ProLogis (NYSE:PLD) reported a drop of 7.6% or 800,652 shares in its short interest. The short figure came in at 1.9% of the total floats. The average daily volume of 2,851,642 shares suggests that the days to cover 9,678,117 short positions, as on June 15,2016, will be 3. On May 31,2016, the short interest was 10,478,769 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.
ProLogis (NYSE:PLD): The stock opened at $48.45 on Friday but the bulls could not build on the opening and the stock topped out at $49.00 for the day. The stock traded down to $47.42 during the day, due to lack of any buying support eventually closed down at $48.14 with a loss of -3.89% for the day. The stock had closed at $50.09 on the previous day. The total traded volume was 7,883,688 shares.
The company shares have rallied 29.55% from its 1 Year high price. On Jun 20, 2016, the shares registered one year high at $50.74 and the one year low was seen on Feb 11, 2016. The 50-Day Moving Average price is $48.30 and the 200 Day Moving Average price is recorded at $43.34.
ProLogis (NYSE:PLD) has tumbled 3.45% during the past week, however, the bigger picture is still very bullish; the stocks have advanced and posted positive gains of 1.18% in the last four weeks. The stocks have underperformed the S&P 500 by 1.85% during the past week but ProLogis (NYSE:PLD) it has outperformed the index in 4 weeks by 4.24%.
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.