Prologis, Inc. (PLD) Given Average Rating of “Buy” by Brokerages
Prologis, Inc. (NYSE:PLD) has been given a consensus rating of “Buy” by the seventeen analysts that are covering the company, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation, twelve have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $61.07.
A number of research analysts have commented on PLD shares. KeyCorp upped their price target on Prologis from $62.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, July 25th. BidaskClub raised Prologis from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. Zacks Investment Research raised Prologis from a “hold” rating to a “buy” rating and set a $69.00 price objective on the stock in a research report on Monday, July 31st. Bank of America Corporation raised Prologis from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $58.00 to $65.00 in a research report on Friday, June 23rd. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and set a $59.00 price objective on shares of Prologis in a research report on Thursday, June 8th.
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Prologis (NYSE PLD) traded down 0.08% on Friday, reaching $64.52. The company’s stock had a trading volume of 1,201,776 shares. The firm has a market capitalization of $34.32 billion, a price-to-earnings ratio of 28.96 and a beta of 0.92. Prologis has a 52 week low of $45.93 and a 52 week high of $65.49. The company has a 50 day moving average of $63.51 and a 200 day moving average of $58.24.
Prologis (NYSE:PLD) last released its quarterly earnings results on Tuesday, July 18th. The real estate investment trust reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.06. Prologis had a return on equity of 6.65% and a net margin of 43.99%. The company had revenue of $766.18 million for the quarter, compared to analysts’ expectations of $576.00 million. During the same period in the prior year, the firm earned $0.60 earnings per share. The firm’s revenue was up 27.2% compared to the same quarter last year. On average, analysts forecast that Prologis will post ($0.27) earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Monday, September 18th were issued a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 2.73%. The ex-dividend date was Friday, September 15th. Prologis’s dividend payout ratio (DPR) is presently 79.28%.
In related news, Director Carl B. Webb sold 20,000 shares of the stock in a transaction on Friday, July 28th. The stock was sold at an average price of $61.38, for a total value of $1,227,600.00. Following the transaction, the director now owns 66,078 shares of the company’s stock, valued at $4,055,867.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.31% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Guardian Life Insurance Co. of America grew its holdings in shares of Prologis by 0.7% during the first quarter. Guardian Life Insurance Co. of America now owns 2,039 shares of the real estate investment trust’s stock worth $106,000 after purchasing an additional 14 shares during the last quarter. Creative Planning grew its holdings in shares of Prologis by 3.4% during the second quarter. Creative Planning now owns 2,078 shares of the real estate investment trust’s stock worth $122,000 after purchasing an additional 69 shares during the last quarter. Evercore Wealth Management LLC grew its holdings in shares of Prologis by 18.2% during the second quarter. Evercore Wealth Management LLC now owns 2,270 shares of the real estate investment trust’s stock worth $134,000 after purchasing an additional 350 shares during the last quarter. Independent Portfolio Consultants Inc. grew its holdings in shares of Prologis by 82.0% during the second quarter. Independent Portfolio Consultants Inc. now owns 2,718 shares of the real estate investment trust’s stock worth $159,000 after purchasing an additional 1,225 shares during the last quarter. Finally, Solaris Asset Management LLC grew its holdings in shares of Prologis by 11.0% during the second quarter. Solaris Asset Management LLC now owns 3,135 shares of the real estate investment trust’s stock worth $184,000 after purchasing an additional 310 shares during the last quarter. 95.94% of the stock is currently owned by institutional investors.
Prologis Company Profile
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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