Prologis Inc (PLD) was Reiterated by RBC Capital Mkts to “Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 55 from a previous price target of $48 . RBC Capital Mkts advised their investors in a research report released on Jul 26, 2016.
Many Wall Street Analysts have commented on Prologis Inc. Prologis Inc was Downgraded by Credit Suisse to ” Neutral” on Jul 20, 2016. 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.
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 closed down -0.11 points or -0.21% at $51.6 with 33,74,290 shares getting traded on Wednesday. Post opening the session at $51.93, the shares hit an intraday low of $51.06 and an intraday high of $51.97 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
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.