BMO Capital Markets reaffirmed their buy rating on shares of Prologis (NYSE:PLD) in a research report released on Wednesday morning, AnalystRatings.com reports. BMO Capital Markets currently has a $85.00 price objective on the real estate investment trust’s stock.
Several other equities research analysts have also weighed in on PLD. Zacks Investment Research lowered G1 Therapeutics from a buy rating to a hold rating in a research note on Thursday, May 16th. Goldman Sachs Group initiated coverage on Liberty Property Trust in a research note on Wednesday, May 15th. They set a neutral rating and a $49.00 price objective for the company. Morgan Stanley lowered Meili from an equal weight rating to an underweight rating and reduced their price objective for the stock from $14.00 to $4.20 in a research note on Monday, June 3rd. Citigroup set a $86.00 price objective on Prologis and gave the stock a buy rating in a research note on Thursday, June 6th. Finally, KeyCorp increased their target price on Terreno Realty from $49.00 to $52.00 and gave the company an overweight rating in a report on Wednesday, July 10th. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Prologis has an average rating of Buy and an average price target of $76.58.
PLD opened at $80.74 on Wednesday. The company has a market cap of $50.93 billion, a price-to-earnings ratio of 26.74, a PEG ratio of 4.51 and a beta of 1.03. The company has a current ratio of 0.20, a quick ratio of 0.36 and a debt-to-equity ratio of 0.43. The stock’s fifty day moving average is $79.85. Prologis has a fifty-two week low of $55.21 and a fifty-two week high of $83.99.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Thursday, June 13th were issued a $0.53 dividend. The ex-dividend date was Wednesday, June 12th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.63%. Prologis’s payout ratio is currently 69.97%.
In related news, insider Edward S. Nekritz sold 30,671 shares of the stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $75.01, for a total transaction of $2,300,631.71. Following the completion of the sale, the insider now directly owns 21,121 shares in the company, valued at $1,584,286.21. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Philip L. Hawkins sold 9,000 shares of the stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $78.72, for a total value of $708,480.00. Following the sale, the director now owns 35,511 shares of the company’s stock, valued at $2,795,425.92. The disclosure for this sale can be found here. 1.10% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the stock. Comerica Securities Inc. boosted its position in Prologis by 58.0% in the fourth quarter. Comerica Securities Inc. now owns 6,659 shares of the real estate investment trust’s stock valued at $391,000 after buying an additional 2,445 shares during the last quarter. Bessemer Group Inc. boosted its position in Prologis by 122.0% in the fourth quarter. Bessemer Group Inc. now owns 1,572 shares of the real estate investment trust’s stock valued at $91,000 after buying an additional 864 shares during the last quarter. Geode Capital Management LLC boosted its position in Prologis by 7.4% in the fourth quarter. Geode Capital Management LLC now owns 9,243,695 shares of the real estate investment trust’s stock valued at $541,949,000 after buying an additional 636,563 shares during the last quarter. D. E. Shaw & Co. Inc. boosted its position in Prologis by 9.3% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 70,223 shares of the real estate investment trust’s stock valued at $4,123,000 after buying an additional 5,982 shares during the last quarter. Finally, Suntrust Banks Inc. boosted its position in Prologis by 7.2% in the fourth quarter. Suntrust Banks Inc. now owns 22,827 shares of the real estate investment trust’s stock valued at $1,341,000 after buying an additional 1,541 shares during the last quarter. Institutional investors and hedge funds own 95.42% of the company’s stock.
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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