Prologis Inc. (PLD) Sets New 12-Month High at $51.08
Prologis Inc. (NYSE:PLD) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $51.08 and last traded at $50.91, with a volume of 1,754,002 shares traded. The stock had previously closed at $50.96.
PLD has been the topic of a number of recent analyst reports. Bank of America Corp. downgraded Prologis from a “buy” rating to a “neutral” rating in a research report on Friday, June 24th. Capital One Financial Corp. downgraded Prologis from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, May 18th. Stifel Nicolaus reiterated a “buy” rating and issued a $50.00 price objective (up previously from $48.00) on shares of Prologis in a research report on Wednesday, June 1st. Evercore ISI downgraded Prologis from a “buy” rating to a “hold” rating and increased their price objective for the stock from $48.00 to $49.00 in a research report on Monday, May 23rd. Finally, Zacks Investment Research downgraded Prologis from a “buy” rating to a “hold” rating in a research report on Friday, April 22nd. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and ten have assigned a buy rating to the stock. Prologis has a consensus rating of “Hold” and a consensus price target of $47.22.
The company has a market capitalization of $26.80 billion and a price-to-earnings ratio of 36.89. The company has a 50 day moving average of $49.15 and a 200 day moving average of $44.03.
Prologis (NYSE:PLD) last posted its earnings results on Tuesday, April 19th. The company reported $0.61 EPS for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.02. The firm had revenue of $606.30 million for the quarter, compared to analysts’ expectations of $221.07 million. The company’s revenue was up 31.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.49 EPS. Equities research analysts anticipate that Prologis Inc. will post ($0.27) EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, June 30th. Investors of record on Monday, June 13th were given a dividend of $0.42 per share. The ex-dividend date was Thursday, June 9th. This represents a $1.68 dividend on an annualized basis and a yield of 3.30%.
In related news, insider Edward S. Nekritz sold 5,675 shares of the stock in a transaction that occurred on Friday, June 17th. The shares were sold at an average price of $50.20, for a total transaction of $284,885.00. Following the completion of the sale, the insider now owns 217,534 shares of the company’s stock, valued at $10,920,206.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director J Michael Losh sold 14,380 shares of the stock in a transaction that occurred on Thursday, May 12th. The shares were sold at an average price of $46.97, for a total transaction of $675,428.60. Following the sale, the director now directly owns 35,719 shares of the company’s stock, valued at approximately $1,677,721.43. The disclosure for this sale can be found here.
A number of large investors have recently bought and sold shares of PLD. Vanguard Group Inc. boosted its stake in Prologis by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 69,929,901 shares of the company’s stock worth $3,001,392,000 after buying an additional 1,910,209 shares during the last quarter. Morgan Stanley boosted its position 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 in the last quarter. Principal Financial Group Inc. boosted its position 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 in the last quarter. Dimensional Fund Advisors LP boosted its position 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 in the last quarter. Finally, Schroder Investment Management Group boosted its position 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 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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