ProLogis, Inc. (PLD) Receives Consensus Rating of “Buy” from Brokerages
Shares of ProLogis, Inc. (NYSE:PLD) have received a consensus rating of “Buy” from the eighteen research firms that are presently covering the company, Marketbeat.com reports. Five analysts have rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $57.47.
A number of analysts recently weighed in on PLD shares. Stifel Nicolaus raised their target price on shares of ProLogis from $57.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, May 30th. Zacks Investment Research upgraded shares of ProLogis from a “hold” rating to a “buy” rating and set a $62.00 target price for the company in a report on Monday, May 22nd. BidaskClub cut shares of ProLogis from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 21st. Royal Bank Of Canada restated a “buy” rating and set a $59.00 target price on shares of ProLogis in a report on Thursday, June 8th. Finally, BTIG Research restated a “buy” rating and set a $57.00 target price on shares of ProLogis in a report on Tuesday, April 11th.
Shares of ProLogis (NYSE PLD) traded up 2.73% during trading on Tuesday, reaching $60.12. The company had a trading volume of 3,501,899 shares. The stock has a market capitalization of $31.88 billion, a price-to-earnings ratio of 26.70 and a beta of 0.94. The stock has a 50 day moving average of $56.72 and a 200 day moving average of $53.15. ProLogis has a 52-week low of $45.93 and a 52-week high of $60.47.
ProLogis (NYSE:PLD) last released its quarterly earnings data on Tuesday, July 18th. The real estate investment trust reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.06. The firm had revenue of $766.18 million for the quarter, compared to analyst estimates of $576 million. ProLogis had a net margin of 47.15% and a return on equity of 6.66%. ProLogis’s quarterly revenue was up 27.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.60 earnings per share. Equities research analysts forecast that ProLogis will post ($0.27) EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Wednesday, June 14th were given a $0.44 dividend. The ex-dividend date of this dividend was Monday, June 12th. This represents a $1.76 dividend on an annualized basis and a yield of 2.93%. ProLogis’s payout ratio is 78.57%.
In other ProLogis news, CEO Hamid R. Moghadam sold 71,102 shares of the stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $56.34, for a total value of $4,005,886.68. Following the completion of the sale, the chief executive officer now owns 71,102 shares in the company, valued at approximately $4,005,886.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Gary E. Anderson sold 65,000 shares of the stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $58.55, for a total transaction of $3,805,750.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 565,001 shares of company stock valued at $31,723,862. Insiders own 1.31% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Guardian Life Insurance Co. of America increased its stake in ProLogis by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 2,039 shares of the real estate investment trust’s stock worth $106,000 after buying an additional 14 shares during the last quarter. Solaris Asset Management LLC increased its stake in ProLogis by 1.8% in the first quarter. Solaris Asset Management LLC now owns 2,825 shares of the real estate investment trust’s stock worth $147,000 after buying an additional 50 shares during the last quarter. Creative Planning increased its stake in ProLogis by 3.4% in the second quarter. Creative Planning now owns 2,078 shares of the real estate investment trust’s stock worth $122,000 after buying an additional 69 shares during the last quarter. Quadrant Capital Management LLC increased its stake in ProLogis by 0.3% in the first quarter. Quadrant Capital Management LLC now owns 22,621 shares of the real estate investment trust’s stock worth $1,174,000 after buying an additional 75 shares during the last quarter. Finally, LS Investment Advisors LLC increased its stake in ProLogis by 0.5% in the second quarter. LS Investment Advisors LLC now owns 15,478 shares of the real estate investment trust’s stock worth $908,000 after buying an additional 76 shares during the last quarter. Institutional investors own 95.55% of the company’s stock.
ProLogis Company Profile
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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