Prologis (PLD) Lifted to “Outperform” at Evercore ISI

Evercore ISI upgraded shares of Prologis (NYSE:PLD) from an in-line rating to an outperform rating in a research note released on Monday morning, MarketBeat reports.

A number of other brokerages have also recently issued reports on PLD. SunTrust Banks raised shares of Prologis from a hold rating to a buy rating and set a $58.00 price objective on the stock in a research note on Tuesday, September 5th. Bank of America set a $72.00 price objective on shares of Prologis and gave the stock a buy rating in a report on Wednesday, October 25th. KeyCorp restated a buy rating and set a $65.00 price objective on shares of Prologis in a report on Sunday, August 27th. BMO Capital Markets assumed coverage on shares of Prologis in a research note on Monday, September 11th. They issued an outperform rating and a $69.00 price target on the stock. Finally, Zacks Investment Research upgraded shares of Prologis from a hold rating to a buy rating and set a $71.00 price target on the stock in a research note on Monday, September 25th. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Prologis has an average rating of Buy and a consensus price target of $66.31.

Shares of Prologis (PLD) opened at $64.72 on Monday. 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 has a one year low of $48.33 and a one year high of $67.53. The firm has a market cap of $34,287.36, a PE ratio of 23.26, a P/E/G ratio of 4.24 and a beta of 0.91.

Prologis (NYSE:PLD) last posted its quarterly earnings results on Tuesday, October 17th. The real estate investment trust reported $0.67 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.67. The firm had revenue of $531.18 million during the quarter, compared to analyst estimates of $573.68 million. Prologis had a net margin of 68.50% and a return on equity of 9.93%. The company’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.14 earnings per share. research analysts forecast that Prologis will post 2.8 EPS for the current year.

In other news, CEO Eugene F. Reilly sold 18,000 shares of the stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $66.55, for a total value of $1,197,900.00. Following the completion of the sale, the chief executive officer now owns 63,365 shares in the company, valued at $4,216,940.75. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Eugene F. Reilly sold 15,000 shares of the stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $66.61, for a total transaction of $999,150.00. Following the completion of the sale, the chief executive officer now owns 63,365 shares of the company’s stock, valued at approximately $4,220,742.65. The disclosure for this sale can be found here. 1.31% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Shine Investment Advisory Services Inc. boosted its position in shares of Prologis by 0.6% in the second quarter. Shine Investment Advisory Services Inc. now owns 8,929 shares of the real estate investment trust’s stock valued at $524,000 after acquiring an additional 52 shares during the period. Creative Planning boosted its position in shares of Prologis by 3.4% in the second quarter. Creative Planning now owns 2,078 shares of the real estate investment trust’s stock valued at $122,000 after acquiring an additional 69 shares during the period. National Asset Management Inc. boosted its position in shares of Prologis by 1.5% in the second quarter. National Asset Management Inc. now owns 5,137 shares of the real estate investment trust’s stock valued at $302,000 after acquiring an additional 75 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Prologis by 0.3% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 39,399 shares of the real estate investment trust’s stock valued at $2,310,000 after acquiring an additional 133 shares during the period. Finally, Miles Capital Inc. boosted its position in shares of Prologis by 1.5% in the second quarter. Miles Capital Inc. now owns 10,345 shares of the real estate investment trust’s stock valued at $607,000 after acquiring an additional 157 shares during the period. Hedge funds and other institutional investors own 95.57% of the company’s stock.

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About Prologis

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.

Analyst Recommendations for Prologis (NYSE:PLD)

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