Equities research analysts forecast that Prologis Inc (NYSE:PLD) will post sales of $713.18 million for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Prologis’ earnings. The lowest sales estimate is $708.24 million and the highest is $716.00 million. Prologis reported sales of $608.97 million during the same quarter last year, which indicates a positive year-over-year growth rate of 17.1%. The company is expected to report its next quarterly earnings results before the market opens on Tuesday, October 15th.
According to Zacks, analysts expect that Prologis will report full-year sales of $2.84 billion for the current year, with estimates ranging from $2.82 billion to $2.89 billion. For the next fiscal year, analysts forecast that the company will report sales of $3.05 billion, with estimates ranging from $2.94 billion to $3.25 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow Prologis.
Prologis (NYSE:PLD) last issued its quarterly earnings data on Monday, July 15th. The real estate investment trust reported $0.60 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.16). Prologis had a return on equity of 6.55% and a net margin of 55.04%. The company had revenue of $700.69 million for the quarter, compared to the consensus estimate of $704.19 million. During the same period in the previous year, the firm earned $0.71 earnings per share. The company’s revenue was up 28.6% compared to the same quarter last year.
Several research analysts have issued reports on the company. Citigroup set a $86.00 target price on Prologis and gave the company a “buy” rating in a research report on Thursday, June 6th. Deutsche Bank boosted their target price on Prologis from $74.00 to $82.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Evercore ISI set a $80.00 price target on Prologis and gave the company a “hold” rating in a report on Monday, August 12th. SunTrust Banks boosted their price target on Prologis from $81.00 to $89.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. Finally, Morgan Stanley boosted their price target on Prologis from $75.00 to $78.50 and gave the company an “overweight” rating in a report on Monday, June 3rd. Five analysts have rated the stock with a hold rating, eight have issued 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 target price of $79.68.
In other news, CFO Thomas S. Olinger sold 13,051 shares of the company’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $82.25, for a total transaction of $1,073,444.75. Following the transaction, the chief financial officer now directly owns 20,667 shares of the company’s stock, valued at $1,699,860.75. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Eugene F. Reilly sold 12,500 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $81.72, for a total value of $1,021,500.00. Following the transaction, the insider now directly owns 10,685 shares in the company, valued at $873,178.20. The disclosure for this sale can be found here. 1.10% of the stock is owned by corporate insiders.
Hedge funds have recently modified their holdings of the company. Cambridge Trust Co. increased its position in shares of Prologis by 2.8% during the second quarter. Cambridge Trust Co. now owns 304,162 shares of the real estate investment trust’s stock worth $24,364,000 after purchasing an additional 8,279 shares in the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of Prologis by 0.6% during the second quarter. Oregon Public Employees Retirement Fund now owns 65,477 shares of the real estate investment trust’s stock worth $5,245,000 after purchasing an additional 392 shares in the last quarter. FMR LLC increased its position in shares of Prologis by 3.9% during the first quarter. FMR LLC now owns 20,743,807 shares of the real estate investment trust’s stock worth $1,492,516,000 after purchasing an additional 769,477 shares in the last quarter. Liberty Wealth Management LLC increased its position in shares of Prologis by 164.4% during the second quarter. Liberty Wealth Management LLC now owns 965 shares of the real estate investment trust’s stock worth $77,000 after purchasing an additional 600 shares in the last quarter. Finally, Phocas Financial Corp. increased its position in shares of Prologis by 1.1% in the 1st quarter. Phocas Financial Corp. now owns 35,596 shares of the real estate investment trust’s stock valued at $2,561,000 after acquiring an additional 382 shares during the period. 95.99% of the stock is currently owned by institutional investors and hedge funds.
NYSE PLD traded down $0.67 during trading hours on Wednesday, hitting $84.35. 2,740,864 shares of the company were exchanged, compared to its average volume of 1,870,989. The stock has a 50-day moving average price of $82.86 and a 200 day moving average price of $77.97. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.43. Prologis has a 52 week low of $55.21 and a 52 week high of $86.94. The stock has a market cap of $54.01 billion, a PE ratio of 27.84, a price-to-earnings-growth ratio of 4.61 and a beta of 1.03.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 20th will be issued a dividend of $0.53 per share. The ex-dividend date is Thursday, September 19th. This represents a $2.12 dividend on an annualized basis and a yield of 2.51%. Prologis’s dividend payout ratio is currently 69.97%.
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.
Further Reading: Diluted Earnings Per Share
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