Prologis (NYSE:PLD) Given New $108.00 Price Target at Royal Bank of Canada

Prologis (NYSE:PLD) had its price target increased by Royal Bank of Canada from $102.00 to $108.00 in a report issued on Tuesday, BenzingaRatingsTable reports. The firm currently has an outperform rating on the real estate investment trust’s stock.

Other research analysts have also issued reports about the stock. Deutsche Bank lowered their target price on shares of Prologis from $96.00 to $90.00 and set a buy rating on the stock in a research note on Friday, April 24th. JPMorgan Chase & Co. lowered their target price on shares of Prologis from $100.00 to $98.00 and set an overweight rating on the stock in a research note on Tuesday, April 28th. Stifel Nicolaus raised their target price on shares of Prologis from $76.00 to $85.00 and gave the company a buy rating in a research note on Monday, April 6th. BMO Capital Markets started coverage on shares of Prologis in a research note on Wednesday, July 22nd. They issued a buy rating and a $111.00 target price on the stock. Finally, Citigroup reduced their price target on shares of Prologis from $105.00 to $89.00 and set a buy rating for the company in a report on Tuesday, April 7th. Three research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $98.38.

Shares of PLD opened at $105.42 on Tuesday. The company’s fifty day moving average is $95.14 and its 200-day moving average is $89.67. Prologis has a 12 month low of $59.82 and a 12 month high of $106.73. The firm has a market cap of $77.88 billion, a price-to-earnings ratio of 41.18, a price-to-earnings-growth ratio of 3.68 and a beta of 0.94. The company has a quick ratio of 0.91, a current ratio of 0.48 and a debt-to-equity ratio of 0.43.

Prologis (NYSE:PLD) last posted its earnings results on Tuesday, July 21st. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.08. Prologis had a net margin of 43.27% and a return on equity of 5.55%. The business had revenue of $945.00 million for the quarter, compared to analyst estimates of $921.45 million. During the same period last year, the business posted $0.77 EPS. Prologis’s revenue was up 34.8% compared to the same quarter last year. As a group, research analysts predict that Prologis will post 3.72 earnings per share for the current fiscal year.

In related news, Director George L. Fotiades sold 1,339 shares of the business’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $96.38, for a total transaction of $129,052.82. Following the transaction, the director now directly owns 22,710 shares in the company, valued at $2,188,789.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.93% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. HMS Capital Management LLC bought a new stake in shares of Prologis in the 2nd quarter valued at approximately $490,000. Hotaling Investment Management LLC grew its stake in shares of Prologis by 3.7% in the 2nd quarter. Hotaling Investment Management LLC now owns 20,231 shares of the real estate investment trust’s stock valued at $1,888,000 after purchasing an additional 721 shares during the period. Lincoln National Corp grew its stake in shares of Prologis by 42.9% in the 2nd quarter. Lincoln National Corp now owns 9,371 shares of the real estate investment trust’s stock valued at $875,000 after purchasing an additional 2,814 shares during the period. Opus Capital Group LLC grew its stake in shares of Prologis by 18.3% in the 2nd quarter. Opus Capital Group LLC now owns 3,266 shares of the real estate investment trust’s stock valued at $305,000 after purchasing an additional 506 shares during the period. Finally, Alley Co LLC grew its stake in shares of Prologis by 43.8% in the 2nd quarter. Alley Co LLC now owns 316,137 shares of the real estate investment trust’s stock valued at $29,505,000 after purchasing an additional 96,322 shares during the period. Institutional investors own 94.79% of the company’s stock.

About Prologis

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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