Several analysts have recently updated their ratings and price targets for Prologis (NYSE: PLD):

  • 8/3/2017 – Prologis was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Shares of Prologis have outperformed the industry it belongs to, year to date. Moreover, full-year 2017 estimates for funds from operations (FFO) per share moved north over the past 30 days. Recently, the company reported a better-than-expected second-quarter 2017 core FFO per share. Results reflect growth in rents and high occupancy. Further, this industrial REIT raised its core FFO per share outlook for full-year 2017 amid solid operating fundamentals and higher net promote income. The company’s build-to-suit activity also remained solid in 2017, with the company completing 20 such development projects in the first half. These projects included over 7 million square feet of space. Amid an improving industrial market, Prologis is well poised to benefit from its capacity to offer modern distribution facilities in strategic infill locations. However, increase in supply of new facilities and hike in interest rates remain concerns.”
  • 8/1/2017 – Prologis was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 7/31/2017 – Prologis was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $69.00 price target on the stock. According to Zacks, “Shares of Prologis have outperformed the industry it belongs to, year to date. Moreover, full-year 2017 estimates for funds from operations (FFO) per share moved north over the past 30 days. Recently, the company reported a better-than-expected second-quarter 2017 core FFO per share. Results reflect growth in rents and high occupancy. Further, this industrial REIT raised its core FFO per share outlook for full-year 2017 amid solid operating fundamentals and higher net promote income. The company’s build-to-suit activity also remained solid in 2017, with the company completing 20 such development projects in the first half. These projects included over 7 million square feet of space. Amid an improving industrial market, Prologis is well poised to benefit from its capacity to offer modern distribution facilities in strategic infill locations. However, increase in supply of new facilities and hike in interest rates remain concerns.”
  • 7/28/2017 – Prologis was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Prologis reported a better-than-expected second-quarter 2017 core FFO per share. The number also improved from the year-ago quarter. Results reflect growth in rents and high occupancy. Further, this industrial REIT raised its core FFO per share outlook for full-year 2017 amid solid operating fundamentals and higher net promote income. Also, year to date, shares of Prologis have outperformed the industry it belongs to. Notably, the company’s build-to-suit activity remained solid in 2017, with the company completing 20 such development projects in the first half. These projects included over 7 million square feet of space. Amid an improving industrial market, Prologis is well poised to benefit from its capacity to offer modern distribution facilities in strategic infill locations. However, increase in supply of new facilities and hike in interest rates remain concerns.”
  • 7/25/2017 – Prologis was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 7/25/2017 – Prologis had its price target raised by analysts at KeyCorp from $62.00 to $65.00. They now have a “buy” rating on the stock.
  • 7/24/2017 – Prologis had its “overweight” rating reaffirmed by analysts at Barclays PLC. They now have a $61.00 price target on the stock, up previously from $59.00.
  • 7/21/2017 – Prologis had its “outperform” rating reaffirmed by analysts at Evercore ISI. They now have a $64.00 price target on the stock, up previously from $61.00.
  • 7/6/2017 – Prologis had its “buy” rating reaffirmed by analysts at Stifel Nicolaus. They now have a $60.00 price target on the stock.
  • 6/25/2017 – Prologis had its “hold” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $60.00 price target on the stock, up previously from $54.00.
  • 6/23/2017 – Prologis was upgraded by analysts at Bank of America Corporation from a “neutral” rating to a “buy” rating. They now have a $65.00 price target on the stock, up previously from $58.00.
  • 6/21/2017 – Prologis was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating.
  • 6/14/2017 – Prologis was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $64.00 price target on the stock. According to Zacks, “Shares of Prologis outperformed the Zacks categorized REIT and Equity Trust – Other industry over the past three months. Also, funds from operations (FFO) per share estimates for second-quarter 2017 moved north over the last 60 days. In April, the company reported better-than expected first-quarter 2017 core FFO per share figure, backed by growth in revenues and occupancy gains. Further, it raised core FFO per share outlook for 2017. Amid a consistent shift toward e-commerce and supply chain strategy transformations, Prologis’ occupancy remained high. Demand for the company’s facilities was driven by growth in the housing, construction and e-commerce businesses. However, anticipated rise in the number of new facilities in the upcoming period, competitive landscape and hike in interest rates remain concerns for the company.”

Shares of Prologis, Inc. (PLD) opened at 59.94 on Friday. The stock has a market cap of $31.88 billion, a price-to-earnings ratio of 26.90 and a beta of 0.94. Prologis, Inc. has a 52 week low of $45.93 and a 52 week high of $61.81. The stock’s 50 day moving average price is $59.43 and its 200 day moving average price is $54.60.

Prologis (NYSE:PLD) last posted its quarterly earnings data on Tuesday, July 18th. The real estate investment trust reported $0.84 EPS for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.06. Prologis had a net margin of 43.99% and a return on equity of 6.65%. The business had revenue of $766.18 million for the quarter, compared to analyst estimates of $576 million. During the same quarter last year, the business earned $0.60 earnings per share. The business’s revenue for the quarter was up 27.2% on a year-over-year basis. Equities research analysts anticipate that Prologis, Inc. will post ($0.27) EPS for the current fiscal year.

In related news, insider Edward S. Nekritz sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $55.31, for a total transaction of $1,382,750.00. Following the transaction, the insider now owns 199,950 shares in the company, valued at $11,059,234.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Carl B. Webb sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $61.38, for a total transaction of $1,227,600.00. Following the transaction, the director now owns 66,078 shares in the company, valued at approximately $4,055,867.64. The disclosure for this sale can be found here. Insiders have sold 483,807 shares of company stock worth $27,400,851 in the last quarter. Company insiders own 1.31% of the company’s stock.

Prologis, Inc is a real estate investment trust (REIT) company. The Company is engaged in logistics real estate business. The Company’s segments include Real Estate Operations and Strategic Capital. The Real estate operations segment consists of rental operations and development. The Company’s strategic capital segment includes asset management services, as well as services performed for unconsolidated co-investment ventures.

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