Prologis Inc. (PLD) Shares Up 1.3%
Prologis Inc. (NYSE:PLD) shot up 1.3% during trading on Tuesday . The company traded as high as $49.39 and last traded at $49.37, with a volume of 1,344,469 shares. The stock had previously closed at $48.74.
A number of research firms have recently commented on PLD. Bank of America Corp. cut Prologis from a “buy” rating to a “neutral” rating in a research note on Friday, June 24th. Credit Suisse Group AG cut Prologis to a “hold” rating in a research note on Tuesday, June 21st. Deutsche Bank AG cut Prologis from a “buy” rating to a “hold” rating and increased their target price for the stock from $48.00 to $50.00 in a research note on Tuesday, June 21st. SunTrust Banks Inc. downgraded Prologis from a “buy” rating to a “neutral” rating and upped their price target for the company from $35.25 to $49.11 in a report on Thursday, June 30th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $50.00 price target (up from $48.00) on shares of Prologis in a report on Wednesday, June 1st. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and ten have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $47.06.
The firm has a market capitalization of $25.94 billion and a PE ratio of 35.70. The stock has a 50 day moving average of $48.60 and a 200-day moving average of $43.72.
Prologis (NYSE:PLD) last issued its quarterly earnings results on Tuesday, April 19th. The company reported $0.61 EPS for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.02. The firm had revenue of $606.30 million for the quarter, compared to analyst estimates of $221.07 million. The business’s revenue was up 31.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.49 EPS. On average, equities analysts forecast that Prologis Inc. will post ($0.27) EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 30th. Stockholders of record on Monday, June 13th were issued a $0.42 dividend. The ex-dividend date was Thursday, June 9th. This represents a $1.68 annualized dividend and a dividend yield of 3.40%.
In other news, CAO Lori A. Palazzolo sold 4,400 shares of the business’s stock in a transaction dated Tuesday, May 3rd. The stock was sold at an average price of $45.76, for a total value of $201,344.00. Following the completion of the transaction, the chief accounting officer now owns 9,855 shares of the company’s stock, valued at approximately $450,964.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Edward S. Nekritz sold 5,675 shares of the business’s stock in a transaction dated Friday, June 17th. The shares were sold at an average price of $50.20, for a total value of $284,885.00. Following the completion of the transaction, the insider now directly owns 217,534 shares of the company’s stock, valued at approximately $10,920,206.80. The disclosure for this sale can be found here.
Several institutional investors recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Prologis by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 69,929,901 shares of the company’s stock valued at $3,001,392,000 after buying an additional 1,910,209 shares during the period. Morgan Stanley boosted its position in shares of Prologis by 3.0% in the fourth quarter. Morgan Stanley now owns 10,994,924 shares of the company’s stock valued at $471,903,000 after buying an additional 324,268 shares during the period. Principal Financial Group Inc. boosted its position in shares of Prologis by 3.2% in the fourth quarter. Principal Financial Group Inc. now owns 9,151,224 shares of the company’s stock valued at $392,770,000 after buying an additional 282,045 shares during the period. Bank of Montreal Can boosted its position in shares of Prologis by 67.7% in the fourth quarter. Bank of Montreal Can now owns 434,933 shares of the company’s stock valued at $18,667,000 after buying an additional 175,640 shares during the period. Finally, Shell Asset Management Co. boosted its position in shares of Prologis by 110.9% in the fourth quarter. Shell Asset Management Co. now owns 308,574 shares of the company’s stock valued at $13,244,000 after buying an additional 162,245 shares during the period.
Prologis, Inc is engaged in logistics real estate business, focused on markets across the Americas, Europe and Asia. The Company owns or has investments in, on a basis or through co-investment ventures, properties and development projects in over 20 countries. Its segments include Real Estate Operations and Strategic Capital.
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