Prologis Inc. (PLD) Upgraded at Zacks Investment Research
Prologis Inc. (NYSE:PLD) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday. The brokerage currently has a $56.00 price objective on the stock. Zacks Investment Research’s price objective would indicate a potential upside of 12.65% from the company’s previous close.
According to Zacks, “Prologis has positive record of funds from operations (FFO) per share surprises in recent quarters. Amid a consistent shift toward e-commerce and supply chain strategy transformations, the company is well poised to benefit from its capacity to offer modern distribution facilities in strategic infill locations. In fact, the company’s occupancy and leasing volumes remained high in third-quarter 2016. It witnessed broad-based demand across customer segments, driven by e-commerce, automotive, consumer products and construction supplies. Also, Prologis remains focused on bolstering its liquidity, which is encouraging. Nevertheless, rising number of new facilities, competitive landscape and any further hike in interest rates are the company’s chief concerns.”
A number of other research firms also recently weighed in on PLD. Capital One Financial Corp. upgraded Prologis from an “underweight” rating to an “equal weight” rating and set a $53.00 target price on the stock in a report on Monday, October 17th. Morgan Stanley set a $58.00 price target on Prologis and gave the stock a “buy” rating in a research note on Tuesday, September 6th. BTIG Research restated a “positive” rating on shares of Prologis in a research note on Thursday, October 20th. Robert W. Baird downgraded Prologis from an “outperform” rating to a “neutral” rating and upped their price target for the stock from $52.00 to $54.00 in a research note on Wednesday, August 17th. Finally, Cantor Fitzgerald set a $55.00 price target on Prologis and gave the stock a “buy” rating in a research note on Thursday, October 20th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have assigned a buy rating to the company. Prologis currently has a consensus rating of “Hold” and a consensus target price of $51.31.
Prologis (NYSE:PLD) traded down 0.06% during mid-day trading on Thursday, reaching $49.71. The company’s stock had a trading volume of 2,444,520 shares. The firm has a market cap of $26.28 billion, a PE ratio of 29.70 and a beta of 1.15. Prologis has a 12-month low of $35.25 and a 12-month high of $54.87. The company has a 50-day moving average price of $50.21 and a 200-day moving average price of $50.90.
Prologis (NYSE:PLD) last posted its earnings results on Thursday, October 20th. The company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.03. Prologis had a return on equity of 4.86% and a net margin of 34.73%. The firm had revenue of $705 million for the quarter, compared to the consensus estimate of $221.07 million. During the same quarter in the prior year, the business earned $0.58 EPS. The business’s revenue for the quarter was up 21.3% on a year-over-year basis. On average, equities research analysts expect that Prologis will post ($0.27) earnings per share for the current year.
A number of institutional investors have recently made changes to their positions in the company. 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. 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. BlackRock Fund Advisors raised its stake in shares of Prologis by 4.2% in the third quarter. BlackRock Fund Advisors now owns 16,213,399 shares of the company’s stock worth $868,065,000 after buying an additional 653,321 shares during the last quarter. Finally, Daiwa Securities Group Inc. raised its stake in shares of Prologis by 4.1% in the third quarter. Daiwa Securities Group Inc. now owns 16,076,303 shares of the company’s stock worth $860,726,000 after buying an additional 638,992 shares during the last quarter. 98.90% of the stock is currently owned by institutional investors.
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About Prologis 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.
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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