Prologis Inc (NYSE:PLD) Expected to Announce Earnings of $0.76 Per Share

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Equities research analysts predict that Prologis Inc (NYSE:PLD) will report earnings per share (EPS) of $0.76 for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Prologis’ earnings, with the lowest EPS estimate coming in at $0.74 and the highest estimate coming in at $0.78. Prologis posted earnings per share of $0.71 during the same quarter last year, which suggests a positive year-over-year growth rate of 7%. The business is scheduled to announce its next earnings report before the market opens on Tuesday, July 16th.

According to Zacks, analysts expect that Prologis will report full year earnings of $3.23 per share for the current fiscal year, with EPS estimates ranging from $3.21 to $3.25. For the next year, analysts expect that the business will report earnings of $3.42 per share, with EPS estimates ranging from $3.34 to $3.55. Zacks Investment Research’s earnings per share calculations are an average based on a survey of analysts that cover Prologis.

Prologis (NYSE:PLD) last announced its quarterly earnings results on Tuesday, April 16th. The real estate investment trust reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.01. Prologis had a net margin of 56.56% and a return on equity of 6.83%. The company had revenue of $696.80 million during the quarter, compared to the consensus estimate of $687.21 million. During the same quarter in the previous year, the company posted $0.80 earnings per share. The company’s revenue for the quarter was up 25.3% compared to the same quarter last year.

A number of brokerages recently weighed in on PLD. BMO Capital Markets restated a “buy” rating and set a $70.00 price objective on shares of Prologis in a research note on Sunday, April 21st. Goldman Sachs Group began coverage on shares of Liberty Property Trust in a research note on Wednesday, May 15th. They set a “neutral” rating and a $49.00 price objective on the stock. Morgan Stanley cut shares of Meili from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $14.00 to $4.20 in a research note on Monday, June 3rd. Citigroup set a $86.00 price objective on shares of Prologis and gave the company a “buy” rating in a research note on Thursday, June 6th. Finally, Zacks Investment Research cut shares of G1 Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, May 16th. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Prologis currently has an average rating of “Buy” and a consensus target price of $74.96.

In other Prologis news, Director Philip L. Hawkins sold 9,000 shares of the business’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $78.72, for a total transaction of $708,480.00. Following the sale, the director now owns 35,511 shares in the company, valued at approximately $2,795,425.92. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Edward S. Nekritz sold 30,671 shares of the business’s stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $75.01, for a total value of $2,300,631.71. Following the sale, the insider now owns 21,121 shares in the company, valued at approximately $1,584,286.21. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC raised its holdings in Prologis by 3.9% during the 1st quarter. FMR LLC now owns 20,743,807 shares of the real estate investment trust’s stock worth $1,492,516,000 after buying an additional 769,477 shares during the period. Cipher Capital LP bought a new position in shares of Prologis during the fourth quarter valued at approximately $4,142,000. Phocas Financial Corp. boosted its stake in shares of Prologis by 78.5% during the fourth quarter. Phocas Financial Corp. now owns 35,214 shares of the real estate investment trust’s stock valued at $2,068,000 after purchasing an additional 15,491 shares in the last quarter. Candriam Luxembourg S.C.A. boosted its stake in shares of Prologis by 3.3% during the fourth quarter. Candriam Luxembourg S.C.A. now owns 88,103 shares of the real estate investment trust’s stock valued at $5,173,000 after purchasing an additional 2,819 shares in the last quarter. Finally, State Treasurer State of Michigan boosted its stake in shares of Prologis by 0.8% during the first quarter. State Treasurer State of Michigan now owns 181,611 shares of the real estate investment trust’s stock valued at $13,067,000 after purchasing an additional 1,400 shares in the last quarter. Hedge funds and other institutional investors own 95.42% of the company’s stock.

Shares of NYSE PLD traded up $0.27 during midday trading on Wednesday, reaching $80.30. 130,986 shares of the company traded hands, compared to its average volume of 2,199,129. Prologis has a 52 week low of $55.21 and a 52 week high of $83.99. The stock’s 50-day moving average is $78.99. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $50.48 billion, a P/E ratio of 26.50, a price-to-earnings-growth ratio of 4.53 and a beta of 1.03.

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Thursday, June 13th were given a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 2.64%. The ex-dividend date of this dividend was Wednesday, June 12th. Prologis’s dividend payout ratio (DPR) is presently 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.

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Earnings History and Estimates for Prologis (NYSE:PLD)

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