Prologis Inc (NYSE:PLD) has earned an average rating of “Buy” from the seventeen brokerages that are presently covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $76.71.
PLD has been the subject of a number of analyst reports. Deutsche Bank set a €133.00 ($154.65) target price on shares of Deutsche Boerse and gave the company a “buy” rating in a research report on Thursday. Goldman Sachs Group initiated coverage on shares of Liberty Property Trust in a research report on Wednesday, May 15th. They issued a “neutral” rating and a $49.00 target price for the company. Morgan Stanley downgraded shares of Meili from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $14.00 to $4.20 in a research report on Monday, June 3rd. Citigroup set a $86.00 target price on shares of Prologis and gave the stock a “buy” rating in a research note on Thursday, June 6th. Finally, BMO Capital Markets cut their target price on shares of Wells Fargo & Co to $59.00 and set a “market perform” rating for the company in a research note on Wednesday.
Shares of PLD stock traded up $0.49 during trading hours on Friday, hitting $82.10. 46,895 shares of the company were exchanged, compared to its average volume of 2,349,346. The company has a 50 day moving average of $79.51. The company has a quick ratio of 0.36, a current ratio of 0.20 and a debt-to-equity ratio of 0.43. Prologis has a 52 week low of $55.21 and a 52 week high of $83.99. The stock has a market cap of $51.48 billion, a P/E ratio of 27.08, a PEG ratio of 4.54 and a beta of 1.03.
Prologis (NYSE:PLD) last issued its quarterly earnings data on Monday, July 15th. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 for the quarter, compared to the consensus estimate of $704.19 million. During the same period in the prior year, the company earned $0.71 EPS. The firm’s revenue was up 28.6% on a year-over-year basis. As a group, sell-side analysts forecast that Prologis will post 3.28 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Thursday, June 13th were paid a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 2.58%. The ex-dividend date was Wednesday, June 12th. Prologis’s dividend payout ratio (DPR) is 69.97%.
In related news, Director Philip L. Hawkins sold 9,000 shares of Prologis 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 sale, the director now directly owns 35,511 shares of the company’s stock, valued at approximately $2,795,425.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Edward S. Nekritz sold 30,671 shares of Prologis stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $75.01, for a total transaction of $2,300,631.71. Following the sale, the insider now directly owns 21,121 shares in the company, valued at $1,584,286.21. The disclosure for this sale can be found here. 1.10% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in the stock. Cornerstone Advisors Inc. grew its holdings in Prologis by 8.8% during the 2nd quarter. Cornerstone Advisors Inc. now owns 1,601 shares of the real estate investment trust’s stock worth $128,000 after acquiring an additional 130 shares during the last quarter. National Asset Management Inc. lifted its position in shares of Prologis by 2.9% in the 1st quarter. National Asset Management Inc. now owns 4,853 shares of the real estate investment trust’s stock worth $351,000 after purchasing an additional 135 shares during the period. Avitas Wealth Management LLC lifted its position in shares of Prologis by 0.3% in the 1st quarter. Avitas Wealth Management LLC now owns 40,105 shares of the real estate investment trust’s stock worth $2,886,000 after purchasing an additional 138 shares during the period. Exane Derivatives lifted its position in shares of Prologis by 18.8% in the 2nd quarter. Exane Derivatives now owns 968 shares of the real estate investment trust’s stock worth $78,000 after purchasing an additional 153 shares during the period. Finally, Ashfield Capital Partners LLC lifted its position in shares of Prologis by 1.8% in the 1st quarter. Ashfield Capital Partners LLC now owns 8,550 shares of the real estate investment trust’s stock worth $615,000 after purchasing an additional 155 shares during the period. 95.42% of the stock is currently owned by institutional investors.
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.
Further Reading: Price-Sales Ratio
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