Prologis (NYSE:PLD) had its target price hoisted by stock analysts at Barclays from $61.00 to $64.00 in a research note issued on Tuesday. The brokerage currently has an “overweight” rating on the real estate investment trust’s stock. Barclays’ price target points to a potential upside of 1.31% from the stock’s previous close.
A number of other brokerages have also weighed in on PLD. Evercore ISI upgraded shares of Prologis from an “in-line” rating to an “outperform” rating in a report on Monday, December 4th. JPMorgan Chase & Co. lowered shares of Prologis from an “overweight” rating to a “neutral” rating and set a $66.00 price objective on the stock. in a report on Friday, December 15th. Citigroup raised their price objective on shares of Prologis from $63.00 to $66.00 and gave the company a “neutral” rating in a report on Thursday, October 19th. KeyCorp raised their price objective on shares of Prologis from $65.00 to $68.00 and gave the company a “buy” rating in a report on Monday, October 16th. Finally, BMO Capital Markets set a $69.00 price objective on shares of Prologis and gave the company a “buy” rating in a report on Tuesday, October 17th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $67.06.
Shares of Prologis (NYSE:PLD) traded down $0.22 on Tuesday, hitting $63.17. 1,483,784 shares of the stock were exchanged, compared to its average volume of 2,422,608. Prologis has a fifty-two week low of $48.33 and a fifty-two week high of $67.53. The firm has a market cap of $34,268.36, a price-to-earnings ratio of 20.65, 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.
In related news, insider Edward S. Nekritz sold 15,752 shares of Prologis stock in a transaction on Thursday, December 28th. The shares were sold at an average price of $64.51, for a total transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Lori A. Palazzolo sold 4,900 shares of Prologis stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $65.89, for a total transaction of $322,861.00. 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 over the last quarter. 1.31% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. APG Asset Management US Inc. increased its stake in Prologis by 8.0% in 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 during the period. JPMorgan Chase & Co. increased its stake in Prologis by 4.1% in 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 during the period. Bank of New York Mellon Corp increased its stake in Prologis by 1.3% in 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 during the period. Principal Financial Group Inc. increased its stake in Prologis by 1.7% in 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 during the period. Finally, Dimensional Fund Advisors LP increased its stake in Prologis by 1.9% in 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 during the period. Institutional investors own 95.32% of the company’s stock.
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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.
