Prologis (PLD) Receives “Overweight” Rating from Barclays

Barclays reaffirmed their overweight rating on shares of Prologis (NYSE:PLD) in a research report report published on Friday morning. They currently have a $72.00 target price on the real estate investment trust’s stock.

Other research analysts have also issued reports about the company. Robert W. Baird upped their price target on Prologis from $68.00 to $70.00 and gave the stock a buy rating in a report on Wednesday, January 24th. Cantor Fitzgerald set a $69.00 price target on Prologis and gave the stock a buy rating in a report on Tuesday, January 23rd. BMO Capital Markets set a $68.00 price target on Prologis and gave the stock a buy rating in a report on Tuesday, January 23rd. KeyCorp restated a buy rating and set a $72.00 price objective on shares of Prologis in a research report on Thursday, December 21st. Finally, Bank of America set a $72.00 price objective on Prologis and gave the company a buy rating in a research report on Wednesday, October 25th. One analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of Buy and an average price target of $67.56.

Prologis (PLD) traded up $0.57 on Friday, reaching $61.98. The company had a trading volume of 2,867,759 shares, compared to its average volume of 3,159,251. Prologis has a 12-month low of $48.80 and a 12-month high of $67.53. The company has a current ratio of 0.35, a quick ratio of 0.80 and a debt-to-equity ratio of 0.50. The firm has a market cap of $32,734.85, a price-to-earnings ratio of 20.25, a P/E/G ratio of 4.62 and a beta of 0.83.

Prologis (NYSE:PLD) last posted its earnings results on Tuesday, January 23rd. The real estate investment trust reported $0.67 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.01. Prologis had a return on equity of 9.11% and a net margin of 63.11%. The firm had revenue of $550.65 million during the quarter, compared to analyst estimates of $533.54 million. During the same period in the previous year, the company earned $0.63 EPS. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. research analysts expect that Prologis will post 2.9 EPS for the current year.

In other news, CEO Eugene F. Reilly sold 18,000 shares of the stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $66.55, for a total transaction of $1,197,900.00. Following the sale, the chief executive officer now owns 63,365 shares in the company, valued at $4,216,940.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Eugene F. Reilly sold 15,000 shares of the stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $66.61, for a total value of $999,150.00. Following the sale, the chief executive officer now owns 63,365 shares in the company, valued at approximately $4,220,742.65. The disclosure for this sale can be found here. Insiders have sold 103,872 shares of company stock worth $6,843,648 in the last 90 days. Company insiders own 1.31% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Prologis by 7.2% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 9,289 shares of the real estate investment trust’s stock valued at $545,000 after acquiring an additional 626 shares during the period. Bank of Nova Scotia lifted its stake in shares of Prologis by 5.2% during the second quarter. Bank of Nova Scotia now owns 12,854 shares of the real estate investment trust’s stock valued at $754,000 after acquiring an additional 630 shares during the period. Advisor Group Inc. lifted its stake in shares of Prologis by 8.6% during the third quarter. Advisor Group Inc. now owns 10,258 shares of the real estate investment trust’s stock valued at $652,000 after acquiring an additional 815 shares during the period. Advisor Partners LLC lifted its stake in shares of Prologis by 10.9% during the third quarter. Advisor Partners LLC now owns 8,325 shares of the real estate investment trust’s stock valued at $528,000 after acquiring an additional 819 shares during the period. Finally, Global X MANAGEMENT CO LLC lifted its stake in shares of Prologis by 11.9% during the third quarter. Global X MANAGEMENT CO LLC now owns 7,922 shares of the real estate investment trust’s stock valued at $503,000 after acquiring an additional 843 shares during the period. Institutional investors own 95.17% of the company’s stock.

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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.

Analyst Recommendations for Prologis (NYSE:PLD)

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