Prologis (NYSE:PLD) Price Target Increased to $89.00 by Analysts at SunTrust Banks

Prologis (NYSE:PLD) had its price objective raised by investment analysts at SunTrust Banks from $81.00 to $89.00 in a research report issued on Tuesday, BenzingaRatingsTable reports. The firm presently has a “buy” rating on the real estate investment trust’s stock. SunTrust Banks’ price target would indicate a potential upside of 8.96% from the stock’s previous close.

Other research analysts have also recently issued research reports about the stock. BMO Capital Markets restated a “buy” rating and issued a $85.00 price objective on shares of Prologis in a research report on Wednesday, July 17th. Zacks Investment Research cut shares of Prologis from a “buy” rating to a “hold” rating in a research report on Thursday, May 16th. Morgan Stanley boosted their price objective on shares of Prologis from $75.00 to $78.50 and gave the stock an “overweight” rating in a research report on Monday, June 3rd. KeyCorp boosted their price objective on shares of Prologis from $79.00 to $86.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Finally, Goldman Sachs Group began coverage on shares of Prologis in a research report on Wednesday, May 15th. They issued a “conviction-buy” rating for the company. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $78.04.

Shares of NYSE:PLD traded down $0.01 during trading on Tuesday, reaching $81.68. The stock had a trading volume of 24,276 shares, compared to its average volume of 2,266,201. Prologis has a 52 week low of $55.21 and a 52 week high of $83.99. The firm has a 50-day simple moving average of $81.20. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.54 and a quick ratio of 0.54. The company has a market cap of $51.65 billion, a PE ratio of 26.96, a PEG ratio of 4.41 and a beta of 1.03.

Prologis (NYSE:PLD) last posted its earnings results on Monday, July 15th. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.16). Prologis had a net margin of 55.04% and a return on equity of 6.55%. The firm had revenue of $700.69 million during the quarter, compared to the consensus estimate of $704.19 million. During the same quarter last year, the firm posted $0.71 EPS. The business’s revenue was up 28.6% on a year-over-year basis. Equities research analysts anticipate that Prologis will post 3.28 earnings per share for the current fiscal year.

In other Prologis news, insider Eugene F. Reilly sold 12,500 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $81.72, for a total transaction of $1,021,500.00. Following the completion of the sale, the insider now owns 10,685 shares in the company, valued at approximately $873,178.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Thomas S. Olinger sold 13,051 shares of the company’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $82.25, for a total transaction of $1,073,444.75. Following the sale, the chief financial officer now owns 20,667 shares of the company’s stock, valued at approximately $1,699,860.75. The disclosure for this sale can be found here. Insiders sold a total of 34,551 shares of company stock valued at $2,803,425 in the last 90 days. 1.10% of the stock is currently owned by corporate insiders.

Several institutional investors have recently modified their holdings of PLD. Comerica Securities Inc. increased its holdings in shares of Prologis by 58.0% in the fourth quarter. Comerica Securities Inc. now owns 6,659 shares of the real estate investment trust’s stock valued at $391,000 after purchasing an additional 2,445 shares during the period. Geode Capital Management LLC increased its holdings in shares of Prologis by 7.4% in the fourth quarter. Geode Capital Management LLC now owns 9,243,695 shares of the real estate investment trust’s stock valued at $541,949,000 after purchasing an additional 636,563 shares during the period. Mercer Global Advisors Inc. ADV acquired a new position in shares of Prologis in the first quarter valued at approximately $248,000. First Manhattan Co. increased its holdings in shares of Prologis by 69.7% in the first quarter. First Manhattan Co. now owns 12,569 shares of the real estate investment trust’s stock valued at $904,000 after purchasing an additional 5,163 shares during the period. Finally, Raymond James Trust N.A. increased its holdings in shares of Prologis by 2.9% in the first quarter. Raymond James Trust N.A. now owns 24,631 shares of the real estate investment trust’s stock valued at $1,773,000 after purchasing an additional 685 shares during the period. Institutional investors own 95.35% of the company’s stock.

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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