Prologis Inc. (PLD) Rating Increased to Equal Weight at Capital One Financial Corp.
Prologis Inc. (NYSE:PLD) was upgraded by Capital One Financial Corp. from an “underweight” rating to an “equal weight” rating in a research note issued on Monday. The brokerage currently has a $53.00 target price on the stock. Capital One Financial Corp.’s price objective indicates a potential upside of 1.79% from the stock’s current price.
Several other brokerages have also issued reports on PLD. Morgan Stanley set a $58.00 price target on Prologis and gave the company a “buy” rating in a research note on Tuesday, September 6th. Wells Fargo & Co. reaffirmed a “neutral” rating on shares of Prologis in a research note on Sunday, September 4th. BTIG Research initiated coverage on Prologis in a research note on Thursday, August 25th. They set a “buy” rating and a $60.00 price target on the stock. Robert W. Baird lowered Prologis from an “outperform” rating to a “neutral” rating and upped their price target for the company from $52.00 to $54.00 in a research note on Wednesday, August 17th. Finally, 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, July 26th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and eleven have assigned a buy rating to the company’s stock. Prologis has an average rating of “Hold” and an average price target of $50.86.
Shares of Prologis (NYSE:PLD) opened at 52.07 on Monday. Prologis has a 52 week low of $35.25 and a 52 week high of $54.87. The company has a market capitalization of $27.44 billion, a PE ratio of 31.79 and a beta of 1.31. The company’s 50 day moving average is $52.34 and its 200-day moving average is $50.00.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Monday, September 19th were paid a dividend of $0.42 per share. The ex-dividend date of this dividend was Thursday, September 15th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.23%. Prologis’s dividend payout ratio (DPR) is currently 103.07%.
In other news, CEO Hamid R. Moghadam sold 446,991 shares of the stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $54.35, for a total transaction of $24,293,960.85. Following the completion of the sale, the chief executive officer now directly owns 446,991 shares in the company, valued at $24,293,960.85. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Gary E. Anderson sold 33,043 shares of the stock in a transaction dated Friday, August 12th. The stock was sold at an average price of $54.28, for a total transaction of $1,793,574.04. The disclosure for this sale can be found here. Insiders own 1.29% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Evercore Wealth Management LLC raised its stake in Prologis by 7.6% in the second quarter. Evercore Wealth Management LLC now owns 2,065 shares of the company’s stock worth $101,000 after buying an additional 145 shares in the last quarter. Global X Management Co. LLC raised its stake in Prologis by 63.4% in the second quarter. Global X Management Co. LLC now owns 2,852 shares of the company’s stock worth $140,000 after buying an additional 1,107 shares in the last quarter. Creative Planning raised its stake in Prologis by 12.7% in the second quarter. Creative Planning now owns 2,889 shares of the company’s stock worth $142,000 after buying an additional 325 shares in the last quarter. Tower Research Capital LLC TRC purchased a new stake in Prologis during the second quarter worth $149,000. Finally, Meeder Asset Management Inc. raised its stake in Prologis by 1,589.2% in the first quarter. Meeder Asset Management Inc. now owns 3,767 shares of the company’s stock worth $167,000 after buying an additional 3,544 shares in the last quarter. Institutional investors own 99.83% of the company’s stock.
Prologis Company Profile
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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