Prologis (PLD) Receives Consensus Recommendation of “Buy” from Analysts

Prologis (NYSE:PLD) has received an average recommendation of “Buy” from the eighteen brokerages that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, fifteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $68.58.

PLD has been the topic of a number of analyst reports. Zacks Investment Research cut Prologis from a “hold” rating to a “sell” rating in a research report on Tuesday, December 26th. BMO Capital Markets set a $68.00 price target on Prologis and gave the company a “buy” rating in a research report on Tuesday, January 23rd. Cantor Fitzgerald set a $69.00 price target on Prologis and gave the company a “buy” rating in a research report on Tuesday, January 23rd. Jefferies Group reiterated a “neutral” rating on shares of Prologis in a research report on Wednesday, January 24th. Finally, Robert W. Baird upped their price target on Prologis from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, January 24th.

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In other news, Director William D. Zollars sold 4,020 shares of the 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 sale, the director now owns 20,225 shares in the company, valued at $1,223,208. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael S. Curless sold 14,465 shares of the stock in a transaction on Wednesday, March 28th. The stock was sold at an average price of $62.49, for a total value of $903,917.85. Following the sale, the insider now owns 102 shares in the company, valued at approximately $6,373.98. The disclosure for this sale can be found here. 1.32% of the stock is currently owned by corporate insiders.



Hedge funds have recently made changes to their positions in the company. Goldman Sachs Group Inc. grew its holdings in shares of Prologis by 8.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 8,652,177 shares of the real estate investment trust’s stock worth $558,151,000 after purchasing an additional 638,453 shares during the last quarter. Creative Planning lifted its stake in shares of Prologis by 38.2% during the fourth quarter. Creative Planning now owns 4,778 shares of the real estate investment trust’s stock valued at $308,000 after acquiring an additional 1,321 shares during the period. Deutsche Bank AG lifted its stake in shares of Prologis by 77.4% during the fourth quarter. Deutsche Bank AG now owns 6,099,545 shares of the real estate investment trust’s stock valued at $393,473,000 after acquiring an additional 2,661,525 shares during the period. Hedeker Wealth LLC lifted its stake in shares of Prologis by 6.9% during the fourth quarter. Hedeker Wealth LLC now owns 29,083 shares of the real estate investment trust’s stock valued at $1,876,000 after acquiring an additional 1,875 shares during the period. Finally, Slow Capital Inc. acquired a new position in shares of Prologis during the fourth quarter valued at $1,247,000. Institutional investors own 95.39% of the company’s stock.

Shares of NYSE PLD traded up $0.37 during trading hours on Thursday, reaching $65.25. The stock had a trading volume of 157,953 shares, compared to its average volume of 2,534,366. The company has a current ratio of 0.32, a quick ratio of 0.68 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $34,643.18, a price-to-earnings ratio of 23.09, a PEG ratio of 4.75 and a beta of 0.82. Prologis has a twelve month low of $53.15 and a twelve month high of $67.53.

Prologis (NYSE:PLD) last issued its earnings results on Tuesday, April 17th. The real estate investment trust reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.33. The business had revenue of $555.90 million during the quarter, compared to analyst estimates of $552.42 million. Prologis had a return on equity of 9.85% and a net margin of 67.65%. Prologis’s revenue was down 1.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.63 earnings per share. research analysts anticipate that Prologis will post 2.99 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 29th. Stockholders of record on Thursday, March 15th were issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 2.94%. The ex-dividend date was Wednesday, March 14th. This is a boost from Prologis’s previous quarterly dividend of $0.44. Prologis’s dividend payout ratio is presently 68.33%.

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Prologis Company Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of December 31, 2017, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 684 million square feet (64 million square meters) in 19 countries.

Analyst Recommendations for Prologis (NYSE:PLD)

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