KeyCorp Reiterates “Buy” Rating for Prologis, Inc. (PLD)
Prologis, Inc. (NYSE:PLD)‘s stock had its “buy” rating reiterated by KeyCorp in a research report issued to clients and investors on Friday. They currently have a $65.00 target price on the real estate investment trust’s stock. KeyCorp’s price target points to a potential upside of 2.43% from the stock’s previous close.
Other research analysts also recently issued reports about the stock. Evercore ISI reaffirmed an “outperform” rating and issued a $64.00 target price (up from $61.00) on shares of Prologis in a research report on Friday, July 21st. Zacks Investment Research raised shares of Prologis from a “hold” rating to a “buy” rating and set a $71.00 target price on the stock in a research report on Monday, September 25th. BTIG Research reaffirmed a “buy” rating and issued a $68.00 target price (up from $62.00) on shares of Prologis in a research report on Wednesday. Barclays PLC reaffirmed an “overweight” rating and issued a $61.00 target price (up from $59.00) on shares of Prologis in a research report on Monday, July 24th. Finally, BidaskClub raised shares of Prologis from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 18th. Four investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $61.69.
Shares of Prologis (NYSE PLD) opened at 63.46 on Friday. The firm has a market capitalization of $33.75 billion, a P/E ratio of 28.48 and a beta of 0.93. Prologis has a 1-year low of $45.93 and a 1-year high of $65.49. The stock’s 50 day moving average is $62.54 and its 200 day moving average is $57.16.
Prologis (NYSE:PLD) last announced its quarterly earnings data on Tuesday, July 18th. The real estate investment trust reported $0.84 EPS for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.06. The company had revenue of $766.18 million for the quarter, compared to the consensus estimate of $576.00 million. Prologis had a net margin of 43.99% and a return on equity of 6.65%. The company’s quarterly revenue was up 27.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.60 EPS. Equities analysts predict that Prologis will post ($0.27) earnings per share for the current year.
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In other Prologis news, Director Carl B. Webb sold 20,000 shares of the firm’s stock in a transaction on Friday, July 28th. The shares were sold at an average price of $61.38, for a total transaction of $1,227,600.00. Following the transaction, the director now directly owns 66,078 shares of the company’s stock, valued at approximately $4,055,867.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.31% of the company’s stock.
Institutional investors have recently modified their holdings of the business. Guardian Life Insurance Co. of America lifted its stake in shares of Prologis by 0.7% in the 1st quarter. Guardian Life Insurance Co. of America now owns 2,039 shares of the real estate investment trust’s stock worth $106,000 after acquiring an additional 14 shares during the period. Creative Planning lifted its stake in shares of Prologis by 3.4% in the 2nd quarter. Creative Planning now owns 2,078 shares of the real estate investment trust’s stock worth $122,000 after acquiring an additional 69 shares during the period. Evercore Wealth Management LLC lifted its stake in shares of Prologis by 18.2% in the 2nd quarter. Evercore Wealth Management LLC now owns 2,270 shares of the real estate investment trust’s stock worth $134,000 after acquiring an additional 350 shares during the period. Independent Portfolio Consultants Inc. lifted its stake in shares of Prologis by 82.0% in the 2nd quarter. Independent Portfolio Consultants Inc. now owns 2,718 shares of the real estate investment trust’s stock worth $159,000 after acquiring an additional 1,225 shares during the period. Finally, Solaris Asset Management LLC lifted its stake in shares of Prologis by 11.0% in the 2nd quarter. Solaris Asset Management LLC now owns 3,135 shares of the real estate investment trust’s stock worth $184,000 after acquiring an additional 310 shares during the period. 95.91% of the stock is currently owned by institutional investors.
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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