Prologis Inc (PLD) was Downgraded by Credit Suisse to ” Neutral”. Earlier the firm had a rating of “Outperform ” on the company shares. Credit Suisse advised their investors in a research report released on Jul 20, 2016.
Many Wall Street Analysts have commented on Prologis Inc. UBS Downgraded Prologis Inc on Jul 1, 2016 to ” Neutral”, Price Target of the shares are set at $48.Prologis Inc was Downgraded by SunTrust to ” Neutral” on Jun 30, 2016. Company shares were Downgraded by Deutsche Bank on Jun 21, 2016 to ” Hold”, Firm has raised the Price Target to $ 50 from a previous price target of $48 .
On the company’s financial health, Prologis Inc reported $0.60 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jul 19, 2016. Analyst had a consensus of $0.59. The company had revenue of $602.00 million for the quarter, compared to analysts expectations of $551.29 million. The company’s revenue was up 18.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.52 EPS.
Prologis Inc opened for trading at $51.33 and hit $51.66 on the upside on Monday, eventually ending the session at $51.62, with a gain of 0.56% or 0.29 points. The heightened volatility saw the trading volume jump to 35,54,346 shares. Company has a market cap of $27,119 M.
In a different news, on Jul 19, 2016, Hamid R Moghadam (Chairman & CEO) sold 349,668 shares at $51.14 per share price. According to the SEC, on Jun 20, 2016, Edward S Nekritz (Chief Legal Off./Gen. Counsel) sold 5,675 shares at $50.20 per share price. On May 13, 2016, J Michael Losh (director) sold 14,380 shares at $46.97 per share price, according to the Form-4 filing with the securities and exchange commission.
Prologis Inc. is engaged in industrial logistics real estate focused on markets across the Americas Europe and Asia. The Company leases modern distribution facilities to more than 4700 customers including third-party logistics providers transportation companies retailers and manufacturers. The Company’s business consists of two operating segments: Real Estate Operations and Strategic Capital. The Company’s customer base represents a spectrum of international national regional and local distribution users. As of December 31 2014 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 590 million square feet (55 million square meters) in 21 countries.