Analysts at Goldman Sachs Group began coverage on shares of Prologis (NYSE:PLD) in a research report issued on Wednesday, The Fly reports. The brokerage set a “conviction-buy” rating on the real estate investment trust’s stock.
Other equities research analysts have also issued research reports about the company. Zacks Investment Research upgraded Prologis from a “hold” rating to a “buy” rating and set a $84.00 price target for the company in a research note on Tuesday. Citigroup set a $86.00 price target on Prologis and gave the stock a “buy” rating in a research note on Wednesday, May 8th. KeyCorp increased their price target on Prologis from $72.00 to $77.00 and gave the stock a “buy” rating in a research note on Monday, March 25th. Barclays restated a “buy” rating on shares of Prologis in a research report on Thursday, February 21st. Finally, BMO Capital Markets restated a “buy” rating and set a $70.00 price objective on shares of Prologis in a research report on Sunday, April 21st. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Prologis has an average rating of “Buy” and an average price target of $74.15.
Prologis stock traded up $0.71 during trading on Wednesday, reaching $76.01. The company had a trading volume of 1,299,760 shares, compared to its average volume of 2,441,683. Prologis has a 52 week low of $55.21 and a 52 week high of $78.56. The stock has a market cap of $47.35 billion, a P/E ratio of 25.09, a P/E/G ratio of 4.17 and a beta of 1.03. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.36 and a current ratio of 0.36.
Prologis (NYSE:PLD) last announced its earnings results on Tuesday, April 16th. The real estate investment trust reported $0.73 EPS for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.01. Prologis had a return on equity of 6.83% and a net margin of 56.56%. The company had revenue of $696.80 million for the quarter, compared to analysts’ expectations of $687.21 million. During the same period last year, the firm earned $0.80 EPS. Prologis’s revenue for the quarter was up 25.3% compared to the same quarter last year. Analysts predict that Prologis will post 3.22 EPS for the current year.
In other Prologis news, insider Edward S. Nekritz sold 30,671 shares of the company’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $75.01, for a total value of $2,300,631.71. Following the completion of the transaction, the insider now owns 21,121 shares in the company, valued at $1,584,286.21. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Edward S. Nekritz sold 16,059 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $71.86, for a total transaction of $1,153,999.74. Following the completion of the transaction, the insider now owns 51,792 shares of the company’s stock, valued at approximately $3,721,773.12. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.
Institutional investors have recently modified their holdings of the business. Vanguard Group Inc raised its position in shares of Prologis by 17.4% during the 3rd quarter. Vanguard Group Inc now owns 81,760,597 shares of the real estate investment trust’s stock worth $5,542,552,000 after purchasing an additional 12,095,509 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Prologis by 2.0% in the fourth quarter. BlackRock Inc. now owns 66,632,462 shares of the real estate investment trust’s stock valued at $3,912,659,000 after acquiring an additional 1,302,676 shares in the last quarter. Cohen & Steers Inc. boosted its holdings in shares of Prologis by 1.0% in the fourth quarter. Cohen & Steers Inc. now owns 22,757,529 shares of the real estate investment trust’s stock valued at $1,336,322,000 after acquiring an additional 229,520 shares in the last quarter. FMR LLC boosted its holdings in shares of Prologis by 1.7% in the fourth quarter. FMR LLC now owns 19,974,330 shares of the real estate investment trust’s stock valued at $1,172,893,000 after acquiring an additional 329,598 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Prologis by 118.2% in the third quarter. JPMorgan Chase & Co. now owns 17,082,538 shares of the real estate investment trust’s stock valued at $1,158,026,000 after acquiring an additional 9,255,117 shares in the last quarter. Institutional investors and hedge funds own 94.95% of the company’s stock.
Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of December 31, 2018, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 768 million square feet (71 million square meters) in 19 countries.
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