Prologis Inc. (NYSE:PLD) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Friday.
According to Zacks, “Prologis’ funds from operations (FFO) per share estimates for the current quarter and full-year 2016 have been stable for the past seven days. Amid a consistent shift toward e-commerce and supply chain strategy transformations, the company is well poised to benefit from its capacity to offer modern distribution facilities in strategic infill locations. In fact, the company’s occupancy and leasing volumes remained high in third-quarter 2016. It witnessed broad-based demand across customer segments, driven by e-commerce, automotive, consumer products and construction supplies. Also, Prologis remains focused on bolstering its liquidity, which is encouraging. Nevertheless, rising number of new facilities, competitive landscape and any further hike in interest rates are the company’s chief concerns.”
PLD has been the topic of several other research reports. Wells Fargo & Co. reaffirmed a “neutral” rating on shares of Prologis in a research note on Sunday, September 4th. Capital One Financial Corp. raised Prologis from an “underweight” rating to an “equal weight” rating and set a $53.00 price target on the stock in a research note on Monday, October 17th. Evercore ISI raised Prologis from a “hold” rating to a “buy” rating and set a $56.00 price target on the stock in a research note on Tuesday, October 18th. BTIG Research started coverage on Prologis in a research note on Thursday, August 25th. They issued a “buy” rating and a $60.00 price target on the stock. Finally, Morgan Stanley set a $58.00 price target on Prologis and gave the company a “buy” rating in a research note on Tuesday, September 6th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $51.31.
Shares of Prologis (NYSE:PLD) traded down 0.02% on Friday, reaching $49.70. The company had a trading volume of 1,185,682 shares. The company has a 50-day moving average price of $50.21 and a 200-day moving average price of $50.90. The firm has a market cap of $26.27 billion, a P/E ratio of 29.69 and a beta of 1.15. Prologis has a one year low of $35.25 and a one year high of $54.87.
Prologis (NYSE:PLD) last announced its quarterly earnings results on Thursday, October 20th. The company reported $0.73 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.03. The business had revenue of $705 million for the quarter, compared to analyst estimates of $221.07 million. Prologis had a return on equity of 4.86% and a net margin of 34.73%. Prologis’s quarterly revenue was up 21.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.58 EPS. On average, analysts expect that Prologis will post ($0.27) earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. HighPoint Advisor Group LLC acquired a new position in Prologis during the third quarter worth about $205,000. Ameritas Investment Partners Inc. boosted its position in Prologis by 171.5% in the third quarter. Ameritas Investment Partners Inc. now owns 28,198 shares of the company’s stock worth $1,509,000 after buying an additional 17,812 shares during the last quarter. Barings Real Estate Advisers LLC boosted its position in Prologis by 107.3% in the third quarter. Barings Real Estate Advisers LLC now owns 392,646 shares of the company’s stock worth $21,022,000 after buying an additional 203,210 shares during the last quarter. Candriam Luxembourg S.C.A. boosted its position in Prologis by 23.2% in the third quarter. Candriam Luxembourg S.C.A. now owns 26,635 shares of the company’s stock worth $1,426,000 after buying an additional 5,010 shares during the last quarter. Finally, Eaton Vance Management boosted its position in Prologis by 30.5% in the third quarter. Eaton Vance Management now owns 51,493 shares of the company’s stock worth $2,757,000 after buying an additional 12,037 shares during the last quarter. 98.90% of the stock is owned by hedge funds and other institutional investors.
Prologis Company Profile
Prologis, Inc is engaged in logistics real estate business, focused on markets across the Americas, Europe and Asia. The Company owns or has investments in, on a basis or through co-investment ventures, properties and development projects in over 20 countries. Its segments include Real Estate Operations and Strategic Capital.