Prologis, Inc. (NYSE:PLD) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, July 25th.
A number of other research analysts have also issued reports on PLD. BTIG Research reiterated a “buy” rating and set a $57.00 price target on shares of Prologis in a research note on Tuesday, April 11th. Evercore ISI boosted their price target on shares of Prologis from $58.00 to $59.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 19th. Zacks Investment Research lowered shares of Prologis from a “buy” rating to a “hold” rating in a research note on Thursday, April 20th. Citigroup Inc. boosted their price target on shares of Prologis from $50.00 to $56.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 25th. Finally, Stifel Nicolaus boosted their price target on shares of Prologis from $57.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, May 30th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $59.60.
Shares of Prologis (NYSE PLD) opened at 61.36 on Tuesday. Prologis has a 1-year low of $45.93 and a 1-year high of $61.81. The stock’s 50 day moving average is $58.87 and its 200 day moving average is $54.22. The stock has a market capitalization of $32.64 billion, a price-to-earnings ratio of 27.54 and a beta of 0.94.
Prologis (NYSE:PLD) last issued its quarterly earnings results on Tuesday, July 18th. The real estate investment trust reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.06. Prologis had a net margin of 43.99% and a return on equity of 6.65%. The business had revenue of $766.18 million for the quarter, compared to analyst estimates of $576 million. During the same period in the previous year, the business posted $0.60 earnings per share. The business’s revenue was up 27.2% compared to the same quarter last year. On average, equities analysts forecast that Prologis will post ($0.27) EPS for the current year.
In other Prologis news, CEO Hamid R. Moghadam sold 271,788 shares of the stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $56.04, for a total transaction of $15,230,999.52. Following the transaction, the chief executive officer now directly owns 36,997 shares in the company, valued at approximately $2,073,311.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Carl B. Webb sold 20,000 shares of the firm’s stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $61.38, for a total transaction of $1,227,600.00. Following the completion of the transaction, the director now owns 66,078 shares in the company, valued at $4,055,867.64. The disclosure for this sale can be found here. Insiders sold 483,807 shares of company stock valued at $27,400,851 in the last three months. Company insiders own 1.31% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in PLD. Creative Planning boosted its position in shares of Prologis by 13.2% in the first quarter. Creative Planning now owns 2,009 shares of the real estate investment trust’s stock valued at $104,000 after buying an additional 234 shares during the last quarter. Guardian Life Insurance Co. of America raised its position in shares of Prologis by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 2,039 shares of the real estate investment trust’s stock valued at $106,000 after buying an additional 14 shares during the last quarter. IFP Advisors Inc raised its position in shares of Prologis by 10.7% in the first quarter. IFP Advisors Inc now owns 2,249 shares of the real estate investment trust’s stock valued at $117,000 after buying an additional 218 shares during the last quarter. Independent Portfolio Consultants Inc. raised its position in shares of Prologis by 82.0% in the second quarter. Independent Portfolio Consultants Inc. now owns 2,718 shares of the real estate investment trust’s stock valued at $159,000 after buying an additional 1,225 shares during the last quarter. Finally, Solaris Asset Management LLC raised its position in shares of Prologis by 1.8% in the first quarter. Solaris Asset Management LLC now owns 2,825 shares of the real estate investment trust’s stock valued at $147,000 after buying an additional 50 shares during the last quarter. Institutional investors own 95.96% of the company’s stock.
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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