ProLogis (PLD) Shares are Down -0.68%

ProLogis (PLD) has risen sharply, recording gains of 9.22% in the past 4 weeks. However, the stock has corrected -0.68% 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 6.57% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.

ProLogis (NYSE:PLD): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $54.04 and $53.67 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $54.30. The buying momentum continued till the end and the stock did not give up its gains. It closed at $54.12, notching a gain of 0.22% for the day. The total traded volume was 1,985,892 . The stock had closed at $54.00 on the previous day.

The stock has recorded a 20-day Moving Average of 3.53% and the 50-Day Moving Average is 7.88%. Prologis, Inc. is up 17.13% in the last 3-month period. Year-to-Date the stock performance stands at 28.45%.

ProLogis (PLD) stock is expected to deviate a maximum of $3.58 from the average target price of $52.21 for the short term period. 14 Street Experts have initiated coverage on the stock with the most promising target being $59 and the most muted being $47.

ProLogis

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.

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