Prologis Inc (NYSE:PLD) has earned a consensus recommendation of “Buy” from the fifteen research firms that are covering the company, MarketBeat reports. Four analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $71.60.
Several brokerages have recently issued reports on PLD. Barclays reaffirmed a “buy” rating on shares of Prologis in a research report on Thursday, February 21st. Robert W. Baird lowered Prologis from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $73.00 to $71.00 in a research report on Friday, March 1st. Wells Fargo & Co set a $65.00 target price on Prologis and gave the company a “market perform” rating in a research report on Wednesday, January 16th. They noted that the move was a valuation call. ValuEngine raised Prologis from a “hold” rating to a “buy” rating in a research report on Tuesday, January 15th. Finally, Deutsche Bank raised Prologis from a “hold” rating to a “buy” rating and raised their target price for the company from $68.00 to $72.00 in a research report on Tuesday, December 18th.
Shares of Prologis stock traded down $0.14 during trading hours on Friday, hitting $71.64. 3,686,380 shares of the company’s stock traded hands, compared to its average volume of 2,694,829. Prologis has a 12-month low of $55.21 and a 12-month high of $72.82. The firm has a market cap of $45.25 billion, a PE ratio of 23.64, a P/E/G ratio of 4.37 and a beta of 1.02. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.45 and a quick ratio of 0.45.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 15th will be issued a $0.53 dividend. The ex-dividend date is Thursday, March 14th. This represents a $2.12 annualized dividend and a yield of 2.96%. This is a positive change from Prologis’s previous quarterly dividend of $0.48. Prologis’s dividend payout ratio (DPR) is 63.37%.
In related news, Director William D. Zollars sold 1,610 shares of Prologis stock in a transaction dated Wednesday, December 19th. The stock was sold at an average price of $61.53, for a total value of $99,063.30. Following the completion of the sale, the director now owns 9,880 shares of the company’s stock, valued at approximately $607,916.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Eugene F. Reilly sold 19,000 shares of Prologis stock in a transaction dated Monday, February 11th. The stock was sold at an average price of $71.07, for a total value of $1,350,330.00. Following the completion of the sale, the chief executive officer now directly owns 17,685 shares of the company’s stock, valued at approximately $1,256,872.95. The disclosure for this sale can be found here. In the last three months, insiders sold 112,677 shares of company stock valued at $7,840,992. 1.32% of the stock is currently owned by insiders.
A number of hedge funds have recently bought and sold shares of PLD. First Trust Advisors LP grew its holdings in Prologis by 40.7% during the 3rd quarter. First Trust Advisors LP now owns 242,390 shares of the real estate investment trust’s stock valued at $16,432,000 after buying an additional 70,176 shares in the last quarter. US Bancorp DE grew its holdings in Prologis by 9.4% during the 3rd quarter. US Bancorp DE now owns 131,853 shares of the real estate investment trust’s stock valued at $8,939,000 after buying an additional 11,298 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Prologis by 15.9% during the 3rd quarter. Victory Capital Management Inc. now owns 12,844 shares of the real estate investment trust’s stock valued at $870,000 after buying an additional 1,758 shares in the last quarter. Private Advisor Group LLC grew its holdings in Prologis by 19.9% during the 3rd quarter. Private Advisor Group LLC now owns 6,949 shares of the real estate investment trust’s stock valued at $471,000 after buying an additional 1,151 shares in the last quarter. Finally, Stratos Wealth Partners LTD. purchased a new position in Prologis during the 3rd quarter valued at about $693,000. 94.82% of the stock is 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 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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