Investors Buy Shares of Prologis (PLD) on Weakness
Traders purchased shares of Prologis Inc (NYSE:PLD) on weakness during trading hours on Tuesday. $78.75 million flowed into the stock on the tick-up and $52.00 million flowed out of the stock on the tick-down, for a money net flow of $26.75 million into the stock. Of all stocks tracked, Prologis had the 21st highest net in-flow for the day. Prologis traded down ($0.47) for the day and closed at $60.74
A number of brokerages have recently weighed in on PLD. Cantor Fitzgerald set a $69.00 target price on Prologis and gave the stock a “buy” rating in a research note on Tuesday, January 23rd. KeyCorp restated a “buy” rating and issued a $72.00 target price on shares of Prologis in a research note on Thursday, December 21st. Barclays boosted their target price on Prologis from $61.00 to $64.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 30th. BMO Capital Markets set a $69.00 target price on Prologis and gave the stock a “buy” rating in a research note on Tuesday, October 17th. Finally, SunTrust Banks restated a “buy” rating and issued a $68.00 target price on shares of Prologis in a research note on Thursday, October 12th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $67.06.
The company has a debt-to-equity ratio of 0.50, a current ratio of 0.35 and a quick ratio of 0.80. The stock has a market capitalization of $32,325.83, a price-to-earnings ratio of 19.87, a P/E/G ratio of 3.86 and a beta of 0.83.
In related news, CFO Thomas S. Olinger sold 46,200 shares of Prologis stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $66.33, for a total value of $3,064,446.00. Following the sale, the chief financial officer now owns 36,325 shares of the company’s stock, valued at approximately $2,409,437.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Edward S. Nekritz sold 15,752 shares of Prologis stock in a transaction that occurred on Thursday, December 28th. The stock was sold at an average price of $64.51, for a total transaction of $1,016,161.52. Following the completion of 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 sold a total of 99,852 shares of company stock worth $6,600,519 in the last ninety days. 1.31% of the stock is currently owned by insiders.
A number of hedge funds have recently modified their holdings of the business. Catalyst Capital Advisors LLC bought a new stake in Prologis during the 4th quarter valued at $200,000. Pegasus Partners Ltd. raised its holdings in Prologis by 32.0% during the 4th quarter. Pegasus Partners Ltd. now owns 20,279 shares of the real estate investment trust’s stock valued at $1,308,000 after acquiring an additional 4,912 shares during the period. Bronfman E.L. Rothschild L.P. raised its holdings in Prologis by 75.5% during the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 2,678 shares of the real estate investment trust’s stock valued at $173,000 after acquiring an additional 1,152 shares during the period. Candriam Luxembourg S.C.A. raised its holdings in Prologis by 1,062.3% during the 4th quarter. Candriam Luxembourg S.C.A. now owns 96,474 shares of the real estate investment trust’s stock valued at $6,224,000 after acquiring an additional 88,174 shares during the period. Finally, EFG Asset Management Americas Corp. bought a new stake in Prologis during the 4th quarter valued at $278,000. 95.41% of the stock is currently owned by institutional investors and hedge funds.
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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.
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