Wall Street brokerages forecast that Prologis Inc (NYSE:PLD) will report $0.74 earnings per share for the current fiscal quarter, Zacks reports. Five analysts have made estimates for Prologis’ earnings, with the highest EPS estimate coming in at $0.77 and the lowest estimate coming in at $0.72. Prologis posted earnings of $0.63 per share in the same quarter last year, which would suggest a positive year over year growth rate of 17.5%. The company is scheduled to report its next quarterly earnings results on Tuesday, April 17th.
On average, analysts expect that Prologis will report full year earnings of $2.91 per share for the current financial year, with EPS estimates ranging from $2.86 to $2.95. For the next financial year, analysts forecast that the firm will report earnings of $3.10 per share, with EPS estimates ranging from $3.00 to $3.15. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Prologis.
Prologis (NYSE:PLD) last issued its earnings results on Tuesday, January 23rd. The real estate investment trust reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.01. Prologis had a net margin of 63.11% and a return on equity of 9.12%. The business had revenue of $550.65 million during the quarter, compared to analysts’ expectations of $533.54 million. During the same quarter in the prior year, the business posted $0.63 EPS. The company’s revenue for the quarter was down 1.6% on a year-over-year basis.
A number of analysts recently weighed in on PLD shares. Barclays increased their price target on shares of Prologis from $61.00 to $64.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 30th. KeyCorp reiterated a “buy” rating and set a $72.00 price target on shares of Prologis in a research note on Thursday, December 21st. Cantor Fitzgerald set a $69.00 price target on shares of Prologis and gave the stock a “buy” rating in a research note on Tuesday, January 23rd. Jefferies Group reiterated a “neutral” rating on shares of Prologis in a research note on Wednesday, January 24th. Finally, Robert W. Baird increased their price target on shares of Prologis from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $67.56.
Shares of Prologis (NYSE PLD) traded up $0.39 during trading on Wednesday, hitting $63.83. 2,825,385 shares of the stock traded hands, compared to its average volume of 2,421,470. Prologis has a fifty-two week low of $49.44 and a fifty-two week high of $67.53. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.68 and a current ratio of 0.68. The firm has a market cap of $33,816.95, a PE ratio of 20.86, a price-to-earnings-growth ratio of 4.77 and a beta of 0.88.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Thursday, March 15th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 3.01%. The ex-dividend date is Wednesday, March 14th. This is a boost from Prologis’s previous quarterly dividend of $0.44. Prologis’s dividend payout ratio (DPR) is 62.75%.
In other news, Director William D. Zollars sold 4,020 shares of the firm’s stock in a transaction 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 sale, the director now owns 20,225 shares in the company, valued at approximately $1,223,208. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Thomas S. Olinger sold 46,200 shares of the firm’s stock in a transaction on Monday, December 18th. The stock was sold at an average price of $66.33, for a total transaction of $3,064,446.00. Following the completion of the sale, the chief financial officer now owns 36,325 shares of the company’s stock, valued at approximately $2,409,437.25. The disclosure for this sale can be found here. Insiders sold a total of 65,972 shares of company stock valued at $4,323,737 in the last 90 days. Company insiders own 1.31% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Xact Kapitalforvaltning AB increased its holdings in shares of Prologis by 6.3% in the 4th quarter. Xact Kapitalforvaltning AB now owns 184,615 shares of the real estate investment trust’s stock valued at $11,910,000 after purchasing an additional 11,021 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Prologis by 14.0% in the 4th quarter. Envestnet Asset Management Inc. now owns 80,935 shares of the real estate investment trust’s stock valued at $5,222,000 after purchasing an additional 9,936 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of Prologis by 34.6% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 368,872 shares of the real estate investment trust’s stock valued at $23,796,000 after purchasing an additional 94,866 shares in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. increased its holdings in shares of Prologis by 50.1% in the 4th quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 29,959 shares of the real estate investment trust’s stock valued at $1,933,000 after purchasing an additional 10,000 shares in the last quarter. Finally, Slow Capital Inc. purchased a new position in shares of Prologis in the 4th quarter valued at about $1,247,000. Institutional investors own 95.39% of the company’s stock.
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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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