Prologis Inc (NYSE:PLD) – Equities researchers at KeyCorp decreased their FY2018 earnings per share estimates for shares of Prologis in a research note issued to investors on Tuesday, Zacks Investment Research reports. KeyCorp analyst C. Mailman now forecasts that the real estate investment trust will post earnings per share of $2.88 for the year, down from their prior estimate of $2.93. KeyCorp currently has a “Buy” rating and a $72.00 price objective on the stock. KeyCorp also issued estimates for Prologis’ FY2019 earnings at $3.10 EPS.
Other analysts have also issued research reports about the stock. BTIG Research reiterated a “buy” rating and issued a $68.00 price objective (up previously from $62.00) on shares of Prologis in a research note on Wednesday, September 27th. Zacks Investment Research upgraded shares of Prologis from a “hold” rating to a “buy” rating and set a $71.00 price objective on the stock in a research note on Monday, September 25th. Stifel Nicolaus reiterated a “buy” rating and issued a $65.00 price objective on shares of Prologis in a research note on Thursday, September 21st. BMO Capital Markets set a $69.00 price objective on shares of Prologis and gave the stock a “buy” rating in a research note on Tuesday, October 17th. Finally, SunTrust Banks reiterated a “buy” rating and issued a $68.00 price objective on shares of Prologis in a research note on Thursday, October 12th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Prologis presently has a consensus rating of “Buy” and a consensus price target of $66.57.
Prologis (NYSE PLD) opened at $61.85 on Thursday. The stock has a market cap of $32,802.86, a P/E ratio of 18.57, a price-to-earnings-growth ratio of 3.95 and a beta of 0.92. Prologis has a 52 week low of $48.33 and a 52 week high of $67.53. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.80 and a current ratio of 0.80.
Prologis (NYSE:PLD) last issued its quarterly earnings results on Tuesday, October 17th. The real estate investment trust reported $0.67 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.67. Prologis had a net margin of 68.50% and a return on equity of 9.93%. The business had revenue of $531.18 million for the quarter, compared to analyst estimates of $573.68 million. During the same quarter in the prior year, the business posted $0.14 EPS. Prologis’s revenue for the quarter was down 5.2% compared to the same quarter last year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Monday, December 18th were issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date of this dividend was Friday, December 15th. Prologis’s dividend payout ratio (DPR) is presently 52.85%.
In related news, CFO Thomas S. Olinger sold 46,200 shares of the stock in a transaction on Monday, December 18th. The shares were sold at an average price of $66.33, for a total transaction of $3,064,446.00. Following the sale, the chief financial officer now directly owns 36,325 shares of the company’s stock, valued at $2,409,437.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Edward S. Nekritz sold 15,752 shares of the stock in a transaction on Thursday, December 28th. The stock was sold at an average price of $64.51, for a total transaction of $1,016,161.52. Following the sale, the insider now directly owns 146,414 shares in the company, valued at $9,445,167.14. The disclosure for this sale can be found here. Insiders have sold 99,852 shares of company stock worth $6,600,519 over the last three months. 1.31% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Blair William & Co. IL purchased a new position in Prologis during the second quarter valued at $239,000. William Blair Investment Management LLC lifted its holdings in Prologis by 64.2% during the second quarter. William Blair Investment Management LLC now owns 290,487 shares of the real estate investment trust’s stock valued at $17,034,000 after purchasing an additional 113,528 shares in the last quarter. Federated Investors Inc. PA lifted its holdings in Prologis by 27.7% during the second quarter. Federated Investors Inc. PA now owns 29,610 shares of the real estate investment trust’s stock valued at $1,736,000 after purchasing an additional 6,429 shares in the last quarter. Kayne Anderson Capital Advisors LP purchased a new position in Prologis during the second quarter valued at $322,000. Finally, GAM Holding AG lifted its holdings in Prologis by 2.4% during the second quarter. GAM Holding AG now owns 103,275 shares of the real estate investment trust’s stock valued at $6,056,000 after purchasing an additional 2,467 shares in the last quarter. 95.36% of the stock is currently owned by hedge funds and other institutional investors.
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Prologis Company Profile
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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