BTIG Positive on Prologis (PLD) Following 'Beat-and-Raise' Quarter

October 20, 2016 11:36 AM EDT
Get Alerts PLD Hot Sheet
Price: $52.57 -0.36%

Rating Summary:
    14 Buy, 12 Hold, 3 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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BTIG affirms Prologis (NYSE: PLD) at Buy with a price target of $60 after the company issued strong Q3 results and boosted guidance.

The firm summarized: Prologis reported 3Q16 core FFO/sh of $0.73, $0.03 higher than our estimate and the Street. The company raised its FY guide by $0.015 to $2.565 at the mid-point. The new guide appears conservative given the $0.03 outperformance in 3Q, higher FY SSNOI guide (up 65bps to 5.65%), and positive leasing momentum.

For an analyst ratings summary and ratings history on ProLogis click here. For more ratings news on ProLogis click here.

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