Prologis (NYSE:PLD) Reaches New 52-Week High After Analyst Upgrade

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Prologis Inc (NYSE:PLD)’s share price reached a new 52-week high during mid-day trading on Monday after Citigroup raised their price target on the stock from $86.00 to $101.00. Citigroup currently has a buy rating on the stock. Prologis traded as high as $90.16 and last traded at $90.02, with a volume of 20584 shares trading hands. The stock had previously closed at $89.61.

Other equities research analysts also recently issued research reports about the stock. Wells Fargo & Co upped their price target on shares of Prologis from $84.00 to $91.00 and gave the company a “market perform” rating in a research note on Thursday, October 17th. Barclays set a $92.00 target price on shares of Prologis and gave the company a “buy” rating in a research note on Friday, October 11th. SunTrust Banks increased their target price on shares of Prologis from $89.00 to $95.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Evercore ISI set a $80.00 target price on shares of Prologis and gave the company a “hold” rating in a research note on Monday, August 12th. Finally, Stifel Nicolaus set a $95.00 target price on shares of Prologis and gave the company a “buy” rating in a research note on Tuesday, October 15th. Five analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $87.81.

In other news, insider Eugene F. Reilly sold 12,500 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $81.72, for a total value of $1,021,500.00. Following the sale, the insider now owns 10,685 shares of the company’s stock, valued at $873,178.20. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.10% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Prestige Wealth Management Group LLC purchased a new position in Prologis in the 2nd quarter worth about $39,000. Hexavest Inc. purchased a new position in Prologis in the 2nd quarter worth about $42,000. HM Payson & Co. purchased a new position in Prologis in the 2nd quarter worth about $43,000. Meeder Asset Management Inc. increased its stake in Prologis by 4,300.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 660 shares of the real estate investment trust’s stock worth $53,000 after buying an additional 645 shares during the period. Finally, Coastal Investment Advisors Inc. increased its stake in Prologis by 1,772.2% in the 2nd quarter. Coastal Investment Advisors Inc. now owns 674 shares of the real estate investment trust’s stock worth $53,000 after buying an additional 638 shares during the period. 95.86% of the stock is currently owned by institutional investors and hedge funds.

The company has a market cap of $56.56 billion, a PE ratio of 29.97, a P/E/G ratio of 4.78 and a beta of 1.01. The company’s 50 day moving average is $85.72 and its 200 day moving average is $80.39. The company has a current ratio of 0.50, a quick ratio of 0.54 and a debt-to-equity ratio of 0.44.

Prologis (NYSE:PLD) last posted its quarterly earnings results on Tuesday, October 15th. The real estate investment trust reported $0.71 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.23. The company had revenue of $712.00 million for the quarter, compared to the consensus estimate of $715.40 million. Prologis had a net margin of 53.87% and a return on equity of 6.92%. The firm’s revenue was up 16.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.72 EPS. Analysts expect that Prologis Inc will post 3.31 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 20th were paid a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 2.33%. The ex-dividend date of this dividend was Thursday, September 19th. Prologis’s dividend payout ratio is presently 69.97%.

Prologis Company Profile (NYSE:PLD)

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.

See Also: Back-End Load

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