Oppenheimer Believes PLD Won’t Stop Here

By Jason Carr

Oppenheimer analyst Steve Manaker assigned a Buy rating to Prologis (NYSE: PLD) yesterday and set a price target of $57. The company’s shares closed yesterday at $52.16, close to its 52-week high of $54.87.

According to TipRanks.com, Manaker is a top 100 analyst with an average return of 14.1% and a 76.2% success rate. Manaker covers the Financial sector, focusing on stocks such as Preferred Apartment Communities, Bluerock Residential Growth, and National Retail Properties.

Currently, the analyst consensus on Prologis is Moderate Buy and the average price target is $57.67, representing a 10.6% upside.

In a report issued on October 18, Evercore ISI also upgraded the stock to Buy with a $56 price target.

Prologis’ market cap is currently $27.46B and has a P/E ratio of 31.42. The company has a book value ratio of 1.8765.

Based on the recent corporate insider activity of 26 insiders, corporate insider sentiment is negative on the stock. Most recently, in August 2016, Gary E. Anderson, the CEO, Europe and Asia of PLD sold 33,043 shares for a total of $1,793,574.

Prologis, Inc. is a real estate investment trust, which engages in the provision of real estate logistics. It operates through the Real Estate Operations and Strategic Capital segments. The Real Estate Operations segment includes the Rental Operations and Capital Deployment activities. The Rental Operations includes collection of rent from their customers under operating leases, including reimbursements for the vast majority of its operating costs. The Capital Deployment activities include includes the development, redevelopment and acquisition of industrial properties. The Strategic Capital segment manages third-party capital on behalf of institutional partners. The company was founded in 1991 and is headquartered in San Francisco, CA.