The stock of Prologis Inc (NYSE:PLD) gapped down by $0.17 today and has $48.42 target or 8.00% below today’s $52.63 share price. The 8 months technical chart setup indicates high risk for the $27.79 billion company. The gap down was reported on Oct, 4 by Barchart.com. If the $48.42 price target is reached, the company will be worth $2.22 billion less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. The stock decreased 1.70% or $0.91 on October 3, hitting $52.63. Prologis Inc (NYSE:PLD) has risen 30.66% since March 1, 2016 and is uptrending. It has outperformed by 18.44% the S&P500.
Analysts await Prologis Inc (NYSE:PLD) to report earnings on October, 18. They expect $0.70 EPS, up 20.69% or $0.12 from last year’s $0.58 per share. PLD’s profit will be $369.62 million for 18.80 P/E if the $0.70 EPS becomes a reality. After $0.60 actual EPS reported by Prologis Inc for the previous quarter, Wall Street now forecasts 16.67% EPS growth.
Prologis Inc (NYSE:PLD) Ratings Coverage
Out of 19 analysts covering Prologis (NYSE:PLD), 9 rate it a “Buy”, 1 “Sell”, while 9 “Hold”. This means 47% are positive. Prologis has been the topic of 29 analyst reports since July 22, 2015 according to StockzIntelligence Inc. Stifel Nicolaus maintained it with “Buy” rating and $47 target price in Wednesday, October 21 report. The stock of Prologis Inc (NYSE:PLD) has “Buy” rating given on Wednesday, September 9 by Stifel Nicolaus. The company was upgraded on Thursday, July 23 by Cowen & Co. The firm has “Overweight” rating by Barclays Capital given on Tuesday, July 19. The stock has “Outperform” rating given by RBC Capital Markets on Friday, February 5. UBS downgraded the shares of PLD in a report on Friday, July 1 to “Neutral” rating. As per Friday, September 4, the company rating was downgraded by TheStreet. The company was maintained on Wednesday, January 27 by Stifel Nicolaus. As per Monday, December 14, the company rating was downgraded by Goldman Sachs. The rating was upgraded by Robert W. Baird to “Outperform” on Wednesday, July 22.
According to Zacks Investment Research, “Prologis Incorporation is engaged in the acquisition, development, and operation of industrial properties in North America, Europe, and Asia. The Company had been formed after the merger of AMB Property Corporation and Prologis. Prologis Incorporation is headquartered in San Francisco, California.”
Insitutional Activity: The institutional sentiment decreased to 1.01 in 2016 Q2. Its down 0.25, from 1.26 in 2016Q1. The ratio dropped, as 35 funds sold all Prologis Inc shares owned while 174 reduced positions. 56 funds bought stakes while 155 increased positions. They now own 520.80 million shares or 0.92% more from 516.05 million shares in 2016Q1.
Stifel Fincl Corporation has 76,514 shares for 0.02% of their US portfolio. Chevy Chase Tru reported 448,796 shares or 0.12% of all its holdings. Quantbot Technology Limited Partnership last reported 1.28% of its portfolio in the stock. Winslow Evans Crocker Inc accumulated 0% or 446 shares. Dnb Asset Management As, a Norway-based fund reported 53,598 shares. Counsel Port Svcs last reported 0.22% of its portfolio in the stock. Cohen & Steers holds 31.18 million shares or 3.98% of its portfolio. Teacher Retirement Sys Of Texas reported 419,208 shares or 0.14% of all its holdings. Natl Bank Of Nova Scotia accumulated 10,484 shares or 0% of the stock. Muzinich &, a New York-based fund reported 3,591 shares. Everence Capital Management Incorporated has invested 0.17% of its portfolio in Prologis Inc (NYSE:PLD). Raymond James Tru Na, a Florida-based fund reported 25,917 shares. Ubs Asset Management Americas has 0.12% invested in the company for 2.15M shares. Pggm, a Netherlands-based fund reported 7.63 million shares. Bridgewater Assoc Lp, a Connecticut-based fund reported 7,900 shares.
More news for Prologis Inc (NYSE:PLD) were recently published by: Twst.com, which released: “ProLogis Inc.: Prologis to Announce Third Quarter 2016 Results October 20” on September 30, 2016. Prnewswire.com‘s article titled: “Prologis Declares Quarterly Dividends” and published on September 08, 2016 is yet another important article.
PLD Company Profile
Prologis, Inc., incorporated on November 24, 1997, is engaged in logistics real estate business, focused on markets across the Americas, Europe and Asia. The Firm owns or has investments in, on a basis or through co-investment ventures, properties and development projects in over 20 countries. The Company’s operating divisions include Real Estate Operations and Strategic Capital. The Firm leases distribution facilities to over 5,200 clients across two categories, which include business-to-business and retail/online fulfillment. For business-to-business enterprises, its buildings serve a range of sectors, including automotive, transportation, pharmaceuticals and general consumer goods. In the area of retail/online fulfillment, its logistics facilities foster the seamless flow of goods around the world. The Company’s customer base represents a spectrum of international, national, regional and local distribution users.
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