Prologis, Inc. (PLD) Receives Consensus Recommendation of “Buy” from Analysts
Shares of Prologis, Inc. (NYSE:PLD) have been assigned a consensus recommendation of “Buy” from the seventeen ratings firms that are covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $63.87.
Several equities analysts have recently weighed in on PLD shares. Stifel Nicolaus reaffirmed a “buy” rating and set a $60.00 target price on shares of Prologis in a report on Thursday, July 6th. Evercore ISI reissued an “outperform” rating and issued a $64.00 price target (up previously from $61.00) on shares of Prologis in a report on Friday, July 21st. Barclays PLC reissued an “overweight” rating and issued a $61.00 price target (up previously from $59.00) on shares of Prologis in a report on Monday, July 24th. BidaskClub lowered shares of Prologis from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Finally, KeyCorp upped their target price on shares of Prologis from $62.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, July 25th.
In other news, Director Carl B. Webb sold 20,000 shares of the stock in a transaction that occurred on 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 sale, the director now directly owns 66,078 shares of the company’s stock, valued at $4,055,867.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.31% of the stock is currently owned by corporate insiders.
Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Prologis by 0.3% in the second quarter. Vanguard Group Inc. now owns 76,905,109 shares of the real estate investment trust’s stock valued at $4,509,716,000 after acquiring an additional 249,341 shares during the period. BlackRock Inc. lifted its holdings in shares of Prologis by 1.3% during the second quarter. BlackRock Inc. now owns 51,529,145 shares of the real estate investment trust’s stock worth $3,021,668,000 after purchasing an additional 673,429 shares during the period. APG Asset Management US Inc. lifted its holdings in shares of Prologis by 8.0% during the third quarter. APG Asset Management US Inc. now owns 17,942,319 shares of the real estate investment trust’s stock worth $1,138,620,000 after purchasing an additional 1,330,850 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Prologis by 6.4% during the second quarter. Bank of New York Mellon Corp now owns 10,961,903 shares of the real estate investment trust’s stock worth $642,806,000 after purchasing an additional 661,314 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in shares of Prologis by 5.7% during the second quarter. Principal Financial Group Inc. now owns 10,205,316 shares of the real estate investment trust’s stock worth $598,440,000 after purchasing an additional 552,184 shares during the period. 95.85% of the stock is owned by institutional investors and hedge funds.
Shares of Prologis (PLD) traded up 0.37% on Thursday, hitting $64.27. 2,267,051 shares of the stock traded hands. The stock has a market cap of $35.62 billion, a P/E ratio of 19.27 and a beta of 0.92. The stock’s 50 day moving average price is $64.34 and its 200 day moving average price is $59.61. Prologis has a 52-week low of $45.93 and a 52-week high of $65.63.
Prologis (NYSE:PLD) last released its earnings results on Tuesday, October 17th. The real estate investment trust reported $0.67 EPS for the quarter, hitting analysts’ consensus estimates of $0.67. The company had revenue of $531.18 million during the quarter, compared to analysts’ expectations of $573.68 million. Prologis had a net margin of 68.50% and a return on equity of 9.92%. Prologis’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same period last year, the business earned $0.14 EPS. On average, equities analysts expect that Prologis will post ($0.27) EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Monday, September 18th were issued a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 2.74%. The ex-dividend date was Friday, September 15th. Prologis’s payout ratio is currently 52.85%.
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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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