Prologis Inc (PLD) was Downgraded by Robert W. Baird to ” Neutral” according to the research note released today. The brokerage firm has raised the Price Target to $ 54 from a previous price target of $52 . Earlier the firm had a rating of “Outperform ” on the company shares. Robert W. Baird advised their investors in a research report released on Aug 17, 2016.
Many Wall Street Analysts have commented on Prologis Inc. Prologis Inc was Downgraded by CapitalOne to ” Underweight” on Aug 8, 2016. Company shares were Reiterated by RBC Capital Mkts on Jul 26, 2016 to “Outperform”, Firm has raised the Price Target to $ 55 from a previous price target of $48 .Prologis Inc was Downgraded by Credit Suisse to ” Neutral” on Jul 20, 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 -0.18 points or -0.33% at $54.17 with 18,00,739 shares getting traded on Monday. Post opening the session at $54.37, the shares hit an intraday low of $54.06 and an intraday high of $54.54 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
In a different news, on Aug 15, 2016, Gary E Anderson (CEO, Europe and Asia) sold 33,043 shares at $54.28 per share price. According to the SEC, on Aug 1, 2016, Hamid R Moghadam (Chairman & CEO) sold 446,991 shares at $54.35 per share price. On Jun 20, 2016, Edward S Nekritz (Chief Legal Off./Gen. Counsel) sold 5,675 shares at $50.20 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.