Prologis Inc (NYSE:PLD) has been assigned an average rating of “Buy” from the eighteen ratings firms that are presently covering the company, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $71.00.
A number of brokerages have weighed in on PLD. Zacks Investment Research upgraded Prologis from a “hold” rating to a “buy” rating and set a $72.00 target price on the stock in a research note on Wednesday, June 20th. Barclays upped their target price on Prologis from $71.00 to $73.00 and gave the stock an “overweight” rating in a research note on Thursday, August 2nd. BTIG Research set a $73.00 target price on Prologis and gave the stock a “buy” rating in a research note on Thursday, August 23rd. ValuEngine lowered Prologis from a “buy” rating to a “hold” rating in a research note on Thursday, July 19th. Finally, Bank of America upped their target price on Prologis from $72.00 to $73.00 and gave the stock a “buy” rating in a research note on Monday, September 10th.
PLD traded up $0.07 during trading on Friday, reaching $67.43. 52,818 shares of the company were exchanged, compared to its average volume of 2,782,924. The stock has a market capitalization of $41.52 billion, a price-to-earnings ratio of 23.85, a price-to-earnings-growth ratio of 4.37 and a beta of 0.74. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.73 and a current ratio of 0.73. Prologis has a 12-month low of $58.28 and a 12-month high of $68.20.
Prologis (NYSE:PLD) last issued its quarterly earnings data on Tuesday, July 17th. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.71. The business had revenue of $621.00 million for the quarter, compared to analysts’ expectations of $557.43 million. Prologis had a return on equity of 10.11% and a net margin of 74.17%. The firm’s quarterly revenue was down 18.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.84 EPS. research analysts forecast that Prologis will post 3.02 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Monday, September 17th will be given a dividend of $0.48 per share. The ex-dividend date is Friday, September 14th. This represents a $1.92 annualized dividend and a dividend yield of 2.85%. Prologis’s dividend payout ratio (DPR) is presently 68.33%.
In other news, Director William D. Zollars sold 8,020 shares of the stock in a transaction dated Monday, July 23rd. The stock was sold at an average price of $62.45, for a total transaction of $500,849.00. Following the transaction, the director now directly owns 11,490 shares in the company, valued at approximately $717,550.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Edward S. Nekritz sold 22,213 shares of the stock in a transaction dated Thursday, June 28th. The shares were sold at an average price of $64.87, for a total value of $1,440,957.31. Following the transaction, the insider now owns 124,201 shares in the company, valued at $8,056,918.87. The disclosure for this sale can be found here. Insiders have sold a total of 36,996 shares of company stock worth $2,385,662 over the last quarter. Corporate insiders own 1.31% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. BlackRock Inc. boosted its holdings in Prologis by 4.9% during the 2nd quarter. BlackRock Inc. now owns 57,370,073 shares of the real estate investment trust’s stock valued at $3,768,639,000 after acquiring an additional 2,674,518 shares during the period. Northern Trust Corp boosted its holdings in Prologis by 2.9% during the 1st quarter. Northern Trust Corp now owns 9,336,537 shares of the real estate investment trust’s stock valued at $588,109,000 after acquiring an additional 263,787 shares during the period. Cbre Clarion Securities LLC boosted its holdings in Prologis by 2.7% during the 2nd quarter. Cbre Clarion Securities LLC now owns 7,919,441 shares of the real estate investment trust’s stock valued at $520,228,000 after acquiring an additional 210,819 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Prologis by 1.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,900,910 shares of the real estate investment trust’s stock valued at $519,006,000 after acquiring an additional 90,370 shares during the period. Finally, Bank of America Corp DE boosted its holdings in Prologis by 7.1% during the 2nd quarter. Bank of America Corp DE now owns 6,028,563 shares of the real estate investment trust’s stock valued at $396,017,000 after acquiring an additional 400,104 shares during the period. Hedge funds and other institutional investors own 80.57% of the company’s stock.
Prologis Company Profile
Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of June 30, 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 685 million square feet (64 million square meters) in 19 countries.
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