Prologis Rating Lowered to Hold at Stifel Nicolaus (PLD)
Prologis (NYSE:PLD) was downgraded by equities research analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating in a research note issued to investors on Monday, TheFlyOnTheWall.com reports.
A number of other firms have also recently commented on PLD. Analysts at Cowen and Company downgraded shares of Prologis (NYSE:PLD) from an “outperform” rating to a “market perform” rating in a research note to investors on Thursday. They now have a $37.00 price target on the stock, down previously from $42.00. Separately, analysts at RBC Capital cut their price target on shares of Prologis (NYSE:PLD) from $46.00 to $44.00 in a research note to investors on Monday, July 29th. They now have an “outperform” rating on the stock. Finally, analysts at Imperial Capital raised their price target on shares of Prologis (NYSE:PLD) from $28.00 to $30.00 in a research note to investors on Friday, July 26th. They now have an “underperform” rating on the stock.
One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $39.20.
Prologis (NYSE:PLD) traded up 1.70% on Monday, hitting $37.60. The stock had a trading volume of 422,577 shares. Prologis has a 1-year low of $32.31 and a 1-year high of $45.52. The stock’s 50-day moving average is $36.88 and its 200-day moving average is $39.24. The company’s market cap is $18.748 billion.
Prologis (NYSE:PLD) last announced its earnings results on Wednesday, July 24th. The company reported $0.41 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.37 by $0.04. The company had revenue of $419.50 million for the quarter, compared to the consensus estimate of $221.10 million. During the same quarter last year, the company posted $0.43 earnings per share. Prologis’s revenue was down 16.3% compared to the same quarter last year. Analysts expect that Prologis will post $1.73 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, September 30th. Shareholders of record on Monday, September 16th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date of this dividend is Thursday, September 12th.
Prologis, Inc (NYSE:PLD) is a real estate investment trust (REIT) and the general partner of the Prologis, L.
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