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.
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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