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, 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.