Prologis Inc. (PLD) Sees Unusually-High Trading Volume
Shares of Prologis Inc. (NYSE:PLD) saw strong trading volume on Monday . 1,974,991 shares changed hands during trading, a decline of 14% from the previous session’s volume of 2,298,371 shares.The stock last traded at $53.49 and had previously closed at $52.56.
A number of equities research analysts have commented on the stock. Royal Bank Of Canada increased their price objective on shares of Prologis from $48.00 to $55.00 and gave the stock an “outperform” rating in a report on Tuesday, July 26th. Barclays PLC increased their price objective on shares of Prologis from $58.00 to $59.00 and gave the stock an “overweight” rating in a report on Tuesday, July 26th. Stifel Nicolaus reissued a “buy” rating and set a $50.00 price objective (up previously from $48.00) on shares of Prologis in a report on Wednesday, June 1st. Capital One Financial Corp. lowered shares of Prologis from an “overweight” rating to an “equal weight” rating in a report on Tuesday, May 17th. Finally, RBC Capital Markets reissued an “outperform” rating and set a $55.00 price objective (up previously from $48.00) on shares of Prologis in a report on Tuesday, July 26th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $49.53.
The stock’s 50 day moving average price is $53.02 and its 200-day moving average price is $47.15. The firm has a market cap of $28.01 billion and a P/E ratio of 32.45.
Prologis (NYSE:PLD) last posted its quarterly 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. The business had revenue of $602 million for the quarter, compared to the consensus estimate of $221.07 million. During the same quarter in the previous year, the company posted $0.14 earnings per share. Analysts predict that Prologis Inc. will post ($0.27) EPS for the current fiscal year.
In other news, CEO Gary E. Anderson sold 33,043 shares of the company’s stock in a transaction that occurred on Friday, August 12th. The stock was sold at an average price of $54.28, for a total transaction of $1,793,574.04. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Hamid R. Moghadam sold 37,673 shares of the company’s stock in a transaction that occurred on Thursday, July 14th. The stock was sold at an average price of $51.01, for a total value of $1,921,699.73. Following the transaction, the chief executive officer now directly owns 37,673 shares in the company, valued at $1,921,699.73. The disclosure for this sale can be found here.
Several institutional investors have recently modified their holdings of the company. Schwab Charles Investment Management Inc. raised its position in shares of Prologis by 9.5% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 3,058,783 shares of the company’s stock worth $131,283,000 after buying an additional 265,091 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in shares of Prologis by 1,158.1% in the fourth quarter. BNP Paribas Arbitrage SA now owns 159,943 shares of the company’s stock worth $6,865,000 after buying an additional 147,230 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of 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 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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