Prologis Inc (PLD) Receives $71.67 Consensus PT from Brokerages
Shares of Prologis Inc (NYSE:PLD) have earned a consensus rating of “Buy” from the seventeen analysts that are currently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $71.67.
Several research analysts have recently issued reports on PLD shares. Zacks Investment Research downgraded shares of Prologis from a “buy” rating to a “hold” rating in a report on Tuesday, September 18th. Scotiabank began coverage on shares of Prologis in a report on Tuesday, October 16th. They set a “sector perform” rating for the company. Deutsche Bank boosted their price objective on shares of Prologis from $66.00 to $68.00 and gave the stock a “hold” rating in a research note on Friday, August 24th. Robert W. Baird reissued a “buy” rating and issued a $73.00 price objective on shares of Prologis in a research note on Monday, July 23rd. Finally, Jefferies Financial Group reissued a “$62.97” rating and issued a $79.00 price objective on shares of Prologis in a research note on Wednesday, July 18th.
Shares of NYSE:PLD traded up $0.45 during trading on Monday, hitting $67.57. 2,671,443 shares of the company were exchanged, compared to its average volume of 3,074,196. The company has a market capitalization of $42.23 billion, a PE ratio of 23.13, a price-to-earnings-growth ratio of 4.42 and a beta of 0.71. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.32 and a current ratio of 0.32. Prologis has a 1-year low of $58.28 and a 1-year high of $68.20.
In related news, CEO Eugene F. Reilly sold 15,000 shares of the business’s stock in a transaction on Thursday, September 20th. The shares were sold at an average price of $67.20, for a total value of $1,008,000.00. Following the sale, the chief executive officer now owns 36,685 shares of the company’s stock, valued at $2,465,232. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Irving F. Lyons III sold 4,808 shares of the business’s stock in a transaction on Friday, September 28th. The stock was sold at an average price of $67.45, for a total transaction of $324,299.60. Following the completion of the sale, the director now directly owns 9,863 shares in the company, valued at approximately $665,259.35. The disclosure for this sale can be found here. In the last three months, insiders sold 37,907 shares of company stock worth $2,556,878. 1.31% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Advisors Preferred LLC boosted its position in Prologis by 141.1% during the second quarter. Advisors Preferred LLC now owns 1,685 shares of the real estate investment trust’s stock valued at $111,000 after acquiring an additional 986 shares during the last quarter. Palo Capital Inc. bought a new stake in Prologis during the third quarter valued at $150,000. Smithfield Trust Co. boosted its position in Prologis by 85.5% during the second quarter. Smithfield Trust Co. now owns 2,319 shares of the real estate investment trust’s stock valued at $152,000 after acquiring an additional 1,069 shares during the last quarter. Kistler Tiffany Companies LLC bought a new stake in Prologis during the third quarter valued at $160,000. Finally, Quadrant Capital Group LLC boosted its position in Prologis by 48.7% during the third quarter. Quadrant Capital Group LLC now owns 2,507 shares of the real estate investment trust’s stock valued at $158,000 after acquiring an additional 821 shares during the last quarter. 81.38% of the stock is currently owned by institutional investors and hedge funds.
Prologis Company Profile
Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of June 30, 2018, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 685 million square feet (64 million square meters) in 19 countries.
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