Prologis Inc. (PLD) Upgraded by Capital One Financial Corp. to “Equal Weight”
Prologis Inc. (NYSE:PLD) was upgraded by equities researchers at Capital One Financial Corp. from an “underweight” rating to an “equal weight” rating in a research note issued to investors on Monday, The Fly reports.
A number of other research firms also recently commented on PLD. Morgan Stanley set a $58.00 target price on shares of Prologis and gave the stock a “buy” rating in a research report on Tuesday, September 6th. Wells Fargo & Co. reiterated a “neutral” rating on shares of Prologis in a research note on Sunday, September 4th. Robert W. Baird cut shares of Prologis from an “outperform” rating to a “neutral” rating and lifted their price target for the stock from $52.00 to $54.00 in a research note on Wednesday, August 17th. RBC Capital Markets reiterated an “outperform” rating and set a $55.00 price target (up previously from $48.00) on shares of Prologis in a research note on Tuesday, July 26th. Finally, BTIG Research initiated coverage on shares of Prologis in a research note on Thursday, August 25th. They set a “buy” rating and a $60.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and ten have given a buy rating to the company’s stock. Prologis has an average rating of “Hold” and an average target price of $50.26.
Prologis (NYSE:PLD) opened at 50.87 on Monday. The company has a market cap of $26.81 billion, a PE ratio of 31.06 and a beta of 1.30. The company has a 50-day moving average price of $52.41 and a 200-day moving average price of $49.81. Prologis has a 1-year low of $35.25 and a 1-year high of $54.87.
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The firm also recently announced a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Monday, September 19th were issued a $0.42 dividend. The ex-dividend date of this dividend was Thursday, September 15th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.30%. Prologis’s dividend payout ratio (DPR) is presently 103.07%.
In related news, CEO Hamid R. Moghadam sold 446,991 shares of the company’s stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $54.35, for a total transaction of $24,293,960.85. Following the transaction, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gary E. Anderson sold 33,043 shares of the company’s stock in a transaction dated Friday, August 12th. The shares were 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. 1.29% of the stock is currently owned by insiders.
Institutional investors have recently modified their holdings of the stock. Evercore Wealth Management LLC boosted 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 during the last quarter. Global X Management Co. LLC boosted 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 during the last quarter. Creative Planning boosted 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 during 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. boosted 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 during the last quarter. Institutional investors own 99.83% 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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