Traders Buy Shares of Prologis (PLD) on Weakness
Investors purchased shares of Prologis Inc (NYSE:PLD) on weakness during trading hours on Monday. $63.82 million flowed into the stock on the tick-up and $30.90 million flowed out of the stock on the tick-down, for a money net flow of $32.92 million into the stock. Of all companies tracked, Prologis had the 14th highest net in-flow for the day. Prologis traded down ($0.17) for the day and closed at $60.15
A number of research analysts have issued reports on the stock. Barclays upped their price target on shares of Prologis from $61.00 to $64.00 and gave the company an “overweight” rating in a research note on Tuesday, January 30th. Robert W. Baird upped their price target on shares of Prologis from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, January 24th. Jefferies Group restated a “neutral” rating on shares of Prologis in a research note on Wednesday, January 24th. Cantor Fitzgerald set a $69.00 price target on shares of Prologis and gave the company a “buy” rating in a research note on Tuesday, January 23rd. Finally, BMO Capital Markets set a $68.00 price target on shares of Prologis and gave the company a “buy” rating in a research note on Tuesday, January 23rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Prologis has an average rating of “Buy” and an average target price of $67.06.
The firm has a market cap of $32,011.83, a price-to-earnings ratio of 19.99, a P/E/G ratio of 3.82 and a beta of 0.83. The company has a current ratio of 0.35, a quick ratio of 0.80 and a debt-to-equity ratio of 0.50.
In other news, CEO Eugene F. Reilly sold 18,000 shares of the company’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $66.55, for a total value of $1,197,900.00. Following the sale, the chief executive officer now directly owns 63,365 shares of the company’s stock, valued at approximately $4,216,940.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Thomas S. Olinger sold 46,200 shares of the stock in a transaction on Monday, December 18th. The stock was sold at an average price of $66.33, for a total transaction of $3,064,446.00. Following the sale, the chief financial officer now directly owns 36,325 shares in the company, valued at $2,409,437.25. The disclosure for this sale can be found here. Insiders sold a total of 103,872 shares of company stock worth $6,843,648 over the last ninety days. Insiders own 1.31% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Parallel Advisors LLC boosted its holdings in Prologis by 66.3% during the fourth quarter. Parallel Advisors LLC now owns 2,509 shares of the real estate investment trust’s stock worth $162,000 after buying an additional 1,000 shares in the last quarter. Bronfman E.L. Rothschild L.P. boosted its holdings in Prologis by 75.5% during the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 2,678 shares of the real estate investment trust’s stock worth $173,000 after buying an additional 1,152 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new stake in Prologis during the fourth quarter worth $200,000. Segment Wealth Management LLC purchased a new stake in Prologis during the third quarter worth $213,000. Finally, BB&T Securities LLC purchased a new stake in Prologis during the third quarter worth $213,000. 95.17% of the stock is currently owned by hedge funds and other institutional investors.
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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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