Prologis (NYSE:PLD) Price Target Increased to $89.00 by Analysts at SunTrust Banks

Prologis (NYSE:PLD) had its price target hoisted by SunTrust Banks from $81.00 to $89.00 in a research report sent to investors on Tuesday, BenzingaRatingsTable reports. The firm currently has a buy rating on the real estate investment trust’s stock.

Other equities analysts also recently issued reports about the stock. BMO Capital Markets reissued a buy rating and issued a $85.00 price target on shares of Prologis in a research note on Wednesday, July 17th. Zacks Investment Research downgraded shares of Prologis from a buy rating to a hold rating in a research note on Thursday, May 16th. Deutsche Bank increased their price target 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 increased their price target on shares of Prologis from $79.00 to $86.00 and gave the stock an overweight rating in a research note on Wednesday, July 10th. Finally, Morgan Stanley increased their price target 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. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $78.04.

Prologis stock opened at $81.82 on Tuesday. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.43. The business’s 50-day moving average price is $81.22. The stock has a market capitalization of $51.65 billion, a price-to-earnings ratio of 27.00, a P/E/G ratio of 4.41 and a beta of 1.03. Prologis has a 1-year low of $55.21 and a 1-year high of $83.99.

Prologis (NYSE:PLD) last released its quarterly earnings results on Monday, July 15th. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, missing the Zacks’ 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 company had revenue of $700.69 million during the quarter, compared to the consensus estimate of $704.19 million. During the same period in the previous year, the company earned $0.71 earnings per share. Prologis’s quarterly revenue was up 28.6% on a year-over-year basis. Sell-side analysts anticipate that Prologis will post 3.28 earnings per share for the current year.

In other Prologis news, Director Philip L. Hawkins sold 9,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $78.72, for a total transaction of $708,480.00. Following the completion of the transaction, the director now owns 35,511 shares of the company’s stock, valued at $2,795,425.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Thomas S. Olinger sold 13,051 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $82.25, for a total transaction 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 approximately $1,699,860.75. The disclosure for this sale can be found here. Insiders have sold 34,551 shares of company stock valued at $2,803,425 in the last ninety days. Insiders own 1.10% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Berman Capital Advisors LLC increased its stake in shares of Prologis by 105.3% during 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 bought a new position in shares of Prologis during the first quarter valued at approximately $37,000. Hexavest Inc. bought a new position in shares of Prologis during the second quarter valued at approximately $42,000. Rational Advisors LLC increased 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 valued at $44,000 after purchasing an additional 236 shares in the last quarter. Finally, Coastal Investment Advisors Inc. increased 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 valued at $53,000 after purchasing an additional 638 shares in the last quarter. 95.35% of the stock is owned by institutional investors and hedge funds.

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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