Barclays reaffirmed their overweight rating on shares of Prologis (NYSE:PLD) in a research report released on Friday, February 16th. The firm currently has a $72.00 target price on the real estate investment trust’s stock.
Several other research analysts have also recently issued reports on PLD. Citigroup increased their price target on Prologis from $63.00 to $66.00 and gave the stock a neutral rating in a research note on Thursday, October 19th. Bank of America set a $72.00 price target on Prologis and gave the stock a buy rating in a research note on Wednesday, October 25th. Wells Fargo & Co set a $65.00 price target on Prologis and gave the stock a hold rating in a research note on Thursday, October 26th. Evercore ISI raised Prologis from an in-line rating to an outperform rating in a research note on Monday, December 4th. Finally, JPMorgan Chase & Co. lowered Prologis from an overweight rating to a neutral rating and set a $66.00 price objective for the company. in a report on Friday, December 15th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of Buy and an average target price of $67.56.
Prologis (NYSE:PLD) traded up $0.33 during trading hours on Friday, hitting $63.22. The stock had a trading volume of 1,719,799 shares, compared to its average volume of 2,990,000. Prologis has a 12 month low of $48.80 and a 12 month high of $67.53. The company has a market capitalization of $33,640.00, a PE ratio of 20.73, a price-to-earnings-growth ratio of 4.78 and a beta of 0.88. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.68 and a current ratio of 0.68.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Thursday, March 15th will be issued a $0.48 dividend. This is a positive change from Prologis’s previous quarterly dividend of $0.44. The ex-dividend date is Wednesday, March 14th. This represents a $1.92 annualized dividend and a dividend yield of 3.04%. Prologis’s dividend payout ratio is 57.70%.
In other news, Director William D. Zollars sold 4,020 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $60.48, for a total transaction of $243,129.60. Following the completion of the sale, the director now directly owns 20,225 shares of the company’s stock, valued at $1,223,208. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Lori A. Palazzolo sold 4,900 shares of the company’s stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $65.89, for a total value of $322,861.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 70,872 shares of company stock valued at $4,646,598. Insiders own 1.31% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Virtue Capital Management LLC purchased a new stake in shares of Prologis during the fourth quarter valued at $143,000. Parallel Advisors LLC lifted its stake in Prologis by 66.3% in the 4th quarter. Parallel Advisors LLC now owns 2,509 shares of the real estate investment trust’s stock worth $162,000 after acquiring an additional 1,000 shares in the last quarter. Bronfman E.L. Rothschild L.P. lifted its stake in Prologis by 75.5% in the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 2,678 shares of the real estate investment trust’s stock worth $173,000 after acquiring an additional 1,152 shares in the last quarter. Premia Global Advisors LLC purchased a new stake in Prologis in the 4th quarter worth about $192,000. Finally, Catalyst Capital Advisors LLC purchased a new stake in Prologis in the 4th quarter worth about $200,000. 95.39% of the stock is owned by institutional investors and hedge funds.
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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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