Prologis (NYSE:PLD) Given New $118.00 Price Target at Evercore ISI

Prologis (NYSE:PLD) had its price target increased by Evercore ISI from $116.00 to $118.00 in a research report sent to investors on Monday,MarketScreener reports.

A number of other equities analysts have also recently issued reports on PLD. Barclays reduced their target price on Prologis from $119.00 to $118.00 and set an “overweight” rating on the stock in a report on Monday, September 15th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Prologis in a research note on Monday. BMO Capital Markets raised shares of Prologis from an “underperform” rating to a “market perform” rating and set a $119.00 price target on the stock in a research report on Monday, October 20th. Wells Fargo & Company lifted 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. Finally, Industrial Alliance Securities set a $119.00 price target on Prologis in a report on Monday, October 20th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $127.00.

Prologis Stock Up 0.9%

Shares of NYSE:PLD opened at $128.94 on Monday. 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 $119.77 billion, a P/E ratio of 37.59, a P/E/G ratio of 3.92 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 $126.36 and its two-hundred day moving average price is $115.79.

Prologis (NYSE:PLD) last announced 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 for the quarter. Prologis had a net margin of 36.71% and a return on equity of 5.55%. As a group, research analysts forecast that Prologis will post 5.73 EPS for the current fiscal year.

Prologis Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th will be paid a $1.01 dividend. The ex-dividend date of this dividend is Tuesday, December 16th. This represents a $4.04 annualized dividend and a dividend yield of 3.1%. Prologis’s dividend payout ratio (DPR) is currently 117.78%.

Insider Transactions at Prologis

In other news, Director Cristina Gabriela Bita sold 621 shares of Prologis stock in a transaction dated Monday, December 1st. The shares were 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 of the company’s stock, valued at $1,047,340.80. This trade represents a 7.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold 1,621 shares of company stock worth $198,655 over the last 90 days. Corporate insiders own 0.57% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PLD. Clayton Financial Group LLC bought a new position in Prologis during the third quarter worth $26,000. Activest Wealth Management grew its stake in Prologis by 637.1% in the 1st quarter. Activest Wealth Management now owns 258 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 223 shares during the last quarter. GKV Capital Management Co. Inc. bought a new position in Prologis in the 1st quarter valued at about $34,000. Silver Oak Securities Incorporated acquired a new stake in Prologis during the third quarter worth approximately $36,000. Finally, Rossby Financial LCC lifted its holdings in Prologis by 69.6% during the 3rd quarter. Rossby Financial LCC now owns 329 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 135 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors.

Prologis Company Profile

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.