Prologis, Inc. (NYSE:PLD)‘s stock had its “buy” rating restated by SunTrust Banks, Inc. in a research report issued to clients and investors on Thursday. They currently have a $68.00 price target on the real estate investment trust’s stock. SunTrust Banks, Inc.’s price objective would suggest a potential upside of 4.49% from the company’s current price.

Other equities research analysts have also recently issued reports about the stock. Evercore ISI reissued an “outperform” rating and set a $64.00 price target (up from $61.00) on shares of Prologis in a research report on Friday, July 21st. KeyCorp boosted their price target on shares of Prologis from $62.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, July 25th. Barclays PLC reissued an “overweight” rating and set a $61.00 price target (up from $59.00) on shares of Prologis in a research report on Monday, July 24th. Zacks Investment Research cut shares of Prologis from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Finally, BidaskClub raised shares of Prologis from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 18th. Four analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $62.31.

Prologis (NYSE PLD) traded up 0.90% during trading on Thursday, reaching $65.08. The company’s stock had a trading volume of 2,671,579 shares. The company has a market cap of $34.61 billion, a P/E ratio of 29.21 and a beta of 0.92. The company’s 50 day moving average price is $63.92 and its 200 day moving average price is $58.74. Prologis has a 52 week low of $45.93 and a 52 week high of $65.54.

Prologis (NYSE:PLD) last issued its quarterly earnings results on Tuesday, July 18th. The real estate investment trust reported $0.84 EPS for the quarter, topping the consensus estimate of $0.78 by $0.06. Prologis had a net margin of 43.99% and a return on equity of 6.65%. The firm had revenue of $766.18 million for the quarter, compared to analysts’ expectations of $576.00 million. During the same period in the previous year, the firm posted $0.60 EPS. The company’s revenue for the quarter was up 27.2% on a year-over-year basis. On average, equities analysts anticipate that Prologis will post ($0.27) earnings per share for the current fiscal year.

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In other news, Director Carl B. Webb sold 20,000 shares of the company’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $61.38, for a total value of $1,227,600.00. Following the sale, the director now directly owns 66,078 shares of the company’s stock, valued at approximately $4,055,867.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.31% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Eqis Capital Management Inc. raised its holdings in Prologis by 58.9% in the 3rd quarter. Eqis Capital Management Inc. now owns 6,911 shares of the real estate investment trust’s stock valued at $439,000 after acquiring an additional 2,561 shares during the period. Achmea Investment Management B.V. raised its holdings in Prologis by 42.6% in the 2nd quarter. Achmea Investment Management B.V. now owns 53,197 shares of the real estate investment trust’s stock valued at $3,118,000 after acquiring an additional 15,891 shares during the period. Sentry Investment Management LLC raised its holdings in Prologis by 32.0% in the 2nd quarter. Sentry Investment Management LLC now owns 41,617 shares of the real estate investment trust’s stock valued at $2,440,000 after acquiring an additional 10,081 shares during the period. Toronto Dominion Bank raised its holdings in Prologis by 25.8% in the 2nd quarter. Toronto Dominion Bank now owns 179,639 shares of the real estate investment trust’s stock valued at $10,532,000 after acquiring an additional 36,802 shares during the period. Finally, Dynamic Technology Lab Private Ltd bought a new position in Prologis in the 2nd quarter valued at about $263,000. 95.94% of the stock is currently owned by hedge funds and other 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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