Robert W. Baird Increases Prologis (PLD) Price Target to $70.00

Prologis (NYSE:PLD) had its price target raised by equities researchers at Robert W. Baird from $68.00 to $70.00 in a report issued on Wednesday. The firm currently has a “buy” rating on the real estate investment trust’s stock. Robert W. Baird’s price objective would indicate a potential upside of 8.71% from the stock’s current price.

Several other brokerages also recently commented on PLD. Evercore ISI raised Prologis from an “in-line” rating to an “outperform” rating in a research report on Monday, December 4th. JPMorgan Chase & Co. downgraded Prologis from an “overweight” rating to a “neutral” rating and set a $66.00 price objective on the stock. in a research report on Friday, December 15th. Citigroup increased their price target on Prologis from $63.00 to $66.00 and gave the stock a “neutral” rating in a research report on Thursday, October 19th. KeyCorp increased their price target on Prologis from $65.00 to $68.00 and gave the stock a “buy” rating in a research report on Monday, October 16th. Finally, BMO Capital Markets set a $69.00 price target on Prologis and gave the stock a “buy” rating in a research report on Tuesday, October 17th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $66.88.

Prologis (PLD) opened at $64.39 on Wednesday. The company has a market capitalization of $34,268.36, a price-to-earnings ratio of 21.04, a price-to-earnings-growth ratio of 4.10 and a beta of 0.92. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.35 and a quick ratio of 0.80. Prologis has a 12-month low of $48.33 and a 12-month high of $67.53.

Prologis (NYSE:PLD) last announced its quarterly earnings data on Tuesday, January 23rd. The real estate investment trust reported $0.67 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.01. The company had revenue of $550.65 million for the quarter, compared to the consensus estimate of $533.54 million. Prologis had a return on equity of 9.11% and a net margin of 63.11%. Prologis’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.63 EPS. equities research analysts expect that Prologis will post 2.89 earnings per share for the current fiscal year.

In related news, CFO Thomas S. Olinger sold 46,200 shares of the firm’s stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $66.33, for a total transaction of $3,064,446.00. Following the sale, the chief financial officer now owns 36,325 shares of the company’s stock, valued at $2,409,437.25. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Edward S. Nekritz sold 15,752 shares of the firm’s stock in a transaction dated Thursday, December 28th. The shares were sold at an average price of $64.51, for a total value of $1,016,161.52. Following the sale, the insider now directly owns 146,414 shares in the company, valued at approximately $9,445,167.14. The disclosure for this sale can be found here. Insiders have sold a total of 99,852 shares of company stock worth $6,600,519 in the last three months. Corporate insiders own 1.31% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. APG Asset Management US Inc. boosted its position in 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 valued at $1,138,620,000 after purchasing an additional 1,330,850 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Prologis by 4.1% during the third quarter. JPMorgan Chase & Co. now owns 11,786,598 shares of the real estate investment trust’s stock valued at $749,039,000 after purchasing an additional 463,559 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Prologis by 1.3% during the third quarter. Bank of New York Mellon Corp now owns 11,107,980 shares of the real estate investment trust’s stock valued at $704,913,000 after purchasing an additional 146,077 shares in the last quarter. Principal Financial Group Inc. boosted its position in Prologis by 1.7% during the third quarter. Principal Financial Group Inc. now owns 10,377,260 shares of the real estate investment trust’s stock valued at $658,542,000 after purchasing an additional 171,944 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Prologis by 1.9% during the third quarter. Dimensional Fund Advisors LP now owns 7,505,224 shares of the real estate investment trust’s stock valued at $476,282,000 after purchasing an additional 137,807 shares in the last quarter. 95.32% of the stock is currently owned by institutional investors.

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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.

Analyst Recommendations for Prologis (NYSE:PLD)

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