Traders Sell Shares of Prologis Inc. (PLD) on Strength (PLD)
Investors sold shares of Prologis Inc. (NYSE:PLD) on strength during trading on Friday. $20.51 million flowed into the stock on the tick-up and $40.65 million flowed out of the stock on the tick-down, for a money net flow of $20.14 million out of the stock. Of all companies tracked, Prologis had the 19th highest net out-flow for the day. Prologis traded up $0.79 for the day and closed at $52.57
A number of equities analysts have commented on the stock. Cantor Fitzgerald restated a “buy” rating and issued a $55.00 target price on shares of Prologis in a research note on Wednesday. Credit Suisse Group AG downgraded shares of Prologis from an “outperform” rating to a “neutral” rating and set a $48.00 target price on the stock. in a research note on Wednesday. JPMorgan Chase & Co. restated a “buy” rating on shares of Prologis in a research note on Wednesday. Citigroup Inc. upped their target price on shares of Prologis from $47.00 to $50.00 and gave the stock a “neutral” rating in a research note on Thursday, July 7th. Finally, SunTrust Banks Inc. downgraded shares of Prologis from a “buy” rating to a “neutral” rating and upped their target price for the stock from $35.25 to $49.11 in a research note on Thursday, June 30th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and eleven have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $47.53.
The firm’s 50 day moving average is $49.82 and its 200 day moving average is $44.41. The stock has a market capitalization of $27.59 billion and a P/E ratio of 32.09.
Prologis (NYSE:PLD) last issued its earnings results on Tuesday, July 19th. The company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.01. The firm had revenue of $602 million for the quarter, compared to analysts’ expectations of $221.07 million. During the same period last year, the firm earned $0.14 earnings per share. Analysts anticipate that Prologis Inc. will post ($0.27) EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, June 30th. Shareholders of record on Monday, June 13th were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date was Thursday, June 9th.
In other news, CAO Lori A. Palazzolo sold 4,400 shares of the business’s stock in a transaction that occurred on Tuesday, May 3rd. The shares were sold at an average price of $45.76, for a total value of $201,344.00. Following the sale, the chief accounting officer now directly owns 9,855 shares of the company’s stock, valued at approximately $450,964.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Hamid R. Moghadam sold 349,668 shares of the business’s stock in a transaction that occurred on Friday, July 15th. The shares were sold at an average price of $51.14, for a total transaction of $17,882,021.52. Following the completion of the sale, the chief executive officer now directly owns 349,668 shares in the company, valued at $17,882,021.52. The disclosure for this sale can be found here.
Several large investors recently added to or reduced their stakes in the stock. Morgan Stanley increased its stake in Prologis by 3.0% in the fourth quarter. Morgan Stanley now owns 10,994,924 shares of the company’s stock worth $471,903,000 after buying an additional 324,268 shares during the period. Principal Financial Group Inc. increased its stake in Prologis by 3.2% in the fourth quarter. Principal Financial Group Inc. now owns 9,151,224 shares of the company’s stock worth $392,770,000 after buying an additional 282,045 shares during the period. Dimensional Fund Advisors LP increased its stake in Prologis by 1.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,612,147 shares of the company’s stock worth $283,796,000 after buying an additional 67,811 shares during the period. Schroder Investment Management Group increased its stake in Prologis by 0.5% in the fourth quarter. Schroder Investment Management Group now owns 1,210,563 shares of the company’s stock worth $51,957,000 after buying an additional 6,188 shares during the period. Finally, Advantus Capital Management Inc increased its stake in Prologis by 11.8% in the fourth quarter. Advantus Capital Management Inc now owns 1,140,758 shares of the company’s stock worth $48,961,000 after buying an additional 120,669 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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