Prologis, Inc. (NYSE:PLD) was upgraded by research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday, August 1st.
A number of other equities research analysts have also issued reports on the company. Evercore ISI reiterated an “outperform” rating and issued a $64.00 price target (up previously from $61.00) on shares of Prologis in a research note on Friday, July 21st. Zacks Investment Research upgraded Prologis from a “hold” rating to a “buy” rating and set a $61.00 price target for the company in a research note on Friday, April 21st. Jefferies Group LLC reiterated a “hold” rating and issued a $60.00 price target (up previously from $54.00) on shares of Prologis in a research note on Sunday, June 25th. Citigroup Inc. increased their price target on Prologis from $50.00 to $56.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 25th. Finally, Bank of America Corporation upgraded Prologis from a “neutral” rating to a “buy” rating and increased their price target for the stock from $58.00 to $65.00 in a research note on Friday, June 23rd. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $59.60.
Shares of Prologis (NYSE PLD) opened at 61.23 on Tuesday. Prologis has a one year low of $45.93 and a one year high of $62.87. The company has a market capitalization of $32.57 billion, a price-to-earnings ratio of 27.48 and a beta of 0.94. The company’s 50-day moving average price is $59.89 and its 200-day moving average price is $55.04.
Prologis (NYSE:PLD) last issued its quarterly earnings results on Tuesday, July 18th. The real estate investment trust reported $0.84 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.06. Prologis had a return on equity of 6.65% and a net margin of 43.99%. The business had revenue of $766.18 million during the quarter, compared to analyst estimates of $576 million. During the same quarter in the prior year, the business posted $0.60 EPS. Prologis’s revenue for the quarter was up 27.2% compared to the same quarter last year. On average, equities research analysts predict that Prologis will post ($0.27) earnings per share for the current year.
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In related news, CEO Hamid R. Moghadam sold 271,788 shares of the stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $56.04, for a total value of $15,230,999.52. Following the completion of the transaction, the chief executive officer now owns 36,997 shares of the company’s stock, valued at approximately $2,073,311.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Carl B. Webb sold 20,000 shares of the stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $61.38, for a total transaction of $1,227,600.00. Following the completion of the transaction, the director now directly owns 66,078 shares of the company’s stock, valued at approximately $4,055,867.64. The disclosure for this sale can be found here. In the last ninety days, insiders sold 458,807 shares of company stock valued at $26,018,101. 1.31% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Prologis by 0.3% in the second quarter. Vanguard Group Inc. now owns 76,905,109 shares of the real estate investment trust’s stock valued at $4,509,716,000 after buying an additional 249,341 shares during the last quarter. BlackRock Inc. increased its stake in shares of Prologis by 1.3% in the second quarter. BlackRock Inc. now owns 51,529,145 shares of the real estate investment trust’s stock valued at $3,021,668,000 after buying an additional 673,429 shares during the last quarter. State Street Corp increased its stake in shares of Prologis by 0.6% in the first quarter. State Street Corp now owns 31,172,110 shares of the real estate investment trust’s stock valued at $1,617,220,000 after buying an additional 177,743 shares during the last quarter. FMR LLC increased its stake in shares of Prologis by 9.4% in the first quarter. FMR LLC now owns 24,650,787 shares of the real estate investment trust’s stock valued at $1,278,883,000 after buying an additional 2,127,092 shares during the last quarter. Finally, APG Asset Management US Inc. increased its stake in shares of Prologis by 0.7% in the first quarter. APG Asset Management US Inc. now owns 17,260,069 shares of the real estate investment trust’s stock valued at $895,452,000 after buying an additional 117,972 shares during the last quarter. 95.57% of the stock is owned by institutional investors and hedge funds.
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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