Prologis Inc (PLD) Receives Average Recommendation of “Buy” from Brokerages

Prologis Inc (NYSE:PLD) has received an average rating of “Buy” from the sixteen research firms that are presently covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $72.09.

A number of equities research analysts have recently issued reports on PLD shares. Wells Fargo & Co set a $65.00 price target on shares of Prologis and gave the stock a “market perform” rating in a report on Wednesday, January 16th. They noted that the move was a valuation call. Barclays reissued a “buy” rating on shares of Prologis in a report on Thursday, February 21st. Deutsche Bank raised shares of Prologis from a “hold” rating to a “buy” rating and increased their price target for the stock from $68.00 to $72.00 in a report on Tuesday, December 18th. ValuEngine downgraded shares of Prologis from a “buy” rating to a “hold” rating in a report on Wednesday, January 2nd. Finally, Robert W. Baird downgraded shares of Prologis from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $73.00 to $71.00 in a report on Friday, March 1st.

In other Prologis news, insider Edward S. Nekritz sold 32,499 shares of the stock in a transaction that occurred on Wednesday, January 30th. The shares were sold at an average price of $68.32, for a total transaction of $2,220,331.68. Following the transaction, the insider now directly owns 91,158 shares in the company, valued at $6,227,914.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lydia H. Kennard sold 14,380 shares of the stock in a transaction that occurred on Thursday, February 7th. The shares were sold at an average price of $70.24, for a total transaction of $1,010,051.20. Following the transaction, the director now owns 46,703 shares in the company, valued at $3,280,418.72. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 127,126 shares of company stock worth $8,895,929. 1.10% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Clean Yield Group bought a new position in shares of Prologis in the fourth quarter worth approximately $31,000. Benjamin F. Edwards & Company Inc. grew its holdings in shares of Prologis by 134.5% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 523 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 300 shares during the last quarter. Lindbrook Capital LLC bought a new position in shares of Prologis in the fourth quarter worth approximately $33,000. PRW Wealth Management LLC bought a new position in shares of Prologis in the fourth quarter worth approximately $33,000. Finally, Evolution Wealth Advisors LLC bought a new position in shares of Prologis in the fourth quarter worth approximately $35,000. Institutional investors and hedge funds own 95.57% of the company’s stock.

NYSE PLD traded down $0.30 during trading on Thursday, hitting $72.85. 1,157,433 shares of the company’s stock traded hands, compared to its average volume of 2,556,691. The company has a market cap of $46.11 billion, a PE ratio of 24.04, a price-to-earnings-growth ratio of 4.46 and a beta of 1.02. Prologis has a 12-month low of $55.21 and a 12-month high of $73.43. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 0.43.

Prologis (NYSE:PLD) last announced its quarterly earnings results on Tuesday, January 22nd. The real estate investment trust reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.01. Prologis had a net margin of 58.81% and a return on equity of 7.46%. The firm had revenue of $679.20 million for the quarter, compared to the consensus estimate of $661.64 million. During the same period in the prior year, the firm posted $0.55 earnings per share. The company’s revenue for the quarter was up 23.3% on a year-over-year basis. As a group, equities research analysts anticipate that Prologis will post 3.17 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 2.91%. This is a boost from Prologis’s previous quarterly dividend of $0.48. The ex-dividend date was Thursday, March 14th. Prologis’s dividend payout ratio is 69.97%.

Prologis Company Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of December 31, 2018, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 768 million square feet (71 million square meters) in 19 countries.

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Analyst Recommendations for Prologis (NYSE:PLD)

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