Short Interest in Prologis Inc (NYSE:PLD) Rises By 20.7%

Prologis Inc (NYSE:PLD) saw a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 16,650,000 shares, a growth of 20.7% from the December 15th total of 13,790,000 shares. Based on an average daily volume of 2,770,000 shares, the days-to-cover ratio is presently 6.0 days. Currently, 2.7% of the company’s stock are sold short.

Several equities research analysts have issued reports on the company. Edward Jones downgraded Prologis from a “buy” rating to a “hold” rating in a report on Thursday, December 19th. SunTrust Banks lifted their price objective on Prologis from $89.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, October 18th. BTIG Research lifted their price objective on Prologis from to and gave the stock a “buy” rating in a report on Monday, January 6th. Stifel Nicolaus set a $95.00 price objective on Prologis and gave the stock a “buy” rating in a report on Tuesday, October 15th. Finally, Deutsche Bank lifted their price objective on Prologis from $82.00 to $87.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $91.32.

Several hedge funds and other institutional investors have recently modified their holdings of PLD. Sandy Spring Bank acquired a new position in Prologis during the 3rd quarter valued at approximately $33,000. Prestige Wealth Management Group LLC acquired a new position in Prologis during the 2nd quarter valued at approximately $39,000. HM Payson & Co. acquired a new position in Prologis during the 2nd quarter valued at approximately $43,000. Covington Capital Management boosted its position in Prologis by 57.2% during the 3rd quarter. Covington Capital Management now owns 503 shares of the real estate investment trust’s stock valued at $43,000 after purchasing an additional 183 shares during the period. Finally, Marshall Wace LLP acquired a new position in Prologis during the 1st quarter valued at approximately $57,000. Institutional investors and hedge funds own 95.06% of the company’s stock.

Shares of NYSE PLD traded down $1.17 during trading on Tuesday, reaching $90.63. The stock had a trading volume of 3,124,509 shares, compared to its average volume of 2,238,590. Prologis has a one year low of $62.44 and a one year high of $92.80. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.27 and a current ratio of 1.27. The stock has a market cap of $56.50 billion, a PE ratio of 29.91, a P/E/G ratio of 3.99 and a beta of 0.98. The firm’s 50 day moving average price is $89.57 and its two-hundred day moving average price is $85.85.

Prologis (NYSE:PLD) last issued its quarterly earnings results on Tuesday, October 15th. The real estate investment trust reported $0.71 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.23. Prologis had a return on equity of 6.92% and a net margin of 53.87%. The business had revenue of $712.00 million during the quarter, compared to the consensus estimate of $715.40 million. During the same period in the previous year, the business earned $0.72 EPS. The business’s quarterly revenue was up 16.5% on a year-over-year basis. On average, research analysts expect that Prologis will post 3.3 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Thursday, December 19th were issued a $0.53 dividend. The ex-dividend date was Wednesday, December 18th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.34%. Prologis’s dividend payout ratio (DPR) is 69.97%.

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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