ProLogis (PLD) : Traders are bullish on ProLogis (PLD) as it has outperformed the S&P 500 by a wide margin of 4.8% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 0.37%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 0.43% in the last 1 week, and is up 5.88% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 2.08% and the 50-Day Moving Average is 6.83%. ProLogis (NYSE:PLD): stock turned positive on Friday. Though the stock opened at $54.01, the bulls momentum made the stock top out at $54.66 level for the day. The stock recorded a low of $53.94 and closed the trading day at $54.35, in the green by 0.59%. The total traded volume for the day was 1,784,199. The stock had closed at $54.03 in the previous days trading.
The company Insiders own 1.29% of ProLogis shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -2.54% . Institutional Investors own 97.24% of ProLogis shares. During last six month period, the net percent change held by insiders has seen a change of -13.61%. Also, Equity analysts at the Brokerage firm Capital One Financial downgrades its rating on ProLogis (NYSE:PLD). The rating major has initiated the coverage with underweight rating on the shares. Earlier, the shares were rated a Equal-weight by the brokerage firm. The rating by the firm was issued on August 8, 2016.
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.