Prologis Inc (NYSE:PLD) has earned a consensus recommendation of “Buy” from the eighteen brokerages that are presently covering the stock, MarketBeat.com reports. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $71.15.

PLD has been the topic of several research analyst reports. Jefferies Financial Group restated a “$62.97” rating and issued a $79.00 price objective on shares of Prologis in a research report on Wednesday, July 18th. BTIG Research set a $73.00 target price on Prologis and gave the stock a “buy” rating in a research report on Thursday, August 23rd. JPMorgan Chase & Co. set a $72.00 target price on Prologis and gave the stock a “buy” rating in a research report on Thursday, August 23rd. SunTrust Banks set a $70.00 target price on Prologis and gave the stock a “buy” rating in a research report on Tuesday, August 7th. Finally, Zacks Investment Research upgraded Prologis from a “hold” rating to a “buy” rating and set a $72.00 target price on the stock in a research report on Wednesday, June 20th.

In related news, Director Irving F. Lyons III sold 4,808 shares of the business’s stock in a transaction dated Friday, September 28th. The stock was sold at an average price of $67.45, for a total value of $324,299.60. Following the sale, the director now directly owns 9,863 shares in the company, valued at $665,259.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Edward S. Nekritz sold 18,099 shares of the business’s stock in a transaction dated Friday, September 21st. The stock was sold at an average price of $67.66, for a total value of $1,224,578.34. Following the completion of the sale, the insider now owns 106,102 shares in the company, valued at $7,178,861.32. The disclosure for this sale can be found here. Insiders sold 52,690 shares of company stock worth $3,501,582 over the last quarter. 1.32% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. increased its stake in Prologis by 4.9% during the second quarter. BlackRock Inc. now owns 57,370,073 shares of the real estate investment trust’s stock worth $3,768,639,000 after acquiring an additional 2,674,518 shares during the last quarter. Cbre Clarion Securities LLC increased its stake in Prologis by 2.7% during the second quarter. Cbre Clarion Securities LLC now owns 7,919,441 shares of the real estate investment trust’s stock worth $520,228,000 after acquiring an additional 210,819 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Prologis by 1.2% during the second quarter. Dimensional Fund Advisors LP now owns 7,900,910 shares of the real estate investment trust’s stock worth $519,006,000 after acquiring an additional 90,370 shares during the last quarter. PGGM Investments increased its stake in Prologis by 15.0% during the third quarter. PGGM Investments now owns 7,136,300 shares of the real estate investment trust’s stock worth $483,770,000 after acquiring an additional 933,300 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in Prologis by 7.1% during the second quarter. Bank of America Corp DE now owns 6,028,563 shares of the real estate investment trust’s stock worth $396,017,000 after acquiring an additional 400,104 shares during the last quarter. 80.59% of the stock is currently owned by institutional investors.

Shares of Prologis stock traded up $0.29 during trading hours on Thursday, hitting $63.36. The company’s stock had a trading volume of 47,076 shares, compared to its average volume of 3,000,935. Prologis has a 12-month low of $58.28 and a 12-month high of $68.20. The company has a market capitalization of $42.67 billion, a price-to-earnings ratio of 22.15, a PEG ratio of 4.43 and a beta of 0.72. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.51.

Prologis (NYSE:PLD) last announced its quarterly earnings data on Tuesday, October 16th. The real estate investment trust reported $0.72 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.01. Prologis had a return on equity of 10.11% and a net margin of 74.17%. The business had revenue of $611.00 million for the quarter, compared to the consensus estimate of $582.23 million. During the same period in the previous year, the business earned $1.63 earnings per share. The business’s revenue was up 14.2% on a year-over-year basis. On average, equities analysts expect that Prologis will post 3.01 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 28th. Investors of record on Monday, September 17th were given a $0.48 dividend. The ex-dividend date of this dividend was Friday, September 14th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.03%. Prologis’s dividend payout ratio is currently 68.33%.

About Prologis

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of June 30, 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 685 million square feet (64 million square meters) in 19 countries.

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Analyst Recommendations for Prologis (NYSE:PLD)

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