Investment analysts at BMO Capital Markets assumed coverage on shares of Prologis, Inc. (NYSE:PLD) in a research note issued to investors on Monday. The firm set an “outperform” rating and a $69.00 price target on the real estate investment trust’s stock. BMO Capital Markets’ price objective would indicate a potential upside of 6.71% from the stock’s current price.
PLD has been the topic of several other reports. SunTrust Banks, Inc. upgraded Prologis from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research note on Tuesday, September 5th. Stifel Nicolaus boosted their price target on Prologis from $57.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, May 30th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $59.00 price objective on shares of Prologis in a report on Thursday, June 8th. Zacks Investment Research raised Prologis from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a report on Wednesday, June 14th. Finally, Bank of America Corporation raised Prologis from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $58.00 to $65.00 in a report on Friday, June 23rd. 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 presently has a consensus rating of “Buy” and a consensus target price of $60.56.
Prologis (PLD) opened at 64.66 on Monday. The company has a market cap of $34.39 billion, a P/E ratio of 29.02 and a beta of 0.93. The firm’s 50-day moving average price is $61.86 and its 200-day moving average price is $56.57. Prologis has a 12-month low of $45.93 and a 12-month high of $65.36.
Prologis (NYSE:PLD) last issued its quarterly earnings results on Tuesday, July 18th. The real estate investment trust reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.06. Prologis had a return on equity of 6.65% and a net margin of 43.99%. The firm had revenue of $766.18 million for the quarter, compared to analyst estimates of $576.00 million. During the same period in the previous year, the company posted $0.60 earnings per share. The company’s quarterly revenue was up 27.2% compared to the same quarter last year. Analysts expect that Prologis will post ($0.27) EPS for the current year.
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In other news, CEO Gary E. Anderson sold 65,000 shares of the business’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $58.55, for a total value of $3,805,750.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Carl B. Webb sold 20,000 shares of the business’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 value of $1,227,600.00. Following the completion of the transaction, the director now directly 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 owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. Brookfield Asset Management Inc. acquired a new position in shares of Prologis in the 1st quarter worth approximately $227,403,000. Sprott Inc. acquired a new position in shares of Prologis in the 1st quarter worth approximately $306,000. Ameriprise Financial Inc. boosted its holdings in shares of Prologis by 13.4% in the 1st quarter. Ameriprise Financial Inc. now owns 3,578,338 shares of the real estate investment trust’s stock worth $185,307,000 after acquiring an additional 422,806 shares in the last quarter. Wesbanco Bank Inc. boosted its holdings in shares of Prologis by 76.9% in the 2nd quarter. Wesbanco Bank Inc. now owns 29,900 shares of the real estate investment trust’s stock worth $1,753,000 after acquiring an additional 13,000 shares in the last quarter. Finally, Swiss National Bank boosted its holdings in shares of Prologis by 3.2% in the 2nd quarter. Swiss National Bank now owns 1,933,060 shares of the real estate investment trust’s stock worth $113,355,000 after acquiring an additional 60,000 shares in the last quarter. 96.00% of the stock is currently owned by institutional investors and hedge funds.
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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