Equities research analysts forecast that Prologis (NYSE:PLD) will announce earnings per share of $0.70 for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Prologis’ earnings. The highest EPS estimate is $0.73 and the lowest is $0.69. Prologis posted earnings of $0.84 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 16.7%. The business is scheduled to announce its next earnings report on Tuesday, July 17th.
On average, analysts expect that Prologis will report full year earnings of $2.93 per share for the current financial year, with EPS estimates ranging from $2.90 to $3.02. For the next year, analysts expect that the business will post earnings of $3.13 per share, with EPS estimates ranging from $3.00 to $3.22. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that follow Prologis.
Prologis (NYSE:PLD) last issued its quarterly earnings data on Tuesday, April 17th. The real estate investment trust reported $0.68 EPS for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.33. Prologis had a return on equity of 9.85% and a net margin of 67.65%. The business had revenue of $555.90 million for the quarter, compared to analyst estimates of $552.42 million. During the same quarter in the prior year, the firm posted $0.63 EPS. The firm’s revenue for the quarter was down 1.9% on a year-over-year basis.
Several equities analysts recently commented on the company. BMO Capital Markets restated a “buy” rating and set a $68.00 target price on shares of Prologis in a research report on Tuesday, April 17th. Jefferies Group upgraded Prologis from a “hold” rating to a “buy” rating in a research report on Thursday, April 12th. ValuEngine upgraded Prologis from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Robert W. Baird lifted their target price on Prologis from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, January 24th. Finally, JPMorgan Chase raised Prologis from a “neutral” rating to an “overweight” rating in a research note on Tuesday, March 27th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $67.94.
Shares of PLD stock traded down $0.24 during mid-day trading on Tuesday, reaching $64.99. The stock had a trading volume of 2,391,685 shares, compared to its average volume of 2,197,152. The company has a current ratio of 0.32, a quick ratio of 0.68 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $34,643.18, a P/E ratio of 23.13, a P/E/G ratio of 4.77 and a beta of 0.83. Prologis has a one year low of $53.15 and a one year high of $67.53.
The company also recently declared a quarterly dividend, which was paid on Thursday, March 29th. Stockholders of record on Thursday, March 15th were issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.95%. This is a positive change from Prologis’s previous quarterly dividend of $0.44. The ex-dividend date was Wednesday, March 14th. Prologis’s payout ratio is 68.33%.
In other news, insider Michael S. Curless sold 14,465 shares of the business’s stock in a transaction dated Wednesday, March 28th. The stock was sold at an average price of $62.49, for a total value of $903,917.85. Following the sale, the insider now directly owns 102 shares in the company, valued at $6,373.98. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director William D. Zollars sold 4,020 shares of the business’s stock in a transaction dated 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 $1,223,208. The disclosure for this sale can be found here. Insiders own 1.31% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Virtue Capital Management LLC bought a new stake in Prologis during the fourth quarter worth about $143,000. Parallel Advisors LLC increased its position in Prologis by 66.3% during the fourth quarter. Parallel Advisors LLC now owns 2,509 shares of the real estate investment trust’s stock worth $162,000 after buying an additional 1,000 shares during the last quarter. Bronfman E.L. Rothschild L.P. increased its position in Prologis by 75.5% during the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 2,678 shares of the real estate investment trust’s stock worth $173,000 after buying an additional 1,152 shares during the last quarter. Premia Global Advisors LLC acquired a new position in Prologis during the fourth quarter worth approximately $192,000. Finally, Catalyst Capital Advisors LLC acquired a new position in Prologis during the fourth quarter worth approximately $200,000. Institutional investors and hedge funds own 95.39% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: “Prologis (PLD) Expected to Announce Earnings of $0.70 Per Share” was reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this piece of content on another publication, it was copied illegally and republished in violation of US & international copyright legislation. The legal version of this piece of content can be accessed at https://www.dispatchtribunal.com/2018/04/22/prologis-pld-expected-to-announce-earnings-of-0-70-per-share.html.
Prologis Company Profile
Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of December 31, 2017, 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 684 million square feet (64 million square meters) in 19 countries.
Get a free copy of the Zacks research report on Prologis (PLD)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Prologis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prologis and related companies with MarketBeat.com's FREE daily email newsletter.