Traders Buy Shares of Prologis (PLD) on Weakness

Traders purchased shares of Prologis Inc (NYSE:PLD) on weakness during trading on Tuesday. $83.89 million flowed into the stock on the tick-up and $28.79 million flowed out of the stock on the tick-down, for a money net flow of $55.10 million into the stock. Of all stocks tracked, Prologis had the 30th highest net in-flow for the day. Prologis traded down ($0.75) for the day and closed at $61.23

A number of brokerages have issued reports on PLD. Barclays reissued an “overweight” rating and issued a $72.00 price target on shares of Prologis in a report on Friday, February 16th. Robert W. Baird boosted their price target on Prologis from $68.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, January 24th. Wells Fargo & Co set a $65.00 target price on Prologis and gave the stock a “hold” rating in a research note on Thursday, October 26th. Cantor Fitzgerald set a $69.00 target price on Prologis and gave the stock a “buy” rating in a research note on Tuesday, January 23rd. Finally, Jefferies Group reaffirmed a “neutral” rating on shares of Prologis in a research note on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $67.56.

The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.51. The company has a market cap of $32,638.90, a P/E ratio of 21.79, a price-to-earnings-growth ratio of 4.61 and a beta of 0.83.

Prologis (NYSE:PLD) last issued its quarterly earnings results on Tuesday, January 23rd. The real estate investment trust reported $0.67 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.01. Prologis had a return on equity of 9.12% and a net margin of 63.11%. The firm had revenue of $550.65 million during the quarter, compared to analysts’ expectations of $533.54 million. During the same period in the previous year, the business earned $0.63 earnings per share. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. research analysts anticipate that Prologis Inc will post 2.9 EPS for the current fiscal year.

In related news, insider Edward S. Nekritz sold 15,752 shares of the business’s stock in a transaction that occurred on Thursday, December 28th. The stock was sold at an average price of $64.51, for a total transaction of $1,016,161.52. Following the completion of the sale, the insider now directly owns 146,414 shares in the company, valued at $9,445,167.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Eugene F. Reilly sold 18,000 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The stock was 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 owns 63,365 shares of the company’s stock, valued at $4,216,940.75. The disclosure for this sale can be found here. Insiders have sold 103,872 shares of company stock valued at $6,843,648 over the last quarter. 1.31% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of PLD. Raymond James Financial Services Advisors Inc. grew its holdings in Prologis by 7.2% in the 2nd 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 buying an additional 626 shares in the last quarter. Bank of Nova Scotia grew its holdings in Prologis by 5.2% in the 2nd quarter. Bank of Nova Scotia now owns 12,854 shares of the real estate investment trust’s stock valued at $754,000 after buying an additional 630 shares in the last quarter. Advisor Group Inc. grew its holdings in Prologis by 8.6% in the 3rd quarter. Advisor Group Inc. now owns 10,258 shares of the real estate investment trust’s stock valued at $652,000 after buying an additional 815 shares in the last quarter. Advisor Partners LLC grew its holdings in Prologis by 10.9% in the 3rd quarter. Advisor Partners LLC now owns 8,325 shares of the real estate investment trust’s stock valued at $528,000 after buying an additional 819 shares in the last quarter. Finally, Global X MANAGEMENT CO LLC grew its holdings in Prologis by 11.9% in the 3rd quarter. Global X MANAGEMENT CO LLC now owns 7,922 shares of the real estate investment trust’s stock valued at $503,000 after buying an additional 843 shares in the last quarter. Hedge funds and other institutional investors own 93.45% 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.

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