Prologis (NYSE:PLD) released its quarterly earnings data on Tuesday, January 23rd. The real estate investment trust reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.01, Bloomberg Earnings reports. The firm had revenue of $550.65 million during the quarter, compared to the consensus estimate of $533.54 million. Prologis had a return on equity of 9.11% and a net margin of 63.11%. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.63 earnings per share. Prologis updated its FY18 guidance to $2.85-2.95 EPS.
Shares of Prologis (PLD) traded down $0.62 during mid-day trading on Wednesday, hitting $60.54. The stock had a trading volume of 2,680,000 shares, compared to its average volume of 2,870,000. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.35 and a quick ratio of 0.80. Prologis has a 1-year low of $48.80 and a 1-year high of $67.53. The stock has a market capitalization of $32,210.00, a price-to-earnings ratio of 19.85, a price-to-earnings-growth ratio of 3.82 and a beta of 0.83.
Several analysts recently weighed in on the company. BMO Capital Markets set a $68.00 price objective on Prologis and gave the company a “buy” rating in a report on Tuesday, January 23rd. Bank of America set a $72.00 target price on Prologis and gave the company a “buy” rating in a research note on Wednesday, October 25th. KeyCorp reiterated a “buy” rating and issued a $72.00 target price on shares of Prologis in a research note on Thursday, December 21st. Jefferies Group reiterated a “neutral” rating on shares of Prologis in a research note on Wednesday, January 24th. Finally, Citigroup lifted their target price on Prologis from $63.00 to $66.00 and gave the company a “neutral” rating in a research note on Thursday, October 19th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $67.06.
In other Prologis news, insider Edward S. Nekritz sold 15,752 shares of the business’s stock in a transaction that occurred on Thursday, December 28th. The stock was sold at an average price of $64.51, for a total value of $1,016,161.52. Following the completion of the transaction, the insider now directly owns 146,414 shares of the company’s stock, valued at $9,445,167.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William D. Zollars sold 4,020 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $60.48, for a total value of $243,129.60. Following the completion of the transaction, the director now directly owns 20,225 shares of the company’s stock, valued at $1,223,208. The disclosure for this sale can be found here. Insiders have sold 103,872 shares of company stock valued at $6,843,648 in the last ninety days. Corporate insiders own 1.31% of the company’s stock.
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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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