Prologis downgraded to Sector Weight at KeyBanc » 07:1411/2311/23/20
As previously reported,…
As previously reported, KeyBanc analyst Craig Mailman downgraded Prologis to Sector Weight from Overweight. The downgrade reflects his view that Prologis and the overall industrial group could be sources of funds during the expected value rotation, which could break the five-year streak of outperformance versus the REIT sector
Prologis downgraded to Sector Weight from Overweight at KeyBanc » 04:3911/2311/23/20
KeyBanc analyst Craig…
KeyBanc analyst Craig Mailman downgraded Prologis to Sector Weight from Overweight without a price target.
|Over a month ago|
Prologis raises FY20 core FFO view to $3.76-$3.78 from $3.70 to $3.75 » 08:0710/2010/20/20
Consensus is for FY20 FFO…
Consensus is for FY20 FFO $3.72. "Our outlook continues to improve based on results, leasing and lower credit losses," said Thomas S. Olinger, CFO . "Year-over-year Core FFO growth is sector leading at 13.7%at the midpoint, excluding promotes, while keeping leverage flat. Additionally, we continue to maintain significant dividend coverage of 1.6x and expect 2020 free cash flow after dividends of $1.1B."
Prologis reports Q3 Core FFO 92c, consensus 88c » 08:0510/2010/20/20
Reports Q3 revenue…
Reports Q3 revenue $1.08B, consensus $955.77M. Reports Cash Same Store NOI up 2.2%. "Activity in our portfolio is robust and broadening - a reflection of increased demand in the quarter across multiple sectors, the adoption of e-commerce and the need for higher levels of inventory," said Hamid R. Moghadam, chairman and CEO, Prologis. "We remain focused on addressing customer pain points through our investments in data, labor solutions, technology and innovation."
Prologis initiated with a Buy at UBS » 07:1310/1610/16/20
UBS analyst Brent Dilts…
UBS analyst Brent Dilts initiated coverage of Prologis with a Buy rating and $126 price target. The analyst cites "strong demand" driven by accelerating ecommerce and inventory builds. Dilts adds that ecommerce could require 3-times the logistics space of traditional brick-and-mortar retail, while noting that inventories could increase by 5%-10% to prevent product shortages that occurred when COVID first hit.
Prologis resumed with a Buy at Goldman Sachs » 04:5909/2909/29/20
Goldman Sachs analyst…
Goldman Sachs analyst Caitlin Burrows resumed coverage of Prologis with a Buy rating and $126 price target. The analyst resumed coverage of four industrial real estate investment trusts with a positive fundamental outlook, but also recognizes the sector's current valuation premium. Industry benefits from "secular demand tailwinds" such as e-commerce growth and increasing inventory levels are "offset somewhat by cyclical headwinds" such as weaker industrial production and international trade, Burrows tells investors in a research note. The analyst believes Prologis is differentiated by its balance sheet and earnings growth.
|Over a quarter ago|
Prologis downgraded to In Line from Outperform at Evercore ISI » 06:5608/2408/24/20
Evercore ISI analyst…
Evercore ISI analyst Steve Sakwa downgraded Prologis to In Line from Outperform with a $106 price target.
Prologis price target raised to $121 from $90 at Deutsche Bank » 07:5108/0608/06/20
Deutsche Bank analyst…
Deutsche Bank analyst Derek Johnston raised the firm's price target on Prologis to $121 from $90 and keeps a Buy rating on the shares post the company's Q2 results. The analyst says operating metrics for Prologis "have remained firm" and that he now forecasts real estate investment trust sector leading funds from operation and same store growth rates .
Prologis price target raised to $115 from $110 at Wells Fargo » 08:3707/2807/28/20
Wells Fargo analyst…
Wells Fargo analyst Blaine Heck raised the firm's price target on Prologis to $115 from $110 and keeps an Overweight rating on the shares. The analyst notes that the company reported "strong" Q2 results and raised 2020 guidance, with notable increases in FFO, ssNOI, and development start guidance. He believes Prologis' balance between a solid growth profile/robust cash flow generation potential and strong balance sheet and liquidity position makes it an attractive investment amidst market uncertainty.
Prologis price target raised to $111 from $96 at BMO Capital » 07:2707/2207/22/20
BMO Capital analyst…
BMO Capital analyst Jeremy Metz raised the firm's price target on Prologis to $111 from $96 and keeps an Outperform rating on the shares. While no business is totally immune from the impact of COVID-19, with industrial demand increasing and the lowest cost of debt in the REIT industry, Prologis comes close, Metz tells investors in a research note.