Prologis Inc. (PLD) Hits New 1-Year High at $53.89
Prologis Inc. (NYSE:PLD) shares 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 traded. The stock had previously closed at $52.52.
Several research analysts recently commented on the stock. RBC Capital Markets reiterated an “outperform” rating and issued a $55.00 target price (up previously from $48.00) on shares of Prologis in a report on Tuesday. Barclays PLC lifted their target price on shares of Prologis from $58.00 to $59.00 and gave the stock an “overweight” rating in a report on Tuesday. Royal Bank Of Canada lifted their target price on shares of Prologis from $48.00 to $55.00 and gave the stock an “outperform” rating in a report on Tuesday. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Prologis in a report on Wednesday, July 20th. Finally, Credit Suisse Group AG downgraded shares of Prologis from an “outperform” rating to a “neutral” rating and set a $48.00 target price on the stock. in a report on Wednesday, July 20th. 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. The company currently has an average rating of “Hold” and an average price target of $48.69.
The stock has a 50-day moving average price of $50.19 and a 200 day moving average price of $44.66. The company has a market cap of $28.15 billion and a P/E ratio of 32.74.
Prologis (NYSE:PLD) last posted its earnings results on Tuesday, July 19th. The company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.01. During the same quarter in the prior year, the business posted $0.14 EPS. The company had revenue of $602 million for the quarter, compared to analyst estimates of $221.07 million. Equities research analysts anticipate that Prologis Inc. will post ($0.27) EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, June 30th. Stockholders of record on Monday, June 13th were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date was Thursday, June 9th.
In other news, CEO Hamid R. Moghadam sold 349,668 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $17,882,021.52. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CIO Michael S. Curless sold 18,500 shares of the firm’s stock in a transaction dated Monday, May 2nd. The stock was sold at an average price of $45.98, for a total transaction of $850,630.00. Following the sale, the executive now owns 20,531 shares of the company’s stock, valued at approximately $944,015.38. The disclosure for this sale can be found here.
A number of institutional investors have added to or reduced their stakes in PLD. Janus Capital Management raised its position 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 in the last quarter. PNC Financial Services Group Inc. raised its position in 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. raised its position 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. GAM Holding AG raised its position in 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 raised its position 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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