Several other research analysts also recently weighed in on the company. Morgan Stanley set a $58.00 price target on Prologis and gave the company a buy rating in a report on Tuesday, September 6th. Wells Fargo & Co. restated a neutral rating on shares of Prologis in a report on Sunday, September 4th. BTIG Research began coverage on Prologis in a report on Thursday, August 25th. They set a buy rating and a $60.00 price objective for the company. Robert W. Baird downgraded Prologis from an outperform rating to a neutral rating and upped their price objective for the stock from $52.00 to $54.00 in a report on Wednesday, August 17th. Finally, RBC Capital Markets restated an outperform rating and set a $55.00 price objective (up from $48.00) on shares of Prologis in a report on Tuesday, July 26th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $50.26.
Prologis (NYSE:PLD) traded up 2.17% during mid-day trading on Monday, reaching $52.31. The company’s stock had a trading volume of 575,783 shares. Prologis has a 1-year low of $35.25 and a 1-year high of $54.87. The stock has a market capitalization of $27.56 billion, a P/E ratio of 31.94 and a beta of 1.30. The stock’s 50 day moving average price is $52.37 and its 200 day moving average price is $49.94.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Monday, September 19th were paid a dividend of $0.42 per share. The ex-dividend date of this dividend was Thursday, September 15th. This represents a $1.68 annualized dividend and a yield of 3.28%. Prologis’s dividend payout ratio (DPR) is 103.07%.
In related news, CEO Gary E. Anderson sold 33,043 shares of the 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Hamid R. Moghadam sold 446,991 shares of the 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 sale, the chief executive officer now owns 446,991 shares in the company, valued at approximately $24,293,960.85. The disclosure for this sale can be found here. Corporate insiders own 1.29% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the company. Evercore Wealth Management LLC raised its stake in Prologis by 7.6% in the second quarter. Evercore Wealth Management LLC now owns 2,065 shares of the company’s stock valued at $101,000 after buying an additional 145 shares during the period. Global X Management Co. LLC raised its stake in Prologis by 63.4% in the second quarter. Global X Management Co. LLC now owns 2,852 shares of the company’s stock valued at $140,000 after buying an additional 1,107 shares during the period. Creative Planning raised its stake in Prologis by 12.7% in the second quarter. Creative Planning now owns 2,889 shares of the company’s stock valued at $142,000 after buying an additional 325 shares during the period. Tower Research Capital LLC TRC acquired a new stake in Prologis during the second quarter valued at $149,000. Finally, Meeder Asset Management Inc. raised its stake in Prologis by 1,589.2% in the first quarter. Meeder Asset Management Inc. now owns 3,767 shares of the company’s stock valued at $167,000 after buying an additional 3,544 shares during the period. Hedge funds and other institutional investors 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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