Prologis Inc (NYSE:PLD) Director Philip L. Hawkins sold 9,000 shares of Prologis stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $78.72, for a total value of $708,480.00. Following the sale, the director now directly owns 35,511 shares of the company’s stock, valued at $2,795,425.92. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.
Prologis stock traded down $0.02 during mid-day trading on Wednesday, reaching $78.81. 1,847,495 shares of the company were exchanged, compared to its average volume of 2,377,049. Prologis Inc has a 12 month low of $55.21 and a 12 month high of $79.13. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.36 and a quick ratio of 0.36. The firm has a market cap of $49.59 billion, a PE ratio of 26.01, a price-to-earnings-growth ratio of 4.35 and a beta of 1.00.
Prologis (NYSE:PLD) last posted its quarterly earnings data on Tuesday, April 16th. The real estate investment trust reported $0.73 EPS for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.01. Prologis had a return on equity of 6.83% and a net margin of 56.56%. The firm had revenue of $696.80 million for the quarter, compared to analyst estimates of $687.21 million. During the same quarter last year, the company earned $0.80 EPS. The company’s revenue was up 25.3% on a year-over-year basis. Sell-side analysts expect that Prologis Inc will post 3.22 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc increased its stake in shares of Prologis by 17.4% in the 3rd quarter. Vanguard Group Inc now owns 81,760,597 shares of the real estate investment trust’s stock valued at $5,542,552,000 after purchasing an additional 12,095,509 shares during the last quarter. BlackRock Inc. increased its stake in shares of Prologis by 2.0% in the 4th quarter. BlackRock Inc. now owns 66,632,462 shares of the real estate investment trust’s stock valued at $3,912,659,000 after purchasing an additional 1,302,676 shares during the last quarter. Cohen & Steers Inc. increased its stake in shares of Prologis by 1.0% in the 4th quarter. Cohen & Steers Inc. now owns 22,757,529 shares of the real estate investment trust’s stock valued at $1,336,322,000 after purchasing an additional 229,520 shares during the last quarter. FMR LLC increased its stake in shares of Prologis by 3.9% in the 1st quarter. FMR LLC now owns 20,743,807 shares of the real estate investment trust’s stock valued at $1,492,516,000 after purchasing an additional 769,477 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of Prologis by 8.1% in the 1st quarter. Principal Financial Group Inc. now owns 13,569,700 shares of the real estate investment trust’s stock valued at $976,340,000 after purchasing an additional 1,021,517 shares during the last quarter. Institutional investors own 95.46% of the company’s stock.
Several research firms recently weighed in on PLD. Barclays reissued a “buy” rating on shares of Prologis in a report on Thursday, February 21st. Zacks Investment Research upgraded Prologis from a “hold” rating to a “buy” rating and set a $84.00 price objective on the stock in a research note on Friday, April 26th. BMO Capital Markets restated a “buy” rating and set a $70.00 price objective on shares of Prologis in a research note on Sunday, April 21st. Citigroup set a $86.00 price objective on Prologis and gave the stock a “buy” rating in a research note on Thursday, June 6th. Finally, Morgan Stanley raised their price objective on Prologis from $75.00 to $78.50 and gave the stock an “overweight” rating in a research note on Monday, June 3rd. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Prologis has an average rating of “Buy” and an average price target of $74.46.
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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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