Prologis Inc (PLD) Receives $67.69 Average Target Price from Brokerages
Shares of Prologis Inc (NYSE:PLD) have been assigned an average recommendation of “Buy” from the seventeen ratings firms that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $67.69.
A number of brokerages recently weighed in on PLD. BMO Capital Markets set a $68.00 price objective on Prologis and gave the company a “buy” rating in a research report on Tuesday, January 23rd. Barclays reaffirmed an “overweight” rating and set a $72.00 price objective on shares of Prologis in a research report on Friday, February 16th. KeyCorp reaffirmed a “buy” rating and set a $72.00 price objective on shares of Prologis in a research report on Thursday, December 21st. Jefferies Group reaffirmed a “neutral” rating on shares of Prologis in a research report on Wednesday, January 24th. Finally, Cantor Fitzgerald set a $69.00 price objective on Prologis and gave the company a “buy” rating in a research report on Tuesday, January 23rd.
In other news, Director William D. Zollars sold 4,020 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $60.48, for a total value of $243,129.60. Following the completion of the transaction, the director now directly owns 20,225 shares in the company, valued at $1,223,208. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Thomas S. Olinger sold 46,200 shares of the firm’s stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $66.33, for a total value of $3,064,446.00. Following the completion of the transaction, the chief financial officer now owns 36,325 shares of the company’s stock, valued at $2,409,437.25. The disclosure for this sale can be found here. Over the last quarter, insiders sold 70,872 shares of company stock valued at $4,646,598. 1.31% of the stock is currently owned by company insiders.
Shares of Prologis (NYSE PLD) traded down $0.50 during mid-day trading on Wednesday, reaching $60.22. The company had a trading volume of 2,436,559 shares, compared to its average volume of 3,114,327. Prologis has a 12 month low of $48.80 and a 12 month high of $67.53. The company has a market capitalization of $32,367.04, a P/E ratio of 19.68, a P/E/G ratio of 4.57 and a beta of 0.88. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.68 and a current ratio of 0.68.
Prologis (NYSE:PLD) last issued its quarterly earnings data on Tuesday, January 23rd. The real estate investment trust reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.01. Prologis had a return on equity of 9.12% and a net margin of 63.11%. The company had revenue of $550.65 million for the quarter, compared to the consensus estimate of $533.54 million. During the same quarter last year, the company earned $0.63 earnings per share. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. sell-side analysts predict that Prologis will post 2.91 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Thursday, March 15th will be paid a $0.48 dividend. The ex-dividend date of this dividend is Wednesday, March 14th. This is a boost from Prologis’s previous quarterly dividend of $0.44. This represents a $1.92 dividend on an annualized basis and a yield of 3.19%. Prologis’s dividend payout ratio (DPR) is 57.52%.
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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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