Zacks Investment Research upgraded shares of Prologis Inc (NYSE:PLD) from a hold rating to a buy rating in a report published on Sunday morning, Market Beat Ratings reports. The firm currently has $44.00 price objective on the stock.

According to Zacks, “Prologis came up with fourth-quarter 2015 core FFO per share of $0.64, beating the Zacks Consensus Estimate of $0.62 and improving from the year-ago quarter figure of $0.48. Results were driven by growth in revenues and occupancy gains. Further, the company has established its 2016 core FFO in the range of $2.50–$2.60 per share, reflecting expected growth of 14% year over year. Amid decent growth in the industrial market, thanks to the rapidly growing e-commerce industry, demand for logistics infrastructure and efficient distribution networks is increasing, thereby giving Prologis ample scope to leverage growth opportunities. Yet, rising competition and interest rate issues are concerns before the company.”

Prologis (NYSE:PLD) traded up 1.52% during midday trading on Friday, hitting $39.47. The stock had a trading volume of 5,184,816 shares. The stock has a 50-day moving average price of $40.93 and a 200 day moving average price of $40.68. Prologis has a 12-month low of $36.26 and a 12-month high of $45.81. The firm has a market cap of $20.67 billion and a P/E ratio of 24.11.

Prologis (NYSE:PLD) last announced its earnings results on Tuesday, January 26th. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.02. The business had revenue of $6.43 billion for the quarter, compared to analyst estimates of $221.07 million. Prologis’s quarterly revenue was up 39.3% on a year-over-year basis. During the same quarter last year, the company posted $0.48 EPS. On average, equities analysts anticipate that Prologis will post ($0.27) earnings per share for the current fiscal year.

A number of other equities research analysts also recently commented on PLD. Morgan Stanley raised their price objective on shares of Prologis from $47.00 to $49.00 and gave the company an overweight rating in a research report on Friday, October 16th. Barclays raised their price objective on shares of Prologis from $49.00 to $53.00 and gave the company an overweight rating in a research report on Tuesday, October 20th. Vetr downgraded shares of Prologis from a buy rating to a hold rating and set a $43.76 price objective for the company. in a research report on Tuesday, October 20th. Stifel Nicolaus raised their price objective on shares of Prologis from $41.00 to $47.00 and gave the company a buy rating in a research report on Wednesday, October 21st. Finally, Oppenheimer restated a buy rating and issued a $50.00 price objective on shares of Prologis in a research report on Wednesday, October 21st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $46.78.

A number of hedge funds have recently added to or reduced their stakes in the company. Shinko Asset Management Co. Ltd. boosted its stake in Prologis by 2.8% in the fourth quarter. Shinko Asset Management Co. Ltd. now owns 11,566,197 shares of the company’s stock valued at $496,421,000 after buying an additional 314,900 shares during the last quarter. PGGM Investments raised its position in shares of Prologis by 3.8% in the fourth quarter. PGGM Investments now owns 7,440,318 shares of the company’s stock worth $319,338,000 after buying an additional 270,735 shares during the period. Strs Ohio raised its position in shares of Prologis by 3.6% in the fourth quarter. Strs Ohio now owns 2,580,942 shares of the company’s stock worth $110,774,000 after buying an additional 90,364 shares during the period. California State Teachers Retirement System raised its position in shares of Prologis by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 1,002,040 shares of the company’s stock worth $43,008,000 after buying an additional 15,894 shares during the period. Finally, Retirement Systems of Alabama raised its position in shares of Prologis by 21.1% in the fourth quarter. Retirement Systems of Alabama now owns 805,895 shares of the company’s stock worth $34,589,000 after buying an additional 140,214 shares during the period.

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 Company’s business consists of two operating segments: Real Estate Operations and Strategic Capital. The Company’s 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 (NYSE:PLD) in 21 countries.

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