Analysts expect that Prologis, Inc. (NYSE:PLD) will post earnings per share of $0.66 for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for Prologis’ earnings, with estimates ranging from $0.64 to $0.68. Prologis posted earnings of $0.73 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 9.6%. The company is expected to announce its next earnings report on Thursday, October 19th.
According to Zacks, analysts expect that Prologis will report full year earnings of $2.81 per share for the current fiscal year, with EPS estimates ranging from $2.80 to $2.82. For the next fiscal year, analysts anticipate that the company will post earnings of $2.91 per share, with EPS estimates ranging from $2.77 to $2.98. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that cover Prologis.
Prologis (NYSE:PLD) last announced its quarterly earnings data on Tuesday, July 18th. The real estate investment trust reported $0.84 EPS for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.06. Prologis had a return on equity of 6.64% and a net margin of 43.99%. The firm had revenue of $766.18 million during the quarter, compared to analysts’ expectations of $576 million. During the same quarter last year, the firm posted $0.60 earnings per share. The company’s revenue for the quarter was up 27.2% compared to the same quarter last year.
A number of research firms recently weighed in on PLD. BTIG Research reaffirmed a “buy” rating and set a $57.00 price objective on shares of Prologis in a research report on Tuesday, April 11th. Evercore ISI increased their target price on Prologis from $58.00 to $59.00 and gave the company an “outperform” rating in a research note on Wednesday, April 19th. Zacks Investment Research downgraded Prologis from a “buy” rating to a “hold” rating in a research note on Thursday, April 20th. Citigroup Inc. raised their price target on Prologis from $50.00 to $56.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 25th. Finally, Stifel Nicolaus raised their price target on Prologis from $57.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, May 30th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $58.50.
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In related news, CEO Gary E. Anderson sold 65,000 shares of the company’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $58.55, for a total transaction of $3,805,750.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Edward S. Nekritz sold 25,000 shares of the company’s stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $55.31, for a total transaction of $1,382,750.00. Following the transaction, the insider now owns 199,950 shares of the company’s stock, valued at approximately $11,059,234.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 544,572 shares of company stock worth $30,610,686. Corporate insiders own 1.31% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Prologis during the fourth quarter worth approximately $12,292,000. UBS Asset Management Americas Inc. increased its stake in shares of Prologis by 3.2% in the fourth quarter. UBS Asset Management Americas Inc. now owns 2,299,685 shares of the real estate investment trust’s stock worth $121,402,000 after buying an additional 71,604 shares in the last quarter. Pegasus Partners Ltd. increased its stake in shares of Prologis by 7.5% in the fourth quarter. Pegasus Partners Ltd. now owns 14,335 shares of the real estate investment trust’s stock worth $757,000 after buying an additional 995 shares in the last quarter. Teachers Advisors LLC increased its stake in shares of Prologis by 31.3% in the fourth quarter. Teachers Advisors LLC now owns 3,619,353 shares of the real estate investment trust’s stock worth $191,066,000 after buying an additional 861,759 shares in the last quarter. Finally, Kentucky Retirement Systems purchased a new stake in shares of Prologis during the fourth quarter worth about $2,025,000. Institutional investors own 95.99% of the company’s stock.
Shares of Prologis (NYSE:PLD) traded up 2.22% during midday trading on Friday, reaching $60.30. The company’s stock had a trading volume of 2,848,353 shares. Prologis has a 52-week low of $45.93 and a 52-week high of $60.47. The stock has a 50-day moving average price of $57.95 and a 200-day moving average price of $53.77. The stock has a market cap of $31.96 billion, a price-to-earnings ratio of 27.06 and a beta of 0.94.
The company also recently announced a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Wednesday, June 14th were paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 2.92%. The ex-dividend date of this dividend was Monday, June 12th. Prologis’s payout ratio is currently 79.28%.
Prologis, Inc is a real estate investment trust (REIT) company. The Company is engaged in logistics real estate business. The Company’s segments include Real Estate Operations and Strategic Capital. The Real estate operations segment consists of rental operations and development. The Company’s strategic capital segment includes asset management services, as well as services performed for unconsolidated co-investment ventures.
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