Prologis Inc. (PLD) Hits New 1-Year High at $53.89
Shares of Prologis Inc. (NYSE:PLD) hit a new 52-week high during trading on Thursday . The stock traded as high as $53.89 and last traded at $53.78, with a volume of 1,416,432 shares. The stock had previously closed at $52.52.
Several analysts have recently commented on the company. Barclays PLC increased their target price on Prologis from $58.00 to $59.00 and gave the stock an “overweight” rating in a report on Tuesday. Royal Bank Of Canada upped their price target on Prologis from $48.00 to $55.00 and gave the company an “outperform” rating in a research note on Tuesday. Stifel Nicolaus reaffirmed a “buy” rating and set a $50.00 price target (up previously from $48.00) on shares of Prologis in a research note on Wednesday, June 1st. RBC Capital Markets reaffirmed an “outperform” rating and set a $55.00 price target (up previously from $48.00) on shares of Prologis in a research note on Tuesday. Finally, Capital One Financial Corp. lowered Prologis from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, May 17th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eleven have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $48.69.
The firm’s 50-day moving average price is $50.44 and its 200-day moving average price is $44.82. The company has a market capitalization of $28.60 billion and a PE ratio of 33.27.
Prologis (NYSE:PLD) last released its quarterly earnings results on Tuesday, July 19th. The company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.01. During the same quarter last year, the firm posted $0.14 EPS. The company earned $602 million during the quarter, compared to the consensus estimate of $221.07 million. Analysts predict that Prologis Inc. will post ($0.27) EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, June 30th. Shareholders of record on Monday, June 13th were given a $0.42 dividend. The ex-dividend date was Thursday, June 9th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.08%.
In other Prologis news, CIO Michael S. Curless sold 18,500 shares of the company’s stock in a transaction dated Monday, May 2nd. The stock was sold at an average price of $45.98, for a total value of $850,630.00. Following the sale, the executive now owns 20,531 shares in the company, valued at approximately $944,015.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Hamid R. Moghadam sold 349,668 shares of the company’s stock in a transaction dated Friday, July 15th. The shares were sold at an average price of $51.14, for a total value of $17,882,021.52. Following the completion of the sale, the chief executive officer now owns 349,668 shares in the company, valued at approximately $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. Janus Capital Management raised its stake in Prologis by 56.8% in the third quarter. Janus Capital Management now owns 131,615 shares of the company’s stock worth $5,120,000 after buying an additional 47,658 shares during the period. PNC Financial Services Group Inc. increased its position in shares of Prologis by 75.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 39,576 shares of the company’s stock worth $1,698,000 after buying an additional 17,015 shares in the last quarter. Brown Advisory Inc. increased its position in shares of 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. GAM Holding AG increased its position in shares of Prologis by 4.2% in the fourth quarter. GAM Holding AG now owns 52,229 shares of the company’s stock worth $2,242,000 after buying an additional 2,107 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of 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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