BMO Capital Markets Reiterates “Buy” Rating for Prologis (PLD)

Prologis (NYSE:PLD)‘s stock had its “buy” rating reiterated by equities researchers at BMO Capital Markets in a research note issued on Tuesday. They presently have a $68.00 price objective on the real estate investment trust’s stock. BMO Capital Markets’ price target would suggest a potential upside of 3.93% from the company’s current price.

Other equities research analysts have also issued research reports about the company. Jefferies Group raised Prologis from a “hold” rating to a “buy” rating in a research note on Thursday, April 12th. Citigroup raised Prologis from a “neutral” rating to a “buy” rating and set a $72.00 price target for the company in a research note on Friday, April 6th. ValuEngine raised Prologis from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Robert W. Baird lifted their price target on Prologis from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, January 24th. Finally, Cantor Fitzgerald set a $69.00 price target on Prologis and gave the stock a “buy” rating in a research note on Tuesday, January 23rd. One analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Prologis currently has an average rating of “Buy” and a consensus target price of $67.94.

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NYSE:PLD traded up $0.13 during trading hours on Tuesday, hitting $65.43. 281,083 shares of the company’s stock traded hands, compared to its average volume of 2,552,725. 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 has a 52 week low of $53.15 and a 52 week high of $67.53. The firm has a market capitalization of $33,369.18, a price-to-earnings ratio of 23.28, a P/E/G ratio of 4.70 and a beta of 0.83.

Prologis (NYSE:PLD) last issued its quarterly earnings results on Tuesday, April 17th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.33. Prologis had a return on equity of 9.12% and a net margin of 63.11%. The firm had revenue of $555.90 million during the quarter, compared to analyst estimates of $552.42 million. During the same quarter in the previous year, the company posted $0.63 earnings per share. The company’s revenue was down 1.9% compared to the same quarter last year. equities analysts forecast that Prologis will post 2.91 earnings per share for the current fiscal year.

In other news, Director William D. Zollars sold 4,020 shares of the business’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 sale, the director now owns 20,225 shares of the company’s stock, valued at approximately $1,223,208. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Michael S. Curless sold 14,465 shares of the business’s stock in a transaction dated Wednesday, March 28th. The shares were sold at an average price of $62.49, for a total value of $903,917.85. Following the completion of the sale, the insider now directly owns 102 shares of the company’s stock, valued at approximately $6,373.98. The disclosure for this sale can be found here. Insiders own 1.32% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Virtue Capital Management LLC purchased a new position in Prologis during the 4th quarter valued at about $143,000. Parallel Advisors LLC increased its holdings in Prologis by 66.3% during the 4th quarter. Parallel Advisors LLC now owns 2,509 shares of the real estate investment trust’s stock valued at $162,000 after purchasing an additional 1,000 shares during the period. Bronfman E.L. Rothschild L.P. increased its holdings in Prologis by 75.5% during the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 2,678 shares of the real estate investment trust’s stock valued at $173,000 after purchasing an additional 1,152 shares during the period. Premia Global Advisors LLC purchased a new position in Prologis during the 4th quarter valued at about $192,000. Finally, Catalyst Capital Advisors LLC purchased a new position in Prologis during the 4th quarter valued at about $200,000. Institutional investors own 95.39% of the company’s stock.

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About Prologis

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of December 31, 2017, 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 684 million square feet (64 million square meters) in 19 countries.

Analyst Recommendations for Prologis (NYSE:PLD)

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