Shares of Prologis, Inc. (NYSE:PLD) have received a consensus rating of “Buy” from the seventeen brokerages that are currently covering the company, MarketBeat.com reports. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $58.93.

Several research firms have weighed in on PLD. Zacks Investment Research upgraded Prologis from a “hold” rating to a “buy” rating and set a $69.00 price target on the stock in a research note on Monday, July 31st. BidaskClub upgraded Prologis from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. Barclays PLC reiterated an “overweight” rating and set a $61.00 price target (up previously from $59.00) on shares of Prologis in a research note on Monday, July 24th. KeyCorp boosted their price target on Prologis from $62.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, July 25th. Finally, Evercore ISI reiterated an “outperform” rating and set a $64.00 price target (up previously from $61.00) on shares of Prologis in a research note on Friday, July 21st.

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Shares of Prologis (NYSE:PLD) traded down 0.38% during mid-day trading on Friday, reaching $59.71. The company’s stock had a trading volume of 1,746,987 shares. The stock has a market capitalization of $31.76 billion, a P/E ratio of 26.80 and a beta of 0.94. The company’s 50-day moving average price is $59.49 and its 200-day moving average price is $54.65. Prologis has a 12-month low of $45.93 and a 12-month high of $61.81.

Prologis (NYSE:PLD) last posted its quarterly earnings results on Tuesday, July 18th. The real estate investment trust reported $0.84 earnings per share for the quarter, beating the Thomson Reuters’ 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 6.65% and a net margin of 43.99%. The company’s quarterly revenue was up 27.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.60 EPS. On average, equities research analysts forecast that Prologis will post ($0.27) earnings per share for the current fiscal year.

In related news, Director Carl B. Webb sold 20,000 shares of the company’s stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $61.38, for a total value of $1,227,600.00. Following the completion of the transaction, the director now owns 66,078 shares of the company’s stock, valued at approximately $4,055,867.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Edward S. Nekritz sold 25,000 shares of the company’s stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $55.31, for a total value of $1,382,750.00. Following the completion of the transaction, the insider now directly owns 199,950 shares of the company’s stock, valued at approximately $11,059,234.50. The disclosure for this sale can be found here. Insiders sold 483,807 shares of company stock worth $27,400,851 in the last 90 days. Company insiders own 1.31% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in PLD. Global Financial Private Capital LLC acquired a new position in Prologis during the second quarter worth $1,445,000. Ontario Teachers Pension Plan Board boosted its position in Prologis by 2.5% in the second quarter. Ontario Teachers Pension Plan Board now owns 129,828 shares of the real estate investment trust’s stock worth $7,613,000 after buying an additional 3,209 shares during the last quarter. Veritable L.P. boosted its position in Prologis by 10.4% in the second quarter. Veritable L.P. now owns 47,839 shares of the real estate investment trust’s stock worth $2,805,000 after buying an additional 4,513 shares during the last quarter. Muzinich & Co. Inc. boosted its position in Prologis by 5.8% in the second quarter. Muzinich & Co. Inc. now owns 6,049 shares of the real estate investment trust’s stock worth $355,000 after buying an additional 334 shares during the last quarter. Finally, Evercore Wealth Management LLC boosted its position in Prologis by 18.2% in the second quarter. Evercore Wealth Management LLC now owns 2,270 shares of the real estate investment trust’s stock worth $134,000 after buying an additional 350 shares during the last quarter. 95.30% of the stock is owned by institutional investors.

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.

Analyst Recommendations for Prologis (NYSE:PLD)

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