Prologis (NYSE:PLD) updated its FY19 earnings guidance on Tuesday. The company provided EPS guidance of $3.26-3.30 for the period, compared to the Thomson Reuters consensus EPS estimate of $3.22. Prologis also updated its FY 2019 guidance to $3.26-3.30 EPS.
A number of analysts have recently commented on the company. KeyCorp upped their price target on Terreno Realty from $49.00 to $52.00 and gave the company an overweight rating in a research note on Wednesday, July 10th. BMO Capital Markets lowered their price target on Wells Fargo & Co to $59.00 and set a market perform rating for the company in a research note on Wednesday. Citigroup set a $86.00 price target on Prologis and gave the company a buy rating in a research note on Thursday, June 6th. Goldman Sachs Group assumed coverage on Liberty Property Trust in a research note on Wednesday, May 15th. They issued a neutral rating and a $49.00 price target for the company. Finally, Zacks Investment Research cut G1 Therapeutics from a buy rating to a hold rating in a research note on Thursday, May 16th. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Prologis presently has an average rating of Buy and a consensus target price of $76.75.
Shares of PLD opened at $81.61 on Thursday. The company has a market cap of $51.38 billion, a PE ratio of 26.93, a P/E/G ratio of 4.54 and a beta of 1.03. Prologis has a twelve month low of $55.21 and a twelve month high of $83.99. The business’s 50 day simple moving average is $79.51. The company has a quick ratio of 0.36, a current ratio of 0.20 and a debt-to-equity ratio of 0.43.
Prologis (NYSE:PLD) last issued its quarterly earnings results on Monday, July 15th. The real estate investment trust reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.16). The business had revenue of $700.69 million for the quarter, compared to the consensus estimate of $704.19 million. Prologis had a return on equity of 6.55% and a net margin of 55.04%. Prologis’s revenue was up 28.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.71 earnings per share. Equities research analysts forecast that Prologis will post 3.28 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Thursday, June 13th were paid a dividend of $0.53 per share. The ex-dividend date of this dividend was Wednesday, June 12th. This represents a $2.12 annualized dividend and a dividend yield of 2.60%. Prologis’s dividend payout ratio is currently 69.97%.
In other news, Director Philip L. Hawkins sold 9,000 shares of the stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $78.72, for a total value of $708,480.00. Following the completion of the sale, the director now owns 35,511 shares of the company’s stock, valued at approximately $2,795,425.92. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Edward S. Nekritz sold 30,671 shares of the stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $75.01, for a total value of $2,300,631.71. Following the completion of the sale, the insider now directly owns 21,121 shares of the company’s stock, valued at approximately $1,584,286.21. The disclosure for this sale can be found here. 1.10% of the stock is owned by company insiders.
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, 2018, 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 768 million square feet (71 million square meters) in 19 countries.
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