Trade Report: Today: Robert W. Baird Upgraded Prologis Inc. (PLD) to Outperform

Today: Robert W. Baird Upgraded Prologis Inc. (PLD) to Outperform

Prologis Inc. (NYSE:PLD) was upgraded by stock analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating in a note issued to investors on Monday. The brokerage currently has a $55.00 price objective on the stock. Robert W. Baird’s target price would suggest a potential upside of 10.66% from the company’s current price.

Other equities research analysts also recently issued research reports about the company. Zacks Investment Research upgraded Prologis from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a report on Thursday, November 17th. Cantor Fitzgerald set a $55.00 price objective on Prologis and gave the company a “buy” rating in a report on Thursday, November 10th. BTIG Research started coverage on Prologis in a report on Thursday, August 25th. They set a “buy” rating and a $60.00 price objective for the company. Morgan Stanley set a $58.00 price objective on Prologis and gave the company a “buy” rating in a report on Tuesday, September 6th. Finally, Evercore ISI upgraded Prologis from a “hold” rating to a “buy” rating and set a $56.00 price objective for the company in a report on Tuesday, October 18th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $51.36.

Shares of Prologis (NYSE:PLD) opened at 49.70 on Monday. The company has a 50-day moving average price of $50.18 and a 200-day moving average price of $50.91. The company has a market cap of $26.27 billion, a PE ratio of 29.69 and a beta of 1.15. Prologis has a 1-year low of $35.25 and a 1-year high of $54.87.

Prologis (NYSE:PLD) last issued its earnings results on Thursday, October 20th. The company reported $0.73 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.03. The business earned $705 million during the quarter, compared to the consensus estimate of $221.07 million. Prologis had a return on equity of 4.86% and a net margin of 34.73%. The firm’s revenue for the quarter was up 21.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.58 earnings per share. Equities research analysts expect that Prologis will post ($0.27) earnings per share for the current fiscal year.

A number of hedge funds have recently modified their holdings of PLD. Evercore Wealth Management LLC boosted its stake in shares of Prologis by 7.6% in the second quarter. Evercore Wealth Management LLC now owns 2,065 shares of the company’s stock worth $101,000 after buying an additional 145 shares during the period. Solaris Asset Management LLC bought a new stake in shares of Prologis during the third quarter worth about $131,000. Global X Management Co. LLC boosted its stake in shares of Prologis by 63.4% in the second quarter. Global X Management Co. LLC now owns 2,852 shares of the company’s stock worth $140,000 after buying an additional 1,107 shares during the period. Creative Planning boosted its stake in shares of Prologis by 12.7% in the second quarter. Creative Planning now owns 2,889 shares of the company’s stock worth $142,000 after buying an additional 325 shares during the period. Finally, Tower Research Capital LLC TRC bought a new stake in shares of Prologis during the second quarter worth about $149,000. 99.13% of the stock is currently owned by institutional investors and hedge funds.

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