Prologis (PLD) Expected to Announce Earnings of $0.70 Per Share

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.

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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.

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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.

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Earnings History and Estimates for Prologis (NYSE:PLD)

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