BMO Capital Markets set a $69.00 target price on Prologis, Inc. (NYSE:PLD) in a report issued on Tuesday, October 17th. The firm currently has a buy rating on the real estate investment trust’s stock.
Other analysts have also recently issued research reports about the company. Evercore ISI reissued an outperform rating and issued a $64.00 price objective (up previously from $61.00) on shares of Prologis in a research report on Friday, July 21st. Zacks Investment Research cut Prologis from a buy rating to a hold rating in a research report on Friday, July 28th. KeyCorp lifted their price target on Prologis from $62.00 to $65.00 and gave the stock a buy rating in a research report on Tuesday, July 25th. Barclays PLC reaffirmed an overweight rating and set a $61.00 price target (up previously from $59.00) on shares of Prologis in a research report on Monday, July 24th. Finally, BidaskClub raised Prologis from a buy rating to a strong-buy rating in a report on Friday, August 18th. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of Buy and an average price target of $64.80.
Prologis (PLD) traded up $0.42 on Tuesday, reaching $66.69. The company’s stock had a trading volume of 751,894 shares, compared to its average volume of 2,098,092. The stock has a market cap of $35,261.07, a P/E ratio of 23.92, a P/E/G ratio of 4.44 and a beta of 0.92. Prologis has a one year low of $45.93 and a one year high of $66.83. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.80 and a quick ratio of 0.80.
Prologis (NYSE:PLD) last announced its quarterly earnings results on Tuesday, October 17th. The real estate investment trust reported $0.67 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.67. Prologis had a return on equity of 9.93% and a net margin of 68.50%. The business had revenue of $531.18 million for the quarter, compared to the consensus estimate of $573.68 million. During the same period last year, the business posted $0.14 EPS. The business’s revenue was down 5.2% compared to the same quarter last year. equities analysts anticipate that Prologis will post 2.8 EPS for the current year.
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Several institutional investors have recently bought and sold shares of PLD. BlackRock Inc. increased its position in shares of Prologis by 2,123.5% during the first quarter. BlackRock Inc. now owns 50,855,716 shares of the real estate investment trust’s stock worth $2,638,393,000 after acquiring an additional 48,568,495 shares during the period. Brookfield Asset Management Inc. purchased a new stake in shares of Prologis during the first quarter worth $227,403,000. Capital World Investors increased its position in shares of Prologis by 181.4% during the second quarter. Capital World Investors now owns 6,640,000 shares of the real estate investment trust’s stock worth $389,370,000 after acquiring an additional 4,280,000 shares during the period. Lazard Asset Management LLC increased its holdings in Prologis by 3,877.2% in the second quarter. Lazard Asset Management LLC now owns 2,533,654 shares of the real estate investment trust’s stock valued at $148,573,000 after buying an additional 2,469,949 shares during the last quarter. Finally, Swedbank purchased a new position in Prologis in the second quarter valued at $120,268,000. 95.74% of the stock is currently owned by institutional investors and hedge funds.
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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