ProLogis (PLD) Shares are Down -1.9%

ProLogis (PLD) has risen sharply, recording gains of 1.43% in the past 4 weeks. However, the stock has corrected -1.9% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 1.04% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.

Prologis, Inc. is up 14.81% in the last 3-month period. Year-to-Date the stock performance stands at 26.55%. The stock has recorded a 20-day Moving Average of 0.91% and the 50-Day Moving Average is 3.65%.


ProLogis (NYSE:PLD): The stock opened at $53.39 on Friday but the bulls could not build on the opening and the stock topped out at $53.42 for the day. The stock traded down to $52.99 during the day, due to lack of any buying support eventually closed down at $53.32 with a loss of -0.19% for the day. The stock had closed at $53.42 on the previous day. The total traded volume was 2,120,142 shares.

Also, Equity Analysts at the Capital One Financial downgrades the rating on ProLogis (NYSE:PLD). The brokerage firm has issued a Underweight rating on the shares. The shares were previously rated Equal-weight. The rating by the firm was issued on August 8, 2016.

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.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.