Prologis, Inc. (PLD) Raised to Buy at BidaskClub
Prologis, Inc. (NYSE:PLD) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Tuesday.
Several other equities research analysts have also recently weighed in on PLD. Zacks Investment Research cut Prologis from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. KeyCorp increased their price target on Prologis from $62.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, July 25th. Barclays PLC reissued an “overweight” rating and issued a $61.00 price target (up previously from $59.00) on shares of Prologis in a research note on Monday, July 24th. Royal Bank Of Canada reissued a “buy” rating and issued a $59.00 price target on shares of Prologis in a research note on Thursday, June 8th. Finally, BTIG Research reissued a “buy” rating and issued a $57.00 price target on shares of Prologis in a research note on Tuesday, April 11th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $59.60.
Prologis (PLD) traded down 0.33% during trading on Tuesday, hitting $61.00. The stock had a trading volume of 1,141,753 shares. The company has a 50-day moving average of $58.87 and a 200 day moving average of $54.22. The company has a market cap of $32.44 billion, a price-to-earnings ratio of 27.38 and a beta of 0.94. Prologis has a 52 week low of $45.93 and a 52 week high of $61.81.
Prologis (NYSE:PLD) last issued its quarterly earnings results on Tuesday, July 18th. The real estate investment trust reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.06. The company had revenue of $766.18 million during the quarter, compared to analysts’ expectations of $576 million. Prologis had a return on equity of 6.65% and a net margin of 43.99%. The business’s quarterly revenue was up 27.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.60 earnings per share. On average, equities research analysts anticipate that Prologis will post ($0.27) EPS for the current year.
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In other Prologis news, CEO Hamid R. Moghadam sold 271,788 shares of the stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $56.04, for a total value of $15,230,999.52. Following the transaction, the chief executive officer now owns 36,997 shares in the company, valued at $2,073,311.88. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Edward S. Nekritz sold 25,000 shares of the stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $55.31, for a total value of $1,382,750.00. Following the completion of the transaction, the insider now owns 199,950 shares in the company, valued at approximately $11,059,234.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 483,807 shares of company stock worth $27,400,851. Corporate insiders own 1.31% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in PLD. Legal & General Group Plc raised its position in shares of Prologis by 3.4% in the second quarter. Legal & General Group Plc now owns 3,947,432 shares of the real estate investment trust’s stock valued at $231,478,000 after buying an additional 129,609 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Prologis by 6.4% in the second quarter. Bank of New York Mellon Corp now owns 10,961,903 shares of the real estate investment trust’s stock valued at $642,806,000 after buying an additional 661,314 shares during the last quarter. Green Street Investors LLC purchased a new position in shares of Prologis during the second quarter valued at about $10,104,000. SG Americas Securities LLC raised its position in shares of Prologis by 1.5% in the second quarter. SG Americas Securities LLC now owns 87,295 shares of the real estate investment trust’s stock valued at $5,119,000 after buying an additional 1,325 shares during the last quarter. Finally, Northpointe Capital LLC raised its position in shares of Prologis by 4.6% in the second quarter. Northpointe Capital LLC now owns 93,372 shares of the real estate investment trust’s stock valued at $5,475,000 after buying an additional 4,095 shares during the last quarter. Institutional investors and hedge funds own 95.96% of the company’s stock.
Prologis Company Profile
Prologis, Inc is a real estate investment trust (REIT) company. The Company is engaged in logistics real estate business. The Company’s segments include Real Estate Operations and Strategic Capital. The Real estate operations segment consists of rental operations and development. The Company’s strategic capital segment includes asset management services, as well as services performed for unconsolidated co-investment ventures.
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