Prologis, Inc. (PLD) Earns “Overweight” Rating from Barclays PLC
Prologis, Inc. (NYSE:PLD)‘s stock had its “overweight” rating reaffirmed by research analysts at Barclays PLC in a report issued on Monday. They presently have a $61.00 price objective on the real estate investment trust’s stock, up from their prior price objective of $59.00. Barclays PLC’s price objective points to a potential upside of 1.16% from the stock’s current price.
Other analysts also recently issued research reports about the company. Evercore ISI lifted their target price on Prologis from $58.00 to $59.00 and gave the company an “outperform” rating in a research note on Wednesday, April 19th. Zacks Investment Research raised Prologis from a “hold” rating to a “buy” rating and set a $62.00 target price on the stock in a research note on Monday, May 22nd. Citigroup Inc. lifted their target price on Prologis from $50.00 to $56.00 and gave the company a “neutral” rating in a research note on Tuesday, April 25th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $59.00 target price on shares of Prologis in a research note on Thursday, June 8th. Finally, BidaskClub downgraded Prologis from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 21st. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $58.86.
Prologis (NYSE PLD) traded up 2.22% during midday trading on Monday, hitting $60.30. The stock had a trading volume of 2,848,905 shares. The firm has a market cap of $31.96 billion, a PE ratio of 27.06 and a beta of 0.94. Prologis has a one year low of $45.93 and a one year high of $60.47. The stock has a 50-day moving average price of $57.95 and a 200 day moving average price of $53.77.
Prologis (NYSE:PLD) last announced its quarterly earnings results on Tuesday, July 18th. The real estate investment trust reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.06. The business had revenue of $766.18 million for the quarter, compared to the consensus estimate of $576 million. Prologis had a return on equity of 6.64% and a net margin of 43.99%. The business’s revenue was up 27.2% on a year-over-year basis. During the same quarter last year, the business posted $0.60 EPS. On average, analysts predict that Prologis will post ($0.27) earnings per share for the current year.
In other news, insider Edward S. Nekritz sold 25,000 shares of Prologis stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $55.31, for a total transaction of $1,382,750.00. Following the transaction, the insider now directly owns 199,950 shares in the company, valued at approximately $11,059,234.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Thomas S. Olinger sold 74,225 shares of Prologis stock in a transaction on Thursday, April 27th. The shares were sold at an average price of $55.03, for a total value of $4,084,601.75. Following the transaction, the chief financial officer now owns 13,022 shares in the company, valued at $716,600.66. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 544,572 shares of company stock worth $30,610,686. 1.31% of the stock is owned by insiders.
Institutional investors have recently modified their holdings of the stock. Guardian Life Insurance Co. of America boosted its position in shares of 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 valued at $106,000 after buying an additional 14 shares during the period. Solaris Asset Management LLC boosted its position in shares of 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 valued at $147,000 after buying an additional 50 shares during the period. Creative Planning boosted its position in shares of Prologis by 3.4% in the second quarter. Creative Planning now owns 2,078 shares of the real estate investment trust’s stock valued at $122,000 after buying an additional 69 shares during the period. Quadrant Capital Management LLC boosted its position in shares of 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 valued at $1,174,000 after buying an additional 75 shares during the period. Finally, LS Investment Advisors LLC boosted its position in shares of 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 valued at $908,000 after buying an additional 76 shares during the period. Institutional investors own 95.99% 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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