Prologis Inc. (PLD) Price Target Raised to $55.00
Prologis Inc. (NYSE:PLD) had its price objective hoisted by equities researchers at Royal Bank Of Canada from $48.00 to $55.00 in a report released on Tuesday. The firm presently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective points to a potential upside of 10.44% from the company’s previous close.
Several other equities analysts have also recently weighed in on the company. Cantor Fitzgerald reiterated a “buy” rating and set a $55.00 price objective on shares of Prologis in a report on Wednesday, July 20th. Credit Suisse Group AG cut Prologis from an “outperform” rating to a “neutral” rating and set a $48.00 price objective on the stock. in a report on Wednesday, July 20th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Prologis in a report on Wednesday, July 20th. Citigroup Inc. lifted their price objective on Prologis from $47.00 to $50.00 and gave the company a “neutral” rating in a report on Thursday, July 7th. Finally, SunTrust Banks Inc. cut Prologis from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $35.25 to $49.11 in a report on Thursday, June 30th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $50.26.
Shares of Prologis (NYSE:PLD) traded down 0.82% during trading on Tuesday, reaching $49.80. The company’s stock had a trading volume of 2,523,287 shares. The stock’s 50 day moving average price is $52.84 and its 200 day moving average price is $49.58. The company has a market cap of $26.24 billion, a PE ratio of 30.40 and a beta of 1.31. Prologis has a 52 week low of $35.25 and a 52 week high of $54.87.
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Prologis (NYSE:PLD) last posted its earnings results on Tuesday, July 19th. The company reported $0.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.01. The company earned $602 million during the quarter, compared to analyst estimates of $221.07 million. Prologis had a return on equity of 4.76% and a net margin of 35.66%. During the same period in the previous year, the company earned $0.14 EPS. Equities research analysts predict that Prologis will post ($0.27) EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Monday, September 19th were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date of this dividend was Thursday, September 15th. Prologis’s dividend payout ratio is 103.07%.
In related news, CEO Hamid R. Moghadam sold 446,991 shares of the company’s stock in a transaction on Friday, July 29th. The stock was sold at an average price of $54.35, for a total transaction of $24,293,960.85. Following the completion of the sale, the chief executive officer now directly owns 446,991 shares in the company, valued at approximately $24,293,960.85. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Hamid R. Moghadam sold 349,668 shares of the company’s stock in a transaction on Friday, July 15th. The stock was sold at an average price of $51.14, for a total value of $17,882,021.52. Following the sale, the chief executive officer now owns 349,668 shares of the company’s stock, valued at $17,882,021.52. The disclosure for this sale can be found here. 1.29% of the stock is owned by company insiders.
Several hedge funds have recently made changes to their positions in PLD. Evercore Wealth Management LLC increased its stake in shares of Prologis by 7.6% in the second quarter. Evercore Wealth Management LLC now owns 2,065 shares of the company’s stock valued at $101,000 after buying an additional 145 shares in the last quarter. Global X Management Co. LLC increased its stake in shares of Prologis by 63.4% in the second quarter. Global X Management Co. LLC now owns 2,852 shares of the company’s stock valued at $140,000 after buying an additional 1,107 shares in the last quarter. Creative Planning increased its stake in shares of Prologis by 12.7% in the second quarter. Creative Planning now owns 2,889 shares of the company’s stock valued at $142,000 after buying an additional 325 shares in the last quarter. Tower Research Capital LLC TRC acquired a new stake in shares of Prologis during the second quarter valued at $149,000. Finally, Meeder Asset Management Inc. increased its stake in shares of Prologis by 1,589.2% in the first quarter. Meeder Asset Management Inc. now owns 3,767 shares of the company’s stock valued at $167,000 after buying an additional 3,544 shares in the last quarter. Institutional investors and hedge funds own 99.84% of the company’s stock.
Prologis, Inc is engaged in logistics real estate business, focused on markets across the Americas, Europe and Asia. The Company owns or has investments in, on a basis or through co-investment ventures, properties and development projects in over 20 countries. Its segments include Real Estate Operations and Strategic Capital.
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