KeyCorp Increases Prologis (NYSE:PLD) Price Target to $86.00

Prologis (NYSE:PLD) had its price objective lifted by KeyCorp from $79.00 to $86.00 in a research report report published on Wednesday, Stock Target Advisor reports. KeyCorp currently has an overweight rating on the real estate investment trust’s stock.

Several other research firms have also recently weighed in on PLD. Morgan Stanley cut shares of Meili from an equal weight rating to an underweight rating and lowered their price objective for the company from $14.00 to $4.20 in a research report on Monday, June 3rd. Goldman Sachs Group initiated coverage on shares of Liberty Property Trust in a research report on Wednesday, May 15th. They issued a neutral rating and a $49.00 price objective for the company. Citigroup set a $86.00 price objective on shares of Prologis and gave the company a buy rating in a research report on Thursday, June 6th. BMO Capital Markets restated a buy rating and issued a $70.00 price objective on shares of Prologis in a research report on Sunday, April 21st. Finally, Zacks Investment Research cut shares of G1 Therapeutics from a buy rating to a hold rating in a research report on Thursday, May 16th. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $74.96.

Shares of Prologis stock opened at $80.03 on Wednesday. The firm has a market cap of $51.11 billion, a PE ratio of 26.41, a P/E/G ratio of 4.59 and a beta of 1.03. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.42. The stock’s 50-day moving average price is $78.99. Prologis has a 12-month low of $55.21 and a 12-month high of $83.99.

Prologis (NYSE:PLD) last posted its quarterly earnings data on Tuesday, April 16th. The real estate investment trust reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.01. The firm had revenue of $696.80 million during the quarter, compared to analysts’ expectations of $687.21 million. Prologis had a net margin of 56.56% and a return on equity of 6.83%. The company’s quarterly revenue was up 25.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.80 EPS. On average, equities analysts predict that Prologis will post 3.23 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Thursday, June 13th were paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 2.65%. The ex-dividend date was Wednesday, June 12th. Prologis’s dividend payout ratio (DPR) is presently 69.97%.

In other news, insider Edward S. Nekritz sold 30,671 shares of the firm’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $75.01, for a total value of $2,300,631.71. Following the transaction, the insider now owns 21,121 shares of the company’s stock, valued at approximately $1,584,286.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Philip L. Hawkins sold 9,000 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $78.72, for a total transaction of $708,480.00. Following the completion of the transaction, the director now directly owns 35,511 shares in the company, valued at approximately $2,795,425.92. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of PLD. Berman Capital Advisors LLC boosted its stake in shares of Prologis by 105.3% in the 1st quarter. Berman Capital Advisors LLC now owns 388 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 199 shares during the last quarter. PRW Wealth Management LLC bought a new position in Prologis during the 4th quarter worth approximately $33,000. Thor Advisors LLC bought a new position in Prologis during the 1st quarter worth approximately $37,000. Hexavest Inc. bought a new position in Prologis during the 2nd quarter worth approximately $42,000. Finally, Rational Advisors LLC boosted its stake in Prologis by 61.8% during the 1st quarter. Rational Advisors LLC now owns 618 shares of the real estate investment trust’s stock worth $44,000 after acquiring an additional 236 shares during the last quarter. 95.41% of the stock is currently owned by 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 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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