Prologis Target of Unusually High Options Trading (NYSE:PLD)

Prologis, Inc. (NYSE:PLD) was the recipient of some unusual options trading activity on Monday. Stock traders bought 3,227 call options on the stock. This represents an increase of 120% compared to the typical daily volume of 1,466 call options.

A number of institutional investors and hedge funds have recently bought and sold shares of PLD. Glassman Wealth Services lifted its position in Prologis by 92.7% during the second quarter. Glassman Wealth Services now owns 264 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 127 shares during the period. Knuff & Co LLC lifted its holdings in shares of Prologis by 191.3% in the second quarter. Knuff & Co LLC now owns 300 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 197 shares during the last quarter. Hoey Investments Inc. lifted its holdings in shares of Prologis by 62.5% in the second quarter. Hoey Investments Inc. now owns 325 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 125 shares during the last quarter. Tarbox Family Office Inc. lifted its holdings in shares of Prologis by 159.8% in the second quarter. Tarbox Family Office Inc. now owns 343 shares of the real estate investment trust’s stock worth $32,000 after acquiring an additional 211 shares during the last quarter. Finally, Costello Asset Management INC bought a new position in shares of Prologis in the second quarter worth about $36,000. 94.75% of the stock is owned by institutional investors and hedge funds.

PLD traded down $3.09 on Monday, hitting $100.15. 34,177 shares of the stock were exchanged, compared to its average volume of 3,635,494. Prologis has a 12 month low of $59.82 and a 12 month high of $109.11. The business has a 50-day moving average of $101.95 and a two-hundred day moving average of $96.18. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.48 and a quick ratio of 0.48. The firm has a market capitalization of $76.27 billion, a price-to-earnings ratio of 45.88, a PEG ratio of 3.60 and a beta of 0.90.

Prologis (NYSE:PLD) last posted its quarterly earnings data on Tuesday, October 20th. The real estate investment trust reported $0.40 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.88 by ($0.48). Prologis had a return on equity of 5.55% and a net margin of 43.27%. The firm had revenue of $984.00 million for the quarter, compared to the consensus estimate of $955.32 million. During the same period in the prior year, the company earned $0.97 EPS. The company’s revenue for the quarter was up 38.2% compared to the same quarter last year. Equities research analysts expect that Prologis will post 3.7 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Thursday, September 17th were given a dividend of $0.58 per share. The ex-dividend date of this dividend was Wednesday, September 16th. This represents a $2.32 annualized dividend and a yield of 2.32%. Prologis’s dividend payout ratio is 70.09%.

PLD has been the topic of several research reports. Jefferies Financial Group upped their price objective on shares of Prologis from $105.00 to $115.00 and gave the company a “buy” rating in a report on Monday, July 27th. Wells Fargo & Company upped their price objective on shares of Prologis from $110.00 to $115.00 and gave the company an “overweight” rating in a report on Tuesday, July 28th. Citigroup upped their price objective on shares of Prologis from $93.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, August 13th. UBS Group initiated coverage on shares of Prologis in a report on Friday, October 16th. They issued a “buy” rating and a $126.00 price objective on the stock. Finally, Royal Bank of Canada upped their price objective on shares of Prologis from $102.00 to $108.00 and gave the company an “outperform” rating in a report on Tuesday, July 28th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $106.67.

Prologis Company Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high growth markets. As of March 31, 2020, 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 965 million square feet (90 million square meters) in 19 countries.

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