Prologis, Inc. (PLD) Lifted to Strong-Buy at BidaskClub
Prologis, Inc. (NYSE:PLD) was upgraded by BidaskClub from a “buy” rating to a “strong-buy” rating in a note issued to investors on Friday.
A number of other research analysts have also recently commented on the stock. Evercore ISI reissued an “outperform” rating and issued a $64.00 target price (up previously from $61.00) on shares of Prologis in a report on Friday, July 21st. Zacks Investment Research raised shares of Prologis from a “hold” rating to a “buy” rating and set a $61.00 target price for the company in a report on Friday, April 21st. Jefferies Group LLC reiterated a “hold” rating and issued a $60.00 price objective (up previously from $54.00) on shares of Prologis in a report on Sunday, June 25th. Citigroup Inc. raised their price objective on shares of Prologis from $50.00 to $56.00 and gave the company a “neutral” rating in a report on Tuesday, April 25th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $60.00 price objective on shares of Prologis in a report on Thursday, July 6th. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $59.60.
Shares of Prologis (PLD) traded down 0.11% during trading on Friday, hitting $61.23. 1,993,934 shares of the company’s stock were exchanged. The stock’s 50-day moving average price is $59.89 and its 200-day moving average price is $55.04. Prologis has a 1-year low of $45.93 and a 1-year high of $62.87. The stock has a market cap of $32.57 billion, a PE ratio of 27.48 and a beta of 0.94.
Prologis (NYSE:PLD) last posted its earnings results on Tuesday, July 18th. The real estate investment trust reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.06. The firm had revenue of $766.18 million during the quarter, compared to analysts’ expectations of $576 million. Prologis had a net margin of 43.99% and a return on equity of 6.65%. The business’s revenue for the quarter was up 27.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.60 earnings per share. On average, equities analysts expect that Prologis will post ($0.27) earnings per share for the current fiscal year.
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In related news, CEO Hamid R. Moghadam sold 14,067 shares of Prologis stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $56.00, for a total value of $787,752.00. Following the completion of the sale, the chief executive officer now owns 3,267 shares of the company’s stock, valued at approximately $182,952. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Hamid R. Moghadam sold 271,788 shares of Prologis stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $56.04, for a total transaction of $15,230,999.52. Following the completion of the sale, the chief executive officer now directly owns 36,997 shares of the company’s stock, valued at approximately $2,073,311.88. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 458,807 shares of company stock valued at $26,018,101. Insiders own 1.31% of the company’s stock.
A number of hedge funds have recently bought and sold shares of PLD. Creative Planning increased its stake in Prologis by 13.2% in the first quarter. Creative Planning now owns 2,009 shares of the real estate investment trust’s stock valued at $104,000 after buying an additional 234 shares during the last quarter. 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. IFP Advisors Inc boosted its position in shares of Prologis by 10.7% in the first quarter. IFP Advisors Inc now owns 2,249 shares of the real estate investment trust’s stock valued at $117,000 after buying an additional 218 shares during the period. Evercore Wealth Management LLC boosted its position in shares of 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 valued at $134,000 after buying an additional 350 shares during the period. Finally, 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. 95.57% of the stock is owned by institutional investors and hedge funds.
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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