Prologis, Inc. (NYSE:PLD) Director Avid Modjtabai Buys 15,000 Shares

Prologis, Inc. (NYSE:PLDGet Rating) Director Avid Modjtabai purchased 15,000 shares of the stock in a transaction dated Friday, May 20th. The shares were acquired at an average price of $118.65 per share, with a total value of $1,779,750.00. Following the completion of the acquisition, the director now owns 15,000 shares in the company, valued at approximately $1,779,750. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

PLD stock remained flat at $$119.72 during mid-day trading on Friday. The company’s stock had a trading volume of 5,131,375 shares, compared to its average volume of 3,597,033. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.59 and a quick ratio of 1.59. The company has a market cap of $88.62 billion, a P/E ratio of 23.99, a price-to-earnings-growth ratio of 2.37 and a beta of 0.82. The company has a fifty day moving average of $154.27 and a two-hundred day moving average of $153.57. Prologis, Inc. has a 52 week low of $116.71 and a 52 week high of $174.54.

Prologis (NYSE:PLDGet Rating) last posted its quarterly earnings results on Tuesday, April 19th. The real estate investment trust reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.99. Prologis had a return on equity of 9.98% and a net margin of 77.08%. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same quarter last year, the company earned $0.97 EPS. Prologis’s revenue for the quarter was up 5.4% compared to the same quarter last year. Sell-side analysts predict that Prologis, Inc. will post 5.15 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 30th. Stockholders of record on Thursday, June 16th will be given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 2.64%. The ex-dividend date of this dividend is Wednesday, June 15th. Prologis’s dividend payout ratio (DPR) is presently 63.33%.

A number of equities analysts have recently weighed in on the company. Wells Fargo & Company increased their price target on Prologis from $172.00 to $184.00 in a report on Thursday, April 28th. Barclays raised their target price on Prologis from $171.00 to $190.00 and gave the company an “overweight” rating in a report on Thursday, April 21st. Robert W. Baird raised their target price on Prologis from $152.00 to $175.00 in a report on Wednesday, April 20th. The Goldman Sachs Group raised their target price on Prologis from $184.00 to $209.00 in a report on Friday, January 21st. Finally, Raymond James raised their target price on Prologis from $180.00 to $190.00 and gave the company a “strong-buy” rating in a report on Monday, April 25th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $175.42.

Several hedge funds and other institutional investors have recently modified their holdings of PLD. MV Capital Management Inc. raised its position in shares of Prologis by 64.8% during the 3rd quarter. MV Capital Management Inc. now owns 201 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 79 shares in the last quarter. Retirement Planning Co of New England Inc. acquired a new stake in shares of Prologis during the 4th quarter worth about $25,000. American National Bank acquired a new stake in shares of Prologis during the 1st quarter worth about $26,000. William Allan LLC acquired a new stake in shares of Prologis during the 4th quarter worth about $27,000. Finally, Richwood Investment Advisors LLC acquired a new position in Prologis during the fourth quarter worth approximately $27,000. 93.53% of the stock is currently owned by institutional investors and hedge funds.

About Prologis (Get Rating)

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of December 31, 2020, 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 984 million square feet (91 million square meters) in 19 countries.

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