Prologis (NYSE:PLD) PT Raised to $166.00

Prologis (NYSE:PLD) had its price target lifted by The Goldman Sachs Group from $148.00 to $166.00 in a report published on Thursday, Analyst Ratings Network reports. The Goldman Sachs Group currently has a buy rating on the real estate investment trust’s stock.

PLD has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Prologis from $126.00 to $150.00 and gave the company a buy rating in a report on Wednesday, August 18th. Raymond James raised their price objective on shares of Prologis from $138.00 to $143.00 and gave the company a strong-buy rating in a report on Wednesday, July 21st. Royal Bank of Canada raised their price objective on shares of Prologis from $130.00 to $144.00 and gave the company an outperform rating in a report on Tuesday, August 3rd. Wells Fargo & Company raised their price objective on shares of Prologis from $135.00 to $140.00 and gave the company an overweight rating in a report on Thursday, July 29th. Finally, Wolfe Research began coverage on shares of Prologis in a report on Monday, June 14th. They issued a peer perform rating and a $133.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of Buy and a consensus target price of $137.13.

Shares of PLD stock opened at $132.58 on Thursday. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 0.47. Prologis has a 52 week low of $93.08 and a 52 week high of $139.60. The stock has a market capitalization of $98.01 billion, a PE ratio of 63.74, a P/E/G ratio of 4.47 and a beta of 0.72. The firm has a 50 day moving average of $131.13 and a two-hundred day moving average of $119.54.

Prologis (NYSE:PLD) last issued its quarterly earnings results on Sunday, July 18th. The real estate investment trust reported $0.81 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.37. Prologis had a net margin of 34.54% and a return on equity of 4.27%. The company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter last year, the company posted $1.11 EPS. The firm’s revenue was up 21.8% compared to the same quarter last year. Analysts expect that Prologis will post 4.07 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 30th. Investors of record on Friday, September 17th will be paid a dividend of $0.63 per share. The ex-dividend date is Thursday, September 16th. This represents a $2.52 annualized dividend and a yield of 1.90%. Prologis’s dividend payout ratio is currently 66.32%.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Intrua Financial LLC increased its stake in Prologis by 1.5% in the second quarter. Intrua Financial LLC now owns 5,354 shares of the real estate investment trust’s stock valued at $690,000 after purchasing an additional 77 shares during the period. Harrington Investments INC boosted its holdings in shares of Prologis by 0.5% in the second quarter. Harrington Investments INC now owns 14,697 shares of the real estate investment trust’s stock valued at $1,757,000 after acquiring an additional 79 shares in the last quarter. Douglas Lane & Associates LLC boosted its holdings in shares of Prologis by 1.6% in the second quarter. Douglas Lane & Associates LLC now owns 5,010 shares of the real estate investment trust’s stock valued at $599,000 after acquiring an additional 81 shares in the last quarter. Venturi Wealth Management LLC boosted its holdings in shares of Prologis by 1.3% in the second quarter. Venturi Wealth Management LLC now owns 6,932 shares of the real estate investment trust’s stock valued at $829,000 after acquiring an additional 90 shares in the last quarter. Finally, Savant Capital LLC boosted its holdings in shares of Prologis by 2.5% in the second quarter. Savant Capital LLC now owns 3,791 shares of the real estate investment trust’s stock valued at $453,000 after acquiring an additional 91 shares in the last quarter. Institutional investors own 93.04% of the company’s stock.

About Prologis

Prologis, Inc engages in the provision of real estate investment trust services. It operates through Real Estate Operations and Strategic Capital segments. The Real Estate Operations segment represents the ownership and development of logistics properties and also includes rental revenues, recoveries and expenses recognized from its consolidated properties.

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Analyst Recommendations for Prologis (NYSE:PLD)

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