Prologis’ (PLD) “Buy” Rating Reaffirmed at BMO Capital Markets

Prologis (NYSE:PLD)‘s stock had its “buy” rating reiterated by stock analysts at BMO Capital Markets in a research note issued on Tuesday. They currently have a $70.00 price target on the real estate investment trust’s stock. BMO Capital Markets’ price objective would indicate a potential upside of 11.36% from the stock’s previous close.

PLD has been the subject of several other reports. SunTrust Banks set a $70.00 price objective on shares of Prologis and gave the stock a “buy” rating in a research note on Tuesday, August 7th. ValuEngine downgraded shares of Prologis from a “buy” rating to a “hold” rating in a research note on Thursday, July 19th. Barclays reiterated a “buy” rating and set a $70.00 price objective on shares of Prologis in a research note on Sunday. Zacks Investment Research upgraded shares of Prologis from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research note on Wednesday, September 12th. Finally, JPMorgan Chase & Co. set a $72.00 price objective on shares of Prologis and gave the stock a “buy” rating in a research note on Thursday, August 23rd. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Prologis has an average rating of “Buy” and a consensus target price of $71.47.

PLD traded down $1.00 during trading on Tuesday, hitting $62.86. The stock had a trading volume of 157,501 shares, compared to its average volume of 3,000,167. The company has a market cap of $42.67 billion, a price-to-earnings ratio of 22.56, a price-to-earnings-growth ratio of 4.43 and a beta of 0.72. Prologis has a twelve month low of $58.28 and a twelve month high of $68.20. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.51.

Prologis (NYSE:PLD) last announced its earnings results on Tuesday, October 16th. The real estate investment trust reported $0.72 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.01. The company had revenue of $611.00 million during the quarter, compared to the consensus estimate of $582.23 million. Prologis had a net margin of 74.17% and a return on equity of 10.11%. Prologis’s revenue was up 14.2% compared to the same quarter last year. During the same period last year, the firm earned $1.63 earnings per share. On average, sell-side analysts expect that Prologis will post 3.01 EPS for the current year.

In related news, insider Edward S. Nekritz sold 18,099 shares of the firm’s stock in a transaction on Friday, September 21st. The shares were sold at an average price of $67.66, for a total transaction of $1,224,578.34. Following the completion of the transaction, the insider now owns 106,102 shares of the company’s stock, valued at $7,178,861.32. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director William D. Zollars sold 8,020 shares of the firm’s stock in a transaction on Monday, July 23rd. The stock was sold at an average price of $62.45, for a total transaction of $500,849.00. Following the transaction, the director now directly owns 11,490 shares of the company’s stock, valued at approximately $717,550.50. The disclosure for this sale can be found here. Insiders have sold 52,690 shares of company stock valued at $3,501,582 over the last quarter. Insiders own 1.32% of the company’s stock.

Several institutional investors have recently modified their holdings of PLD. BB&T Securities LLC raised its holdings in shares of Prologis by 24.9% during the first quarter. BB&T Securities LLC now owns 4,806 shares of the real estate investment trust’s stock worth $302,000 after purchasing an additional 957 shares during the last quarter. LPL Financial LLC increased its holdings in Prologis by 14.0% in the first quarter. LPL Financial LLC now owns 20,756 shares of the real estate investment trust’s stock valued at $1,307,000 after buying an additional 2,551 shares in the last quarter. Verition Fund Management LLC purchased a new position in Prologis in the first quarter valued at $960,000. Millennium Management LLC increased its holdings in Prologis by 7,788.6% in the first quarter. Millennium Management LLC now owns 566,640 shares of the real estate investment trust’s stock valued at $35,693,000 after buying an additional 559,457 shares in the last quarter. Finally, Private Capital Group LLC increased its holdings in Prologis by 433.8% in the first quarter. Private Capital Group LLC now owns 2,984 shares of the real estate investment trust’s stock valued at $188,000 after buying an additional 2,425 shares in the last quarter. 80.59% of the stock is owned by hedge funds and other institutional investors.

About Prologis

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of June 30, 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 685 million square feet (64 million square meters) in 19 countries.

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Analyst Recommendations for Prologis (NYSE:PLD)

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