ProLogis (NYSE:PLD) : The highest short term price target forecast on ProLogis (NYSE:PLD) is $55 and the lowest target price is $43. A total of 15 equity analysts are currently covering the company. The average price of all the analysts is $49.33 with a standard deviation of $3.15.
Prologis, Inc. has dropped 2.1% in the last five trading days, however, the shares have posted positive gains of 3.5% in the last 4 weeks. Prologis, Inc. is up 10.85% in the last 3-month period. Year-to-Date the stock performance stands at 16.39%. Also, In a research note released to the investors, Deutsche Bank downgrades its rating on ProLogis (NYSE:PLD).The analysts at the brokerage house have a current rating of Hold on the shares. Earlier, the shares were rated a Buy by the brokerage firm. In a recent information released to the investors, Deutsche Bank raises the new price target from $48 per share to $50 per share. The rating by the firm was issued on June 21, 2016.
ProLogis (NYSE:PLD) : Zacks Investment Research ranks ProLogis (NYSE:PLD) as 3, which is a Hold recommendation. 7 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. 2 other analysts are mildly bullish on the stock and favor a Buy. A total of 7 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 16 research analysts is 1.97, which indicates as a Buy.
ProLogis (NYSE:PLD): The stock opened at $49.10 on Thursday but the bulls could not build on the opening and the stock topped out at $49.16 for the day. The stock traded down to $48.22 during the day, due to lack of any buying support eventually closed down at $49.04 with a loss of -0.14% for the day. The stock had closed at $49.11 on the previous day. The total traded volume was 4,841,047 shares.
In an insider trading activity, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the officer (Chief Legal Off./Gen. Counsel) of Prologis, Inc., Nekritz Edward S had sold 5,675 shares worth of $284,885 in a transaction dated June 17, 2016. In this transaction, 5,675 shares were sold at $50.2 per share.
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 4,700 customers, including third-party logistics providers, transportation companies, retailers and manufacturers. The Companys business consists of two operating segments: Real Estate Operations and Strategic Capital. The Companys 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.