KeyCorp raised their price target on shares of Prologis from $79.00 to $86.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. ValuEngine downgraded shares of Prologis from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Barclays set a $92.00 price objective on shares of Prologis and gave the company a “buy” rating in a report on Friday, October 11th. SunTrust Banks increased their price objective on shares of Prologis from $81.00 to $89.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. Finally, Wells Fargo & Co increased their price objective on shares of Prologis from $84.00 to $91.00 and gave the company a “market perform” rating in a report on Thursday. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $85.88.

Prologis stock traded up $0.45 during midday trading on Thursday, reaching $89.61. The company had a trading volume of 1,693,543 shares, compared to its average volume of 1,990,331. The company has a market capitalization of $56.27 billion, a P/E ratio of 29.57, a P/E/G ratio of 4.76 and a beta of 1.01. Prologis has a 12-month low of $55.21 and a 12-month high of $89.91. The firm’s fifty day simple moving average is $85.21 and its 200-day simple moving average is $80.04. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.50 and a quick ratio of 0.54.

Prologis (NYSE:PLD) last issued its quarterly earnings results on Tuesday, October 15th. The real estate investment trust reported $0.71 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.23. The firm had revenue of $712.00 million for the quarter, compared to analyst estimates of $715.40 million. Prologis had a net margin of 53.87% and a return on equity of 6.92%. Prologis’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same period last year, the company posted $0.72 EPS. On average, analysts expect that Prologis will post 3.3 EPS for the current fiscal year.

In other news, CFO Thomas S. Olinger sold 13,051 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $82.25, for a total transaction of $1,073,444.75. Following the completion of the sale, the chief financial officer now owns 20,667 shares in the company, valued at approximately $1,699,860.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Eugene F. Reilly sold 12,500 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $81.72, for a total transaction of $1,021,500.00. Following the sale, the insider now owns 10,685 shares of the company’s stock, valued at approximately $873,178.20. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Prologis by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 82,772,891 shares of the real estate investment trust’s stock worth $6,630,109,000 after buying an additional 307,216 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Prologis by 22.6% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 20,391,209 shares of the real estate investment trust’s stock worth $1,633,336,000 after buying an additional 3,763,203 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Prologis by 52.6% during the 2nd quarter. Invesco Ltd. now owns 16,686,890 shares of the real estate investment trust’s stock worth $1,336,620,000 after buying an additional 5,752,196 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Prologis by 3.7% during the 2nd quarter. Northern Trust Corp now owns 11,252,225 shares of the real estate investment trust’s stock worth $901,303,000 after buying an additional 397,397 shares during the last quarter. Finally, Nuveen Asset Management LLC increased its holdings in shares of Prologis by 320.0% during the 2nd quarter. Nuveen Asset Management LLC now owns 9,862,940 shares of the real estate investment trust’s stock worth $790,021,000 after buying an additional 7,514,715 shares during the last quarter. Institutional investors and hedge funds own 96.00% of the company’s stock.

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, 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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