Prologis (NYSE:PLD) has been assigned a $80.00 target price by investment analysts at Evercore ISI in a research report issued on Monday, TipRanks reports. The firm presently has a “hold” rating on the real estate investment trust’s stock. Evercore ISI’s target price points to a potential downside of 0.32% from the company’s previous close.
Other equities research analysts have also recently issued research reports about the stock. Morgan Stanley lifted their target price on shares of Prologis from $75.00 to $78.50 and gave the stock an “overweight” rating in a research note on Monday, June 3rd. Deutsche Bank lifted their target price on shares of Prologis from $74.00 to $82.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. KeyCorp lifted their price target on Prologis from $79.00 to $86.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Goldman Sachs Group initiated coverage on Prologis in a report on Wednesday, May 15th. They set a “conviction-buy” rating on the stock. Finally, SunTrust Banks lifted their price target on Prologis from $81.00 to $89.00 and gave the stock a “buy” rating in a report on Tuesday. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $78.18.
PLD traded down $1.56 on Monday, hitting $80.26. 2,270,962 shares of the company’s stock were exchanged, compared to its average volume of 2,347,555. Prologis has a fifty-two week low of $55.21 and a fifty-two week high of $83.99. 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’s 50-day simple moving average is $81.22. The company has a market capitalization of $51.65 billion, a PE ratio of 26.65, a price-to-earnings-growth ratio of 4.41 and a beta of 1.03.
Prologis (NYSE:PLD) last announced its earnings results on Monday, July 15th. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.16). Prologis had a return on equity of 6.55% and a net margin of 55.04%. The business had revenue of $700.69 million for the quarter, compared to analyst estimates of $704.19 million. During the same period last year, the firm earned $0.71 EPS. The company’s revenue for the quarter was up 28.6% compared to the same quarter last year. As a group, equities research analysts forecast that Prologis will post 3.28 EPS for the current fiscal year.
In other news, insider Eugene F. Reilly sold 12,500 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly owns 10,685 shares of the company’s stock, valued at $873,178.20. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Thomas S. Olinger sold 13,051 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $82.25, for a total value of $1,073,444.75. Following the transaction, the chief financial officer now directly owns 20,667 shares of the company’s stock, valued at $1,699,860.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,551 shares of company stock valued at $2,803,425. Corporate insiders own 1.10% of the company’s stock.
Several institutional investors have recently made changes to their positions in PLD. Berman Capital Advisors LLC boosted its holdings in Prologis by 105.3% in the first quarter. Berman Capital Advisors LLC now owns 388 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 199 shares in the last quarter. Thor Advisors LLC purchased a new stake in Prologis in the first quarter valued at approximately $37,000. Hexavest Inc. purchased a new stake in Prologis in the second quarter valued at approximately $42,000. Rational Advisors LLC raised its stake in shares of Prologis by 61.8% during the first quarter. Rational Advisors LLC now owns 618 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 236 shares during the last quarter. Finally, Coastal Investment Advisors Inc. raised its stake in shares of Prologis by 1,772.2% during the second quarter. Coastal Investment Advisors Inc. now owns 674 shares of the real estate investment trust’s stock worth $53,000 after purchasing an additional 638 shares during the last quarter. 95.35% of the stock is owned by institutional investors and hedge funds.
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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