Prologis (NYSE:PLD) received a $95.00 target price from equities researchers at Stifel Nicolaus in a research note issued on Tuesday, TipRanks reports. The brokerage currently has a “buy” rating on the real estate investment trust’s stock. Stifel Nicolaus’ price objective would suggest a potential upside of 6.42% from the company’s previous close.
Several other equities analysts have also recently issued reports on PLD. Deutsche Bank boosted their target price on shares of Prologis from $82.00 to $87.00 and gave the company a “buy” rating in a research note on Thursday. ValuEngine cut shares of Prologis from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Wells Fargo & Co reiterated a “market perform” rating and issued a $91.00 target price (up from $84.00) on shares of Prologis in a research note on Thursday. SunTrust Banks boosted their target price on shares of Prologis from $81.00 to $89.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. Finally, Barclays set a $92.00 target price on shares of Prologis and gave the company a “buy” rating in a research note on Friday, October 11th. Five analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Prologis presently has a consensus rating of “Buy” and a consensus target price of $85.38.
Shares of PLD traded up $0.23 during trading hours on Tuesday, hitting $89.27. The stock had a trading volume of 74,676 shares, compared to its average volume of 1,955,043. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.54 and a current ratio of 0.54. The firm has a 50-day moving average price of $84.95 and a 200 day moving average price of $79.87. Prologis has a fifty-two week low of $55.21 and a fifty-two week high of $89.32. The firm has a market capitalization of $54.44 billion, a price-to-earnings ratio of 29.39, a PEG ratio of 4.65 and a beta of 1.01.
Prologis (NYSE:PLD) last posted its earnings results on Tuesday, October 15th. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.23. Prologis had a net margin of 55.04% and a return on equity of 6.55%. The firm had revenue of $712.00 million during the quarter, compared to analysts’ expectations of $715.40 million. During the same period in the previous year, the business posted $0.72 EPS. The business’s revenue was up 16.5% compared to the same quarter last year. As a group, analysts predict that Prologis will post 3.3 EPS for the current fiscal year.
In related news, CFO Thomas S. Olinger sold 13,051 shares of the business’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $82.25, for a total value of $1,073,444.75. Following the completion of the sale, the chief financial officer now owns 20,667 shares of the company’s stock, valued at approximately $1,699,860.75. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Eugene F. Reilly sold 12,500 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $81.72, for a total transaction of $1,021,500.00. Following the completion of the sale, the insider now directly owns 10,685 shares of the company’s stock, valued at approximately $873,178.20. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Prestige Wealth Management Group LLC purchased a new stake in shares of Prologis during the second quarter worth $39,000. Hexavest Inc. purchased a new stake in shares of Prologis in the second quarter valued at about $42,000. HM Payson & Co. purchased a new stake in shares of Prologis in the second quarter valued at about $43,000. Coastal Investment Advisors Inc. grew its holdings in shares of Prologis by 1,772.2% in the second quarter. Coastal Investment Advisors Inc. now owns 674 shares of the real estate investment trust’s stock valued at $53,000 after purchasing an additional 638 shares during the period. Finally, Meeder Asset Management Inc. grew its holdings in shares of Prologis by 4,300.0% in the second quarter. Meeder Asset Management Inc. now owns 660 shares of the real estate investment trust’s stock valued at $53,000 after purchasing an additional 645 shares during the period. 96.00% of the stock is owned by institutional investors.
Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of December 31, 2018, 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 768 million square feet (71 million square meters) in 19 countries.
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