Prologis (NYSE:PLD) Upgraded to “Outperform” by Wells Fargo & Co

Prologis (NYSE:PLD) was upgraded by Wells Fargo & Co from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Friday, MarketBeat.com reports. The firm currently has a $100.00 price target on the real estate investment trust’s stock. Wells Fargo & Co‘s price objective suggests a potential upside of 9.67% from the stock’s current price.

Several other analysts also recently issued reports on PLD. Stifel Nicolaus set a $95.00 target price on shares of Prologis and gave the company a “buy” rating in a research note on Tuesday, October 15th. Evercore ISI raised Prologis from an “in-line” rating to an “outperform” rating in a research report on Wednesday, November 6th. Royal Bank of Canada set a $96.00 target price on Prologis and gave the stock a “buy” rating in a research report on Friday, October 18th. SunTrust Banks upped their price target on Prologis from $89.00 to $95.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Finally, Deutsche Bank increased their price objective on Prologis from $82.00 to $87.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $89.27.

Shares of PLD traded down $0.20 during midday trading on Friday, hitting $91.18. The stock had a trading volume of 174,151 shares, compared to its average volume of 2,490,554. The business has a 50-day simple moving average of $89.68 and a two-hundred day simple moving average of $83.86. The firm has a market cap of $57.76 billion, a P/E ratio of 30.09, a price-to-earnings-growth ratio of 4.94 and a beta of 1.00. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.44. Prologis has a fifty-two week low of $55.21 and a fifty-two week high of $92.80.

Prologis (NYSE:PLD) last released its quarterly earnings results on Tuesday, October 15th. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.23. The business had revenue of $712.00 million for the quarter, compared to analyst estimates of $715.40 million. Prologis had a net margin of 53.87% and a return on equity of 6.92%. The firm’s revenue was up 16.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.72 earnings per share. On average, analysts expect that Prologis will post 3.31 earnings per share for the current fiscal year.

Several large investors have recently made changes to their positions in PLD. Vanguard Group Inc. raised its stake in shares of Prologis by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 82,772,891 shares of the real estate investment trust’s stock worth $6,630,109,000 after purchasing an additional 307,216 shares in the last quarter. State Street Corp lifted its stake in Prologis by 1.3% in the third quarter. State Street Corp now owns 43,899,288 shares of the real estate investment trust’s stock valued at $3,741,097,000 after acquiring an additional 571,305 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Prologis by 22.6% in the second quarter. Price T Rowe Associates Inc. MD now owns 20,391,209 shares of the real estate investment trust’s stock worth $1,633,336,000 after acquiring an additional 3,763,203 shares in the last quarter. Invesco Ltd. grew its position in Prologis by 52.6% in the second quarter. Invesco Ltd. now owns 16,686,890 shares of the real estate investment trust’s stock worth $1,336,620,000 after acquiring an additional 5,752,196 shares in the last quarter. Finally, Northern Trust Corp increased its stake in shares of Prologis by 3.7% during the 2nd quarter. Northern Trust Corp now owns 11,252,225 shares of the real estate investment trust’s stock worth $901,303,000 after purchasing an additional 397,397 shares during the last quarter. Institutional investors and hedge funds own 95.29% of the company’s stock.

Prologis Company Profile

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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