Prologis (NYSE:PLD) Sets New 1-Year High at $84.06
Prologis Inc (NYSE:PLD)’s stock price hit a new 52-week high on Monday . The stock traded as high as $84.06 and last traded at $83.78, with a volume of 852542 shares traded. The stock had previously closed at $82.39.
Several analysts have weighed in on PLD shares. Citigroup set a $86.00 price objective on Prologis and gave the stock a “buy” rating in a report on Thursday, June 6th. BMO Capital Markets reaffirmed a “buy” rating and issued a $85.00 price target on shares of Prologis in a research note on Wednesday, July 17th. Deutsche Bank upped their price target on Prologis from $74.00 to $82.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Zacks Investment Research cut Prologis from a “buy” rating to a “hold” rating in a research note on Thursday, May 16th. Finally, Goldman Sachs Group assumed coverage on Prologis in a research note on Wednesday, May 15th. They issued a “conviction-buy” rating for the company. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $78.18.
The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.43. The stock has a market cap of $52.43 billion, a P/E ratio of 27.49, a PEG ratio of 4.44 and a beta of 1.03. The firm has a 50-day simple moving average of $81.60 and a two-hundred day simple moving average of $76.05.
In related news, CFO Thomas S. Olinger sold 13,051 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $82.25, for a total value of $1,073,444.75. Following the transaction, the chief financial officer now owns 20,667 shares in the company, valued at $1,699,860.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Eugene F. Reilly sold 12,500 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $81.72, for a total value of $1,021,500.00. Following the completion of the transaction, the insider now owns 10,685 shares in the company, valued at approximately $873,178.20. The disclosure for this sale can be found here. Insiders have sold a total of 34,551 shares of company stock worth $2,803,425 in the last quarter. Company insiders own 1.10% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of PLD. Cornerstone Advisors Inc. boosted its stake in shares of Prologis by 8.8% during the second quarter. Cornerstone Advisors Inc. now owns 1,601 shares of the real estate investment trust’s stock valued at $128,000 after purchasing an additional 130 shares in the last quarter. National Asset Management Inc. lifted its stake in shares of Prologis by 2.9% in the first quarter. National Asset Management Inc. now owns 4,853 shares of the real estate investment trust’s stock worth $351,000 after acquiring an additional 135 shares during the period. Avitas Wealth Management LLC lifted its stake in shares of Prologis by 0.3% in the first quarter. Avitas Wealth Management LLC now owns 40,105 shares of the real estate investment trust’s stock worth $2,886,000 after acquiring an additional 138 shares during the period. Exane Derivatives lifted its stake in shares of Prologis by 18.8% in the second quarter. Exane Derivatives now owns 968 shares of the real estate investment trust’s stock worth $78,000 after acquiring an additional 153 shares during the period. Finally, Ashfield Capital Partners LLC lifted its stake in shares of Prologis by 1.8% in the first quarter. Ashfield Capital Partners LLC now owns 8,550 shares of the real estate investment trust’s stock worth $615,000 after acquiring an additional 155 shares during the period. Institutional investors own 95.55% of the company’s stock.
Prologis Company Profile (NYSE:PLD)
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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