Prologis (NYSE:PLD)‘s stock had its “buy” rating reiterated by equities researchers at BMO Capital Markets in a research note issued on Tuesday. They presently have a $68.00 price objective on the real estate investment trust’s stock. BMO Capital Markets’ price target would suggest a potential upside of 3.93% from the company’s current price.
Other equities research analysts have also issued research reports about the company. Jefferies Group raised Prologis from a “hold” rating to a “buy” rating in a research note on Thursday, April 12th. Citigroup raised Prologis from a “neutral” rating to a “buy” rating and set a $72.00 price target for the company in a research note on Friday, April 6th. ValuEngine raised Prologis from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Robert W. Baird lifted their price target on Prologis from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, January 24th. Finally, Cantor Fitzgerald set a $69.00 price target on Prologis and gave the stock a “buy” rating in a research note on Tuesday, January 23rd. One analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Prologis currently has an average rating of “Buy” and a consensus target price of $67.94.
NYSE:PLD traded up $0.13 during trading hours on Tuesday, hitting $65.43. 281,083 shares of the company’s stock traded hands, compared to its average volume of 2,552,725. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.68 and a current ratio of 0.68. Prologis has a 52 week low of $53.15 and a 52 week high of $67.53. The firm has a market capitalization of $33,369.18, a price-to-earnings ratio of 23.28, a P/E/G ratio of 4.70 and a beta of 0.83.
In other news, Director William D. Zollars sold 4,020 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $60.48, for a total value of $243,129.60. Following the completion of the sale, the director now owns 20,225 shares of the company’s stock, valued at approximately $1,223,208. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Michael S. Curless sold 14,465 shares of the business’s stock in a transaction dated Wednesday, March 28th. The shares were sold at an average price of $62.49, for a total value of $903,917.85. Following the completion of the sale, the insider now directly owns 102 shares of the company’s stock, valued at approximately $6,373.98. The disclosure for this sale can be found here. Insiders own 1.32% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Virtue Capital Management LLC purchased a new position in Prologis during the 4th quarter valued at about $143,000. Parallel Advisors LLC increased its holdings in Prologis by 66.3% during the 4th quarter. Parallel Advisors LLC now owns 2,509 shares of the real estate investment trust’s stock valued at $162,000 after purchasing an additional 1,000 shares during the period. Bronfman E.L. Rothschild L.P. increased its holdings in Prologis by 75.5% during the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 2,678 shares of the real estate investment trust’s stock valued at $173,000 after purchasing an additional 1,152 shares during the period. Premia Global Advisors LLC purchased a new position in Prologis during the 4th quarter valued at about $192,000. Finally, Catalyst Capital Advisors LLC purchased a new position in Prologis during the 4th quarter valued at about $200,000. Institutional investors own 95.39% of the company’s stock.
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Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of December 31, 2017, 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 684 million square feet (64 million square meters) in 19 countries.
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