Prologis (NYSE:PLD) was downgraded by research analysts at J P Morgan Chase & Co from an “overweight” rating to a “neutral” rating in a report released on Friday, MarketBeat reports. They currently have a $66.00 price objective on the real estate investment trust’s stock. J P Morgan Chase & Co’s price objective would indicate a potential upside of 0.14% from the company’s previous close.
A number of other analysts also recently issued reports on PLD. BidaskClub raised shares of Prologis from a “buy” rating to a “strong-buy” rating in a report on Friday, August 18th. Jefferies Group reaffirmed a “hold” rating and set a $66.00 price target (up previously from $59.00) on shares of Prologis in a report on Thursday, August 24th. KeyCorp reaffirmed a “buy” rating and set a $65.00 price target on shares of Prologis in a report on Sunday, August 27th. SunTrust Banks raised shares of Prologis from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a report on Tuesday, September 5th. Finally, BMO Capital Markets initiated coverage on shares of Prologis in a report on Monday, September 11th. They set an “outperform” rating and a $69.00 price target on the stock. Five research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Prologis currently has a consensus rating of “Buy” and a consensus price target of $66.29.
Shares of Prologis (NYSE PLD) traded up $0.15 during mid-day trading on Friday, reaching $65.91. 2,029,900 shares of the company traded hands, compared to its average volume of 2,385,765. Prologis has a one year low of $48.33 and a one year high of $67.53. The stock has a market cap of $34,989.71, a P/E ratio of 23.74, a price-to-earnings-growth ratio of 4.31 and a beta of 0.91. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.53.
In other Prologis news, CEO Eugene F. Reilly sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $66.61, for a total transaction of $999,150.00. Following the sale, the chief executive officer now owns 63,365 shares in the company, valued at approximately $4,220,742.65. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Eugene F. Reilly sold 18,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $66.55, for a total transaction of $1,197,900.00. Following the sale, the chief executive officer now owns 63,365 shares in the company, valued at approximately $4,216,940.75. The disclosure for this sale can be found here. Company insiders own 1.31% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PLD. IFP Advisors Inc raised its stake in Prologis by 40.7% during the 2nd quarter. IFP Advisors Inc now owns 3,164 shares of the real estate investment trust’s stock worth $186,000 after acquiring an additional 915 shares during the period. Global X Management Co. LLC raised its position in shares of Prologis by 12.1% during the second quarter. Global X Management Co. LLC now owns 7,079 shares of the real estate investment trust’s stock valued at $415,000 after buying an additional 764 shares during the last quarter. Advisors Asset Management Inc. raised its position in shares of Prologis by 26.5% during the second quarter. Advisors Asset Management Inc. now owns 60,290 shares of the real estate investment trust’s stock valued at $3,535,000 after buying an additional 12,614 shares during the last quarter. SG Americas Securities LLC raised its position in shares of Prologis by 1.5% during the second quarter. SG Americas Securities LLC now owns 87,295 shares of the real estate investment trust’s stock valued at $5,119,000 after buying an additional 1,325 shares during the last quarter. Finally, Legal & General Group Plc raised its position in shares of Prologis by 3.4% during the second quarter. Legal & General Group Plc now owns 3,947,432 shares of the real estate investment trust’s stock valued at $231,478,000 after buying an additional 129,609 shares during the last quarter. Institutional investors own 95.57% of the company’s stock.
About Prologis
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.
