ProLogis (PLD) PT Raised to $95 at Stifel

Stifel analyst John W. Guinee raised the price target on ProLogis (NYSE: PLD) to $95.00 (from $88.00) while maintaining a Buy rating.

Analyst comments: "We are revising our 2019 FFO estimates to $3.31/sh from $3.26/sh and our 2020 FFO/FAD estimates to $3.53/$2.98/ sh from $3.46/$2.89/sh. Lastly, we are introducing our 2021 FFO/FAD estimates of $3.79/$3.21/sh. We think the stock valuation metrics are similar to many industrial REITs at 25.1x/29.8x 2020E FFO/FAD/sh multiples. Note that these 2020 estimates include roughly $0.21/sh of promote income and benefits by roughly $0.15-$0.20/sh due to their lower cost of debt than other Industrial REITs we cover."

You May Also Be Interested In

• Morgan Stanley Upgrades QIAGEN NV (QIA:GR) (QGEN) to Overweight
• Jefferies Starts Trastor Real Estate Investment Co (TRASTOR:GA) at Buy
• Taysha Gene Therapies (TSHA) PT Raised to $11 at Citizens on REVEAL Data Update