Brokerages Set Prologis Inc. (NYSE:PLD) Target Price at $50.27
Shares of Prologis Inc. (NYSE:PLD) have been given an average recommendation of “Hold” by the twenty-four analysts that are covering the company. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have issued a buy rating on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $50.27.
PLD has been the subject of several recent analyst reports. Barclays PLC boosted their price objective on Prologis from $58.00 to $59.00 and gave the stock an “overweight” rating in a report on Tuesday, July 26th. Bank of America Corp. lowered Prologis from a “buy” rating to a “neutral” rating in a research note on Friday, June 24th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Prologis in a research note on Wednesday, July 20th. Morgan Stanley set a $58.00 target price on Prologis and gave the stock a “buy” rating in a research note on Tuesday, September 6th. Finally, Deutsche Bank AG lowered Prologis from a “buy” rating to a “hold” rating and upped their target price for the stock from $48.00 to $50.00 in a research note on Tuesday, June 21st.
In other news, CEO Hamid R. Moghadam sold 446,991 shares of the stock in a transaction on Friday, July 29th. The stock was sold at an average price of $54.35, for a total value of $24,293,960.85. Following the sale, the chief executive officer now directly owns 446,991 shares of the company’s stock, valued at $24,293,960.85. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Gary E. Anderson sold 33,043 shares of the stock in a transaction on Friday, August 12th. The stock was 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 insiders.
Large investors have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. boosted its stake in Prologis by 0.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 21,333 shares of the company’s stock worth $1,047,000 after buying an additional 56 shares in the last quarter. BKD Wealth Advisors LLC boosted its stake in Prologis by 1.1% in the second quarter. BKD Wealth Advisors LLC now owns 6,354 shares of the company’s stock worth $312,000 after buying an additional 68 shares in the last quarter. Johnson Investment Counsel Inc. boosted its stake in Prologis by 1.5% in the second quarter. Johnson Investment Counsel Inc. now owns 7,809 shares of the company’s stock worth $382,000 after buying an additional 113 shares in the last quarter. Mn Services Vermogensbeheer B.V. boosted its stake in Prologis by 0.9% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 13,257 shares of the company’s stock worth $585,000 after buying an additional 115 shares in the last quarter. Finally, Evercore Wealth Management LLC boosted 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 worth $101,000 after buying an additional 145 shares in the last quarter. 99.84% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Prologis (NYSE:PLD) opened at 53.79 on Tuesday. The stock has a 50 day moving average of $53.29 and a 200 day moving average of $49.20. Prologis has a 1-year low of $35.25 and a 1-year high of $54.87. The company has a market cap of $28.34 billion, a price-to-earnings ratio of 32.84 and a beta of 1.32.
Prologis (NYSE:PLD) last issued its quarterly earnings data on Tuesday, July 19th. The company reported $0.60 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.01. Prologis had a return on equity of 4.76% and a net margin of 35.66%. The company earned $602 million during the quarter, compared to analyst estimates of $221.07 million. During the same quarter in the previous year, the firm earned $0.14 earnings per share. Analysts predict that Prologis will post ($0.27) EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Monday, September 19th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Thursday, September 15th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.12%. Prologis’s dividend payout ratio is currently 103.07%.
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.
Receive News & Stock Ratings for Prologis Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prologis Inc. and related stocks with our FREE daily email newsletter.