Prologis (NYSE:PLD) Reaches New 12-Month High at $79.36

Prologis Inc (NYSE:PLD) hit a new 52-week high during trading on Thursday . The stock traded as high as $79.36 and last traded at $79.32, with a volume of 6587 shares. The stock had previously closed at $78.81.

PLD has been the topic of several analyst reports. Citigroup set a $86.00 price target on shares of Prologis and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Zacks Investment Research raised shares of Prologis from a “hold” rating to a “buy” rating and set a $84.00 price target on the stock in a research report on Friday, April 26th. KeyCorp set a $79.00 price target on shares of Prologis and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. BMO Capital Markets reissued a “buy” rating and set a $70.00 price target on shares of Prologis in a research report on Sunday, April 21st. Finally, Barclays reissued a “buy” rating on shares of Prologis in a research report on Thursday, February 21st. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $74.46.

The company has a market cap of $49.73 billion, a P/E ratio of 26.20, a PEG ratio of 4.38 and a beta of 1.01. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.36 and a current ratio of 0.36.

Prologis (NYSE:PLD) last announced its quarterly earnings results on Tuesday, April 16th. The real estate investment trust reported $0.73 EPS for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.01. Prologis had a net margin of 56.56% and a return on equity of 6.83%. The business had revenue of $696.80 million for the quarter, compared to analyst estimates of $687.21 million. During the same quarter in the prior year, the business earned $0.80 EPS. Prologis’s quarterly revenue was up 25.3% on a year-over-year basis. Equities research analysts expect that Prologis Inc will post 3.22 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Thursday, June 13th will be paid a $0.53 dividend. The ex-dividend date is Wednesday, June 12th. This represents a $2.12 dividend on an annualized basis and a yield of 2.66%. Prologis’s dividend payout ratio (DPR) is currently 69.97%.

In other Prologis news, Director Philip L. Hawkins sold 9,000 shares of the stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $78.72, for a total transaction of $708,480.00. Following the transaction, the director now owns 35,511 shares in the company, valued at approximately $2,795,425.92. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Edward S. Nekritz sold 16,059 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $71.86, for a total transaction of $1,153,999.74. Following the transaction, the insider now owns 51,792 shares in the company, valued at approximately $3,721,773.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 55,730 shares of company stock worth $4,163,111. 1.10% of the stock is owned by company insiders.

Several large investors have recently made changes to their positions in the business. Berman Capital Advisors LLC boosted its position in shares of Prologis by 105.3% during the 1st quarter. Berman Capital Advisors LLC now owns 388 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 199 shares in the last quarter. Cresset Asset Management LLC bought a new position in Prologis in the 1st quarter valued at approximately $29,000. Thor Advisors LLC bought a new position in Prologis in the 1st quarter valued at approximately $37,000. Benjamin F. Edwards & Company Inc. lifted its stake in Prologis by 134.5% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 523 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 300 shares during the last quarter. Finally, PRW Wealth Management LLC bought a new position in Prologis in the 4th quarter valued at approximately $33,000. Hedge funds and other institutional investors own 95.46% of the company’s stock.

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About Prologis (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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