Prologis Inc. (PLD) Raised to “Equal Weight” at Capital One Financial Corp.
Prologis Inc. (NYSE:PLD) was upgraded by analysts at Capital One Financial Corp. from an “underweight” rating to an “equal weight” rating in a research report issued on Monday, The Fly reports.
Other equities analysts have also issued reports about the stock. Morgan Stanley set a $58.00 price objective on shares of Prologis and gave the stock a “buy” rating in a report on Tuesday, September 6th. Wells Fargo & Co. restated a “neutral” rating on shares of Prologis in a report on Sunday, September 4th. Robert W. Baird lowered shares of Prologis from an “outperform” rating to a “neutral” rating and upped their price objective for the stock from $52.00 to $54.00 in a report on Wednesday, August 17th. RBC Capital Markets restated an “outperform” rating and issued a $55.00 price objective (up from $48.00) on shares of Prologis in a report on Tuesday, July 26th. Finally, BTIG Research began coverage on shares of Prologis in a report on Thursday, August 25th. They issued a “buy” rating and a $60.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and ten have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $50.26.
Shares of Prologis (NYSE:PLD) opened at 50.87 on Monday. Prologis has a 52 week low of $35.25 and a 52 week high of $54.87. The firm has a market capitalization of $26.81 billion, a P/E ratio of 31.06 and a beta of 1.30. The firm has a 50-day moving average of $52.41 and a 200 day moving average of $49.81.
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The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Monday, September 19th were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date of this dividend was Thursday, September 15th. Prologis’s dividend payout ratio is currently 103.07%.
In other news, CEO Hamid R. Moghadam sold 446,991 shares of the firm’s stock in a transaction on Friday, July 29th. The shares were sold at an average price of $54.35, for a total value of $24,293,960.85. Following the completion of the sale, the chief executive officer now owns 446,991 shares in the company, valued at approximately $24,293,960.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Gary E. Anderson sold 33,043 shares of the firm’s stock in a transaction on Friday, August 12th. The stock was sold at an average price of $54.28, for a total transaction of $1,793,574.04. The disclosure for this sale can be found here. Corporate insiders own 1.29% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in PLD. Sarasin & Partners LLP boosted its stake in Prologis by 1.2% in the third quarter. Sarasin & Partners LLP now owns 436,004 shares of the company’s stock valued at $23,344,000 after buying an additional 5,197 shares during the period. National Pension Service boosted its stake in Prologis by 9.0% in the third quarter. National Pension Service now owns 383,465 shares of the company’s stock valued at $20,531,000 after buying an additional 31,517 shares during the period. Duff & Phelps Investment Management Co. boosted its stake in Prologis by 40.8% in the third quarter. Duff & Phelps Investment Management Co. now owns 1,614,965 shares of the company’s stock valued at $86,465,000 after buying an additional 468,231 shares during the period. Highland Capital Management LLC purchased a new stake in Prologis during the third quarter valued at approximately $4,529,000. Finally, Gulf International Bank UK Ltd boosted its stake in Prologis by 0.9% in the third quarter. Gulf International Bank UK Ltd now owns 157,858 shares of the company’s stock valued at $8,451,000 after buying an additional 1,400 shares during the period. Institutional investors own 99.83% of the company’s stock.
Prologis Company Profile
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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