Prologis Inc (NYSE:PLD) Given Average Recommendation of “Buy” by Analysts

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Shares of Prologis Inc (NYSE:PLD) have been assigned a consensus recommendation of “Buy” from the fifteen ratings firms that are covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $90.59.

Several equities analysts recently commented on the stock. Citigroup increased their price objective on shares of Prologis from $86.00 to $101.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Royal Bank of Canada set a $96.00 price objective on shares of Prologis and gave the company a “buy” rating in a research note on Friday, October 18th. BMO Capital Markets reissued a “buy” rating and issued a $95.00 price objective (up previously from $85.00) on shares of Prologis in a research note on Wednesday, November 6th. Wells Fargo & Co raised shares of Prologis from a “market perform” rating to an “outperform” rating and set a $100.00 price objective for the company in a research note on Tuesday, December 10th. Finally, SunTrust Banks increased their price objective on shares of Prologis from $89.00 to $95.00 and gave the company a “buy” rating in a research note on Friday, October 18th.

Several hedge funds have recently added to or reduced their stakes in PLD. Municipal Employees Retirement System of Michigan increased its position in shares of Prologis by 1.4% during the third quarter. Municipal Employees Retirement System of Michigan now owns 8,850 shares of the real estate investment trust’s stock worth $754,000 after buying an additional 120 shares during the period. Meeder Asset Management Inc. increased its position in shares of Prologis by 22.3% during the third quarter. Meeder Asset Management Inc. now owns 807 shares of the real estate investment trust’s stock worth $69,000 after buying an additional 147 shares during the period. Citizens Financial Group Inc RI increased its position in shares of Prologis by 9.7% during the third quarter. Citizens Financial Group Inc RI now owns 1,781 shares of the real estate investment trust’s stock worth $152,000 after buying an additional 157 shares during the period. Lincoln National Corp increased its position in shares of Prologis by 4.0% during the second quarter. Lincoln National Corp now owns 4,175 shares of the real estate investment trust’s stock worth $334,000 after buying an additional 159 shares during the period. Finally, Peapack Gladstone Financial Corp increased its position in shares of Prologis by 5.3% during the second quarter. Peapack Gladstone Financial Corp now owns 3,233 shares of the real estate investment trust’s stock worth $259,000 after buying an additional 164 shares during the period. 95.29% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:PLD opened at $88.54 on Tuesday. The company has a market cap of $56.17 billion, a price-to-earnings ratio of 29.22, a PEG ratio of 4.81 and a beta of 1.00. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.27 and a quick ratio of 1.27. The firm has a 50 day simple moving average of $89.62 and a 200 day simple moving average of $84.14. Prologis has a one year low of $55.21 and a one year high of $92.80.

Prologis (NYSE:PLD) last issued its quarterly earnings data on Tuesday, October 15th. The real estate investment trust reported $0.71 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.23. The business had revenue of $712.00 million during the quarter, compared to the consensus estimate of $715.40 million. Prologis had a net margin of 53.87% and a return on equity of 6.92%. The firm’s revenue was up 16.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.72 EPS. As a group, analysts expect that Prologis will post 3.31 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Thursday, December 19th will be paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 2.39%. The ex-dividend date is Wednesday, December 18th. Prologis’s payout ratio is currently 69.97%.

About Prologis

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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Analyst Recommendations for Prologis (NYSE:PLD)

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