Prologis Inc. (PLD) Sets New 1-Year High at $52.24
Prologis Inc. (NYSE:PLD)’s share price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $52.24 and last traded at $52.20, with a volume of 1,176,701 shares. The stock had previously closed at $51.78.
PLD has been the subject of a number of recent analyst reports. Zacks Investment Research lowered Prologis from a “buy” rating to a “hold” rating in a report on Friday, April 22nd. Bank of America Corp. lowered Prologis from a “buy” rating to a “neutral” rating in a report on Friday, June 24th. Stifel Nicolaus restated a “buy” rating and issued a $50.00 target price (up from $48.00) on shares of Prologis in a research report on Wednesday, June 1st. Credit Suisse Group AG downgraded Prologis to a “hold” rating in a research report on Tuesday, June 21st. Finally, SunTrust Banks Inc. downgraded 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 report on Thursday, June 30th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and ten have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $47.51.
The company has a market cap of $27.59 billion and a price-to-earnings ratio of 32.09. The firm has a 50-day moving average price of $49.82 and a 200-day moving average price of $44.41.
Prologis (NYSE:PLD) last released 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 business had revenue of $602 million for the quarter, compared to analyst estimates of $221.07 million. During the same period in the prior year, the firm posted $0.14 EPS. On average, analysts predict that Prologis Inc. will post ($0.27) EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 30th. Shareholders of record on Monday, June 13th were issued 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 Prologis news, CEO Hamid R. Moghadam sold 349,668 shares of Prologis stock in a transaction 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 owns 349,668 shares of the company’s stock, valued at approximately $17,882,021.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Hamid R. Moghadam sold 37,673 shares of Prologis stock in a transaction on Thursday, July 14th. The stock was sold at an average price of $51.01, for a total transaction of $1,921,699.73. Following the sale, the chief executive officer now directly owns 37,673 shares of the company’s stock, valued at approximately $1,921,699.73. The disclosure for this sale can be found here.
A number of hedge funds have added to or reduced their stakes in the company. Fort Washington Investment Advisors Inc. OH raised its stake in Prologis by 52.9% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 24,000 shares of the company’s stock worth $1,030,000 after buying an additional 8,300 shares in the last quarter. Brown Advisory Inc. raised its stake in Prologis by 1.2% in the fourth quarter. Brown Advisory Inc. now owns 28,130 shares of the company’s stock worth $1,207,000 after buying an additional 329 shares in the last quarter. Ashburton Jersey Ltd acquired a new stake in Prologis during the fourth quarter worth approximately $1,244,000. Tredje AP fonden raised its stake in Prologis by 3.2% in the fourth quarter. Tredje AP fonden now owns 31,342 shares of the company’s stock worth $1,358,000 after buying an additional 963 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Prologis by 1.7% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 34,256 shares of the company’s stock worth $1,470,000 after buying an additional 581 shares in the last quarter.
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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