Prologis Inc. (PLD) Sets New 1-Year High at $52.24
Shares of Prologis Inc. (NYSE:PLD) hit a new 52-week high during mid-day trading on Friday . The stock 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.
Several analysts have recently issued reports on PLD shares. Zacks Investment Research raised Prologis from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a report on Tuesday, April 5th. Bank of America Corp. reaffirmed a “buy” rating on shares of Prologis in a report on Tuesday, April 12th. Capital One Financial Corp. downgraded Prologis from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, May 18th. Evercore ISI downgraded Prologis from a “buy” rating to a “hold” rating and boosted their target price for the company from $48.00 to $49.00 in a research report on Monday, May 23rd. Finally, Stifel Nicolaus reissued a “buy” rating and set a $50.00 target price (up previously from $48.00) on shares of Prologis in a research report on Wednesday, June 1st. One analyst has rated the stock with a sell rating, twelve have given a hold rating and eleven have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $47.53.
The company has a market capitalization of $27.50 billion and a PE ratio of 31.98. The firm has a 50 day moving average price of $49.69 and a 200 day moving average price of $44.33.
Prologis (NYSE:PLD) last posted its quarterly earnings data on Tuesday, July 19th. The company reported $0.60 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.01. During the same period in the prior year, the company earned $0.14 earnings per share. The company had revenue of $602 million for the quarter, compared to analysts’ expectations of $221.07 million. On average, equities analysts anticipate that Prologis Inc. will post ($0.27) earnings per share for the current fiscal year.
The business also recently disclosed 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 annualized dividend and a yield of 3.24%. The ex-dividend date was Thursday, June 9th.
In other Prologis news, CAO Lori A. Palazzolo sold 4,400 shares of the business’s stock in a transaction that occurred on Tuesday, May 3rd. The stock was sold at an average price of $45.76, for a total transaction of $201,344.00. Following the transaction, the chief accounting officer now owns 9,855 shares in the company, valued at approximately $450,964.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Hamid R. Moghadam sold 349,668 shares of the business’s stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $51.14, for a total value of $17,882,021.52. Following the transaction, 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.
A number of institutional investors have added to or reduced their stakes in PLD. Fort Washington Investment Advisors Inc. OH boosted its position 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 valued at $1,030,000 after buying an additional 8,300 shares during the last quarter. Commerzbank Aktiengesellschaft FI boosted its position in Prologis by 88.8% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 27,632 shares of the company’s stock valued at $1,186,000 after buying an additional 12,996 shares during the last quarter. Brown Advisory Inc. boosted its position in Prologis by 1.2% in the fourth quarter. Brown Advisory Inc. now owns 28,130 shares of the company’s stock valued at $1,207,000 after buying an additional 329 shares during the last quarter. Ashburton Jersey Ltd acquired a new position in Prologis during the fourth quarter valued at about $1,244,000. Finally, Tredje AP fonden boosted its position in Prologis by 3.2% in the fourth quarter. Tredje AP fonden now owns 31,342 shares of the company’s stock valued at $1,358,000 after buying an additional 963 shares during 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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