BMO Capital Markets began coverage on shares of Prologis, Inc. (NYSE:PLD) in a report issued on Monday morning. The brokerage issued an outperform rating and a $69.00 price target on the real estate investment trust’s stock.
Several other analysts have also recently weighed in on the stock. SunTrust Banks, Inc. raised shares of Prologis from a hold rating to a buy rating and set a $58.00 price objective on the stock in a research note on Tuesday, September 5th. KeyCorp reaffirmed a buy rating and set a $65.00 price objective on shares of Prologis in a research note on Sunday, August 27th. Jefferies Group LLC reaffirmed a hold rating and set a $66.00 price objective (up from $59.00) on shares of Prologis in a research note on Thursday, August 24th. BidaskClub raised shares of Prologis from a buy rating to a strong-buy rating in a research note on Friday, August 18th. Finally, Zacks Investment Research cut shares of Prologis from a buy rating to a hold rating in a research note on Thursday, August 3rd. Four equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Prologis currently has a consensus rating of Buy and a consensus target price of $60.56.
Shares of Prologis (PLD) opened at 65.13 on Monday. The stock’s 50 day moving average price is $61.77 and its 200-day moving average price is $56.50. The company has a market cap of $34.64 billion, a PE ratio of 29.23 and a beta of 0.93. Prologis has a 12-month low of $45.93 and a 12-month high of $65.13.
Prologis (NYSE:PLD) last posted its earnings results on Tuesday, July 18th. The real estate investment trust reported $0.84 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.06. The business had revenue of $766.18 million for the quarter, compared to analysts’ expectations of $576 million. Prologis had a net margin of 43.99% and a return on equity of 6.65%. The firm’s revenue for the quarter was up 27.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.60 earnings per share. On average, equities research analysts forecast that Prologis will post ($0.27) earnings per share for the current year.
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The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Monday, September 18th will be given a dividend of $0.44 per share. The ex-dividend date is Friday, September 15th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.70%. Prologis’s payout ratio is 79.28%.
In other news, CEO Gary E. Anderson sold 65,000 shares of the company’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $58.55, for a total transaction of $3,805,750.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Carl B. Webb sold 20,000 shares of the company’s stock in a transaction that occurred on 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 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. 1.31% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in the company. Guardian Life Insurance Co. of America lifted its holdings in 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 period. Shine Investment Advisory Services Inc. lifted its holdings in Prologis by 0.6% in the second quarter. Shine Investment Advisory Services Inc. now owns 8,929 shares of the real estate investment trust’s stock valued at $524,000 after buying an additional 52 shares during the period. Creative Planning lifted its holdings in Prologis by 3.4% in the second quarter. Creative Planning now owns 2,078 shares of the real estate investment trust’s stock valued at $122,000 after buying an additional 69 shares during the period. National Asset Management Inc. lifted its holdings in Prologis by 1.5% in the second quarter. National Asset Management Inc. now owns 5,137 shares of the real estate investment trust’s stock valued at $302,000 after buying an additional 75 shares during the period. Finally, LS Investment Advisors LLC lifted its holdings in Prologis by 0.5% in the second quarter. LS Investment Advisors LLC now owns 15,478 shares of the real estate investment trust’s stock valued at $908,000 after buying an additional 76 shares during the period. Institutional investors own 96.00% 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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