Prologis (NYSE:PLD) Price Target Increased to $87.00 by Analysts at Deutsche Bank

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Prologis (NYSE:PLD) had its price target hoisted by Deutsche Bank from $82.00 to $87.00 in a research note published on Thursday, The Fly reports. They currently have a buy rating on the real estate investment trust’s stock.

Several other analysts have also issued reports on the stock. SunTrust Banks lifted their target price on shares of Prologis from $81.00 to $89.00 and gave the company a buy rating in a research report on Tuesday, August 13th. Evercore ISI set a $80.00 target price on shares of Prologis and gave the company a hold rating in a research report on Monday, August 12th. BMO Capital Markets reiterated a buy rating and issued a $85.00 target price on shares of Prologis in a research report on Wednesday, July 17th. Barclays set a $92.00 target price on shares of Prologis and gave the company a buy rating in a research report on Friday, October 11th. Finally, KeyCorp lifted their target price on shares of Prologis from $79.00 to $86.00 and gave the company an overweight rating in a research report on Wednesday, July 10th. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of $85.88.

PLD traded up $0.46 on Thursday, reaching $89.62. The stock had a trading volume of 104,989 shares, compared to its average volume of 1,980,831. Prologis has a 12-month low of $55.21 and a 12-month high of $89.47. The company has a current ratio of 0.50, a quick ratio of 0.54 and a debt-to-equity ratio of 0.44. The business’s 50-day moving average price is $85.07 and its two-hundred day moving average price is $79.96. The company has a market cap of $56.24 billion, a P/E ratio of 29.62, a price-to-earnings-growth ratio of 4.76 and a beta of 1.01.

Prologis (NYSE:PLD) last released its quarterly earnings data on Tuesday, October 15th. The real estate investment trust reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.23. Prologis had a net margin of 53.87% and a return on equity of 6.92%. The company had revenue of $712.00 million during the quarter, compared to analysts’ expectations of $715.40 million. During the same quarter in the previous year, the company earned $0.72 earnings per share. The firm’s revenue for the quarter was up 16.5% on a year-over-year basis. As a group, analysts predict that Prologis will post 3.3 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 20th were given a $0.53 dividend. The ex-dividend date was Thursday, September 19th. This represents a $2.12 annualized dividend and a dividend yield of 2.37%. Prologis’s dividend payout ratio (DPR) is 69.97%.

In related news, insider Eugene F. Reilly sold 12,500 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $81.72, for a total transaction of $1,021,500.00. Following the transaction, the insider now directly owns 10,685 shares in the company, valued at $873,178.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Thomas S. Olinger sold 13,051 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The stock was 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 owns 20,667 shares in the company, valued at $1,699,860.75. The disclosure for this sale can be found here. 1.10% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in Prologis by 0.4% during the second quarter. Vanguard Group Inc. now owns 82,772,891 shares of the real estate investment trust’s stock worth $6,630,109,000 after acquiring an additional 307,216 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Prologis by 22.6% during the second quarter. Price T Rowe Associates Inc. MD now owns 20,391,209 shares of the real estate investment trust’s stock worth $1,633,336,000 after acquiring an additional 3,763,203 shares during the last quarter. Invesco Ltd. boosted its position in Prologis by 52.6% during the second quarter. Invesco Ltd. now owns 16,686,890 shares of the real estate investment trust’s stock worth $1,336,620,000 after acquiring an additional 5,752,196 shares during the last quarter. Northern Trust Corp boosted its position in Prologis by 3.7% during the second quarter. Northern Trust Corp now owns 11,252,225 shares of the real estate investment trust’s stock worth $901,303,000 after acquiring an additional 397,397 shares during the last quarter. Finally, Nuveen Asset Management LLC boosted its position in Prologis by 320.0% during the second quarter. Nuveen Asset Management LLC now owns 9,862,940 shares of the real estate investment trust’s stock worth $790,021,000 after acquiring an additional 7,514,715 shares during the last quarter. Hedge funds and other institutional investors own 96.00% of the company’s stock.

Prologis Company Profile

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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