Prologis Inc. (NYSE:PLD) was upgraded by stock analysts at Evercore ISI from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday, The Fly reports.
Other equities research analysts also recently issued research reports about the stock. Capital One Financial Corp. raised shares of Prologis from an “underweight” rating to an “equal weight” rating in a research report on Monday. Deutsche Bank AG downgraded shares of Prologis from a “buy” rating to a “hold” rating and boosted their price objective for the company from $48.00 to $50.00 in a research report on Tuesday, June 21st. RBC Capital Markets reissued an “outperform” rating and set a $55.00 price objective (up previously from $48.00) on shares of Prologis in a research report on Tuesday, July 26th. Barclays PLC boosted their price objective on shares of Prologis from $58.00 to $59.00 and gave the company an “overweight” rating in a research report on Tuesday, July 26th. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and issued a $55.00 target price on shares of Prologis in a report on Wednesday, July 20th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eleven have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $50.26.
Shares of Prologis (NYSE:PLD) opened at 51.20 on Tuesday. The stock has a market cap of $26.98 billion, a P/E ratio of 31.26 and a beta of 1.30. The firm’s 50-day moving average price is $52.37 and its 200-day moving average price is $49.94. Prologis has a 52-week low of $35.25 and a 52-week high of $54.87.
The company also recently declared a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Monday, September 19th were issued a dividend of $0.42 per share. The ex-dividend date was Thursday, September 15th. This represents a $1.68 annualized dividend and a yield of 3.28%. Prologis’s payout ratio is 103.07%.
In related news, CEO Gary E. Anderson sold 33,043 shares of the company’s stock in a transaction dated Friday, August 12th. The shares were sold at an average price of $54.28, for a total transaction of $1,793,574.04. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Hamid R. Moghadam sold 446,991 shares of the company’s stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $54.35, for a total transaction of $24,293,960.85. Following the completion of the transaction, the chief executive officer now owns 446,991 shares in the company, valued at $24,293,960.85. The disclosure for this sale can be found here. Corporate insiders own 1.29% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Evercore Wealth Management LLC increased its position in shares of Prologis by 7.6% in the second quarter. Evercore Wealth Management LLC now owns 2,065 shares of the company’s stock worth $101,000 after buying an additional 145 shares in the last quarter. Global X Management Co. LLC increased its position in shares of Prologis by 63.4% in the second quarter. Global X Management Co. LLC now owns 2,852 shares of the company’s stock worth $140,000 after buying an additional 1,107 shares in the last quarter. Creative Planning increased its position in shares of Prologis by 12.7% in the second quarter. Creative Planning now owns 2,889 shares of the company’s stock worth $142,000 after buying an additional 325 shares in the last quarter. Tower Research Capital LLC TRC bought a new position in shares of Prologis during the second quarter worth approximately $149,000. Finally, Meeder Asset Management Inc. increased its position in shares of Prologis by 1,589.2% in the first quarter. Meeder Asset Management Inc. now owns 3,767 shares of the company’s stock worth $167,000 after buying an additional 3,544 shares in the last quarter. Institutional investors and hedge funds own 99.83% of the company’s stock.
Prologis Company Profile
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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