Prologis Inc. (PLD) Stock Rating Upgraded by Robert W. Baird
Prologis Inc. (NYSE:PLD) was upgraded by Robert W. Baird from a “neutral” rating to an “outperform” rating in a report released on Monday. The brokerage presently has a $55.00 price objective on the stock. Robert W. Baird’s price objective suggests a potential upside of 6.92% from the company’s previous close.
A number of other research analysts have also recently issued reports on PLD. Capital One Financial Corp. cut shares of Prologis from an “equal weight” rating to an “underweight” rating and set a $48.00 price objective on the stock. in a research note on Monday, August 8th. BTIG Research started coverage on shares of Prologis in a research note on Thursday, August 25th. They issued a “buy” rating and a $60.00 price objective on the stock. Wells Fargo & Co. reissued a “neutral” rating on shares of Prologis in a research note on Sunday, September 4th. Morgan Stanley set a $58.00 price objective on shares of Prologis and gave the company a “buy” rating in a research note on Tuesday, September 6th. Finally, Evercore ISI raised shares of Prologis from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a research note on Tuesday, October 18th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating to the company. Prologis presently has an average rating of “Hold” and a consensus target price of $51.36.
Shares of Prologis (NYSE:PLD) opened at 51.44 on Monday. The firm’s 50 day moving average is $50.21 and its 200 day moving average is $50.99. The company has a market cap of $27.19 billion, a PE ratio of 30.73 and a beta of 1.15. Prologis has a 12 month low of $35.25 and a 12 month high of $54.87.
Prologis (NYSE:PLD) last announced its earnings results on Thursday, October 20th. The company reported $0.73 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.03. Prologis had a net margin of 34.73% and a return on equity of 4.86%. The company had revenue of $705 million for the quarter, compared to analysts’ expectations of $221.07 million. During the same period last year, the firm earned $0.58 earnings per share. The business’s revenue for the quarter was up 21.3% on a year-over-year basis. On average, equities analysts predict that Prologis will post ($0.27) earnings per share for the current year.
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A number of institutional investors have recently made changes to their positions in PLD. LPL Financial LLC increased its position in shares of Prologis by 9.4% in the first quarter. LPL Financial LLC now owns 32,061 shares of the company’s stock worth $1,415,000 after buying an additional 2,751 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. increased its position in shares of Prologis by 359.6% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 29,517 shares of the company’s stock worth $1,305,000 after buying an additional 23,095 shares in the last quarter. British Columbia Investment Management Corp increased its position in shares of Prologis by 1.4% in the second quarter. British Columbia Investment Management Corp now owns 334,389 shares of the company’s stock worth $16,398,000 after buying an additional 4,505 shares in the last quarter. DNB Asset Management AS increased its position in shares of Prologis by 1.5% in the second quarter. DNB Asset Management AS now owns 53,598 shares of the company’s stock worth $2,029,000 after buying an additional 800 shares in the last quarter. Finally, Exxonmobil Investment Management Inc. TX increased its position in shares of Prologis by 6.4% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 135,991 shares of the company’s stock worth $6,669,000 after buying an additional 8,221 shares in the last quarter. 99.13% of the stock is owned by institutional investors and hedge funds.
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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