Shares of Prologis Inc. (NYSE:PLD) have received a consensus recommendation of “Hold” from the twenty-four research firms that are currently covering the firm. Two investment analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation and ten have given a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $50.27.
A number of equities research analysts have recently commented on the company. Morgan Stanley set a $58.00 target price on Prologis and gave the company a “buy” rating in a research report on Tuesday, September 6th. Capital One Financial Corp. cut Prologis from an “equal weight” rating to an “underweight” rating and set a $48.00 target price on the stock. in a research report on Monday, August 8th. Wells Fargo & Co. restated a “neutral” rating on shares of Prologis in a research report on Sunday, September 4th. Robert W. Baird cut Prologis from an “outperform” rating to a “neutral” rating and raised their target price for the company from $52.00 to $54.00 in a research report on Wednesday, August 17th. Finally, RBC Capital Markets restated an “outperform” rating and set a $55.00 target price (up from $48.00) on shares of Prologis in a research report on Tuesday, July 26th.
Shares of Prologis (NYSE:PLD) traded down 0.44% during midday trading on Tuesday, reaching $54.10. The company’s stock had a trading volume of 959,110 shares. The stock’s 50 day moving average price is $53.30 and its 200 day moving average price is $49.05. The firm has a market cap of $28.51 billion, a price-to-earnings ratio of 33.03 and a beta of 1.32. Prologis has a one year low of $35.25 and a one year high of $54.87.
Prologis (NYSE:PLD) last released its quarterly earnings data on Tuesday, July 19th. The company reported $0.60 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.01. The business earned $602 million during the quarter, compared to analyst estimates of $221.07 million. Prologis had a return on equity of 4.76% and a net margin of 35.66%. During the same quarter last year, the business posted $0.14 EPS. Analysts predict that Prologis will post ($0.27) earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Monday, September 19th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date is Thursday, September 15th. Prologis’s payout ratio is 103.07%.
In other Prologis news, CEO Hamid R. Moghadam sold 37,673 shares of the business’s stock in a transaction that occurred on Thursday, July 14th. The stock was sold at an average price of $51.01, for a total value of $1,921,699.73. Following the sale, the chief executive officer now owns 37,673 shares of the company’s stock, valued at $1,921,699.73. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Gary E. Anderson sold 33,043 shares of the business’s stock in a transaction that occurred on Friday, August 12th. The shares were sold at an average price of $54.28, for a total value of $1,793,574.04. The disclosure for this sale can be found here. 1.29% of the stock is owned by company insiders.
A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Prologis by 2.3% in the second quarter. Vanguard Group Inc. now owns 73,654,987 shares of the company’s stock worth $3,612,041,000 after buying an additional 1,623,990 shares during the last quarter. Cohen & Steers Inc. raised its stake in shares of Prologis by 194.7% in the second quarter. Cohen & Steers Inc. now owns 31,179,168 shares of the company’s stock worth $1,529,026,000 after buying an additional 20,598,621 shares during the last quarter. State Street Corp raised its stake in shares of Prologis by 1.0% in the first quarter. State Street Corp now owns 29,936,310 shares of the company’s stock worth $1,322,589,000 after buying an additional 287,136 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in shares of Prologis by 9.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 22,114,590 shares of the company’s stock worth $977,023,000 after buying an additional 1,855,694 shares during the last quarter. Finally, FMR LLC raised its stake in shares of Prologis by 22.4% in the second quarter. FMR LLC now owns 18,463,142 shares of the company’s stock worth $905,433,000 after buying an additional 3,379,560 shares during the last quarter. 99.84% of the stock is currently owned by institutional investors.
Prologis, Inc is engaged in logistics real estate business, focused on markets across the Americas, Europe and Asia. The Company owns or has investments in, on a basis or through co-investment ventures, properties and development projects in over 20 countries. Its segments include Real Estate Operations and Strategic Capital.
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