Prologis (NYSE:PLD) Given a $96.00 Price Target by Royal Bank of Canada Analysts
Royal Bank of Canada set a $96.00 price objective on Prologis (NYSE:PLD) in a research report report published on Friday, TipRanks reports. The brokerage currently has a buy rating on the real estate investment trust’s stock.
A number of other research firms have also issued reports on PLD. KeyCorp boosted their price target on shares of Prologis from $79.00 to $86.00 and gave the company an overweight rating in a report on Wednesday, July 10th. SunTrust Banks upped their price target on shares of Prologis from $89.00 to $95.00 and gave the company a buy rating in a research report on Friday. Evercore ISI set a $80.00 price objective on shares of Prologis and gave the stock a hold rating in a research note on Monday, August 12th. Wells Fargo & Co lifted their price objective on shares of Prologis from $84.00 to $91.00 and gave the stock a market perform rating in a research report on Thursday, October 17th. Finally, Barclays set a $92.00 target price on shares of Prologis and gave the company a buy rating in a research note on Friday, October 11th. Five analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $86.65.
NYSE:PLD opened at $90.62 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.50 and a debt-to-equity ratio of 0.44. Prologis has a 1-year low of $55.21 and a 1-year high of $90.63. The firm has a market capitalization of $56.27 billion, a price-to-earnings ratio of 29.91, a price-to-earnings-growth ratio of 4.76 and a beta of 1.01. The stock has a fifty day simple moving average of $85.58 and a 200 day simple moving average of $80.30.
The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 20th were given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date of this dividend was Thursday, September 19th. Prologis’s dividend payout ratio (DPR) is 69.97%.
In related news, insider Eugene F. Reilly sold 12,500 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $81.72, for a total transaction of $1,021,500.00. Following the completion of the sale, the insider now directly owns 10,685 shares in the company, valued at $873,178.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.10% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the business. Cambridge Trust Co. increased its stake in shares of Prologis by 2.8% in the second quarter. Cambridge Trust Co. now owns 304,162 shares of the real estate investment trust’s stock worth $24,364,000 after acquiring an additional 8,279 shares during the last quarter. Oregon Public Employees Retirement Fund increased its position in Prologis by 0.6% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 65,477 shares of the real estate investment trust’s stock worth $5,245,000 after purchasing an additional 392 shares during the last quarter. Nuveen Asset Management LLC increased its position in Prologis by 320.0% in the 2nd quarter. Nuveen Asset Management LLC now owns 9,862,940 shares of the real estate investment trust’s stock worth $790,021,000 after purchasing an additional 7,514,715 shares during the last quarter. Liberty Wealth Management LLC raised its stake in shares of Prologis by 164.4% during the 2nd quarter. Liberty Wealth Management LLC now owns 965 shares of the real estate investment trust’s stock worth $77,000 after purchasing an additional 600 shares in the last quarter. Finally, ETF Managers Group LLC raised its stake in shares of Prologis by 14.5% during the 2nd quarter. ETF Managers Group LLC now owns 2,642 shares of the real estate investment trust’s stock worth $210,000 after purchasing an additional 335 shares in the last quarter. Hedge funds and other institutional investors own 95.86% of the company’s stock.
Prologis Company Profile
Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of December 31, 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 768 million square feet (71 million square meters) in 19 countries.
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