Prologis Inc (NYSE:PLD) had its price target boosted by investment analysts at Evercore ISI from $58.00 to $59.00 in a research report issued to clients and investors on Wednesday. The firm currently has an “outperform” rating on the real estate investment trust’s stock. Evercore ISI’s target price would indicate a potential upside of 8.20% from the company’s current price.
A number of other brokerages also recently issued reports on PLD. BTIG Research reissued a “buy” rating and issued a $57.00 price target on shares of Prologis in a report on Tuesday, April 11th. Jefferies Group LLC reissued a “hold” rating and issued a $52.00 price target on shares of Prologis in a report on Tuesday, February 14th. Barclays PLC increased their price target on shares of Prologis from $54.00 to $56.00 and gave the stock an “overweight” rating in a report on Wednesday, February 8th. Finally, Zacks Investment Research downgraded shares of Prologis from a “buy” rating to a “hold” rating in a report on Wednesday, January 11th. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $53.94.
Prologis (NYSE:PLD) traded up 0.42% during mid-day trading on Wednesday, hitting $54.53. 2,336,611 shares of the stock were exchanged. Prologis has a 52 week low of $43.96 and a 52 week high of $55.93. The company has a market capitalization of $28.87 billion, a PE ratio of 24.03 and a beta of 1.05. The stock’s 50-day moving average is $51.67 and its 200 day moving average is $51.13.
Prologis (NYSE:PLD) last issued its earnings results on Tuesday, April 18th. The real estate investment trust reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.01. The firm earned $629.16 million during the quarter, compared to analyst estimates of $555.37 million. Prologis had a net margin of 47.76% and a return on equity of 6.62%. The company’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the business earned $0.61 earnings per share. On average, analysts anticipate that Prologis will post ($0.27) EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, March 31st. Stockholders of record on Wednesday, March 15th were issued a $0.44 dividend. This is a boost from Prologis’s previous quarterly dividend of $0.42. The ex-dividend date was Monday, March 13th. This represents a $1.76 annualized dividend and a dividend yield of 3.23%. Prologis’s dividend payout ratio (DPR) is currently 74.67%.
In other news, CEO Eugene F. Reilly sold 70,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 16th. The shares were sold at an average price of $50.72, for a total value of $3,550,400.00. Following the transaction, the chief executive officer now owns 150,650 shares in the company, valued at $7,640,968. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Edward S. Nekritz sold 84,434 shares of the firm’s stock in a transaction that occurred on Monday, March 20th. The stock was sold at an average price of $51.45, for a total transaction of $4,344,129.30. Following the completion of the transaction, the insider now owns 202,115 shares in the company, valued at approximately $10,398,816.75. The disclosure for this sale can be found here. 1.29% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Acadian Asset Management LLC purchased a new position in shares of Prologis during the third quarter valued at about $250,000. Parkwood LLC bought a new stake in Prologis during the third quarter valued at $275,000. CENTRAL TRUST Co boosted its stake in Prologis by 16.2% in the third quarter. CENTRAL TRUST Co now owns 6,456 shares of the real estate investment trust’s stock valued at $346,000 after buying an additional 899 shares during the period. Solaris Asset Management LLC bought a new stake in Prologis during the third quarter valued at $131,000. Finally, Green Street Investors LLC bought a new stake in Prologis during the third quarter valued at $8,588,000.
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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