Prologis (NYSE:PLD) Cut to Hold at Baird R W

Baird R W lowered shares of Prologis (NYSE:PLD) from a strong-buy rating to a hold rating in a research report report published on Thursday,Zacks.com reports.

Several other brokerages have also recently commented on PLD. Wells Fargo & Company increased their target price on Prologis from $120.00 to $139.00 and gave the stock an “overweight” rating in a report on Monday, October 27th. Industrial Alliance Securities set a $119.00 price objective on shares of Prologis in a report on Monday, October 20th. Barclays dropped their target price on shares of Prologis from $119.00 to $118.00 and set an “overweight” rating for the company in a research note on Monday, September 15th. Evercore ISI increased their price target on shares of Prologis from $116.00 to $118.00 in a research note on Monday, December 22nd. Finally, BMO Capital Markets upgraded shares of Prologis from an “underperform” rating to a “market perform” rating and set a $119.00 price objective for the company in a research report on Monday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, Prologis currently has an average rating of “Moderate Buy” and an average price target of $129.18.

Prologis Price Performance

NYSE:PLD opened at $129.35 on Thursday. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.62. The firm has a market cap of $120.15 billion, a PE ratio of 37.71, a price-to-earnings-growth ratio of 3.79 and a beta of 1.40. Prologis has a 12 month low of $85.35 and a 12 month high of $131.70. The company’s 50-day moving average price is $127.16 and its two-hundred day moving average price is $117.58.

Prologis (NYSE:PLD) last posted its earnings results on Tuesday, October 28th. The real estate investment trust reported $0.82 earnings per share (EPS) for the quarter. The company had revenue of $2.21 billion during the quarter. Prologis had a net margin of 36.71% and a return on equity of 5.55%. On average, equities analysts anticipate that Prologis will post 5.73 EPS for the current fiscal year.

Prologis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th were paid a $1.01 dividend. The ex-dividend date of this dividend was Tuesday, December 16th. This represents a $4.04 dividend on an annualized basis and a yield of 3.1%. Prologis’s dividend payout ratio (DPR) is presently 117.78%.

Insiders Place Their Bets

In other Prologis news, Director James B. Connor sold 80,000 shares of the company’s stock in a transaction on Friday, October 24th. The shares were sold at an average price of $126.58, for a total transaction of $10,126,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Cristina Gabriela Bita sold 621 shares of the firm’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $127.60, for a total value of $79,239.60. Following the completion of the transaction, the director owned 8,208 shares in the company, valued at $1,047,340.80. This represents a 7.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 81,121 shares of company stock valued at $10,267,210 in the last ninety days. Company insiders own 0.57% of the company’s stock.

Institutional Trading of Prologis

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Clayton Financial Group LLC acquired a new position in Prologis during the third quarter valued at approximately $26,000. True Wealth Design LLC grew its holdings in shares of Prologis by 87.1% in the 4th quarter. True Wealth Design LLC now owns 262 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 122 shares during the period. Silver Oak Securities Incorporated acquired a new position in shares of Prologis in the 3rd quarter valued at $36,000. Rossby Financial LCC increased its position in shares of Prologis by 69.6% in the 3rd quarter. Rossby Financial LCC now owns 329 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 135 shares in the last quarter. Finally, AlphaQuest LLC acquired a new stake in Prologis during the 3rd quarter worth $39,000. 93.50% of the stock is owned by institutional investors.

About Prologis

Prologis, Inc is a real estate investment trust (REIT) specializing in logistics and distribution facilities. The company focuses on acquiring, developing, and managing high-quality industrial real estate assets that support supply chain infrastructure for third-party logistics providers, e-commerce businesses, retailers and manufacturers. Its portfolio primarily consists of warehouse and distribution centers designed to optimize goods movement and storage near key transportation hubs.

With a global presence, Prologis serves customers across the Americas, Europe and Asia Pacific.