Prologis Expected to Post FY2018 Earnings of $2.93 Per Share (PLD)

Prologis (NYSE:PLD) – Analysts at Jefferies Group lifted their FY2018 earnings per share estimates for Prologis in a research report issued to clients and investors on Thursday, April 12th, according to Zacks Investment Research. Jefferies Group analyst J. Petersen now expects that the real estate investment trust will earn $2.93 per share for the year, up from their prior estimate of $2.91. Jefferies Group currently has a “Buy” rating on the stock. Jefferies Group also issued estimates for Prologis’ Q4 2018 earnings at $0.76 EPS, Q1 2019 earnings at $0.78 EPS, Q2 2019 earnings at $0.79 EPS, Q3 2019 earnings at $0.81 EPS, Q4 2019 earnings at $0.82 EPS, FY2019 earnings at $3.20 EPS, Q1 2020 earnings at $0.83 EPS and FY2020 earnings at $3.38 EPS.

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Prologis (NYSE:PLD) last announced its quarterly earnings results on Tuesday, April 17th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.33. The business had revenue of $555.90 million during the quarter, compared to the consensus estimate of $552.42 million. Prologis had a net margin of 67.65% and a return on equity of 9.85%. The business’s revenue was down 1.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.63 EPS.



Other research analysts have also issued reports about the stock. BMO Capital Markets set a $68.00 price target on shares of Prologis and gave the stock a “buy” rating in a research note on Tuesday, January 23rd. JPMorgan Chase raised shares of Prologis from a “neutral” rating to an “overweight” rating in a report on Tuesday, March 27th. Barclays reissued an “overweight” rating and set a $72.00 price objective on shares of Prologis in a research note on Friday, February 16th. Cantor Fitzgerald set a $69.00 price target on shares of Prologis and gave the stock a “buy” rating in a research note on Tuesday, January 23rd. Finally, Zacks Investment Research lowered shares of Prologis from a “hold” rating to a “sell” rating in a research report on Tuesday, December 26th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $67.94.

Prologis stock opened at $64.99 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.32 and a quick ratio of 0.68. The firm has a market cap of $34,643.18, a PE ratio of 21.81, a PEG ratio of 4.77 and a beta of 0.83. Prologis has a 12-month low of $53.15 and a 12-month high of $67.53.

A number of hedge funds have recently made changes to their positions in PLD. Virtue Capital Management LLC bought a new position in Prologis during the fourth quarter worth $143,000. Parallel Advisors LLC increased its holdings in Prologis by 66.3% in the 4th quarter. Parallel Advisors LLC now owns 2,509 shares of the real estate investment trust’s stock valued at $162,000 after buying an additional 1,000 shares during the period. Bronfman E.L. Rothschild L.P. increased its holdings in Prologis by 75.5% in the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 2,678 shares of the real estate investment trust’s stock valued at $173,000 after buying an additional 1,152 shares during the period. Premia Global Advisors LLC bought a new stake in Prologis in the 4th quarter valued at $192,000. Finally, Catalyst Capital Advisors LLC bought a new stake in Prologis in the 4th quarter valued at $200,000. 95.39% of the stock is currently owned by institutional investors and hedge funds.

In other Prologis news, insider Michael S. Curless sold 14,465 shares of Prologis stock in a transaction that occurred on Wednesday, March 28th. The shares were sold at an average price of $62.49, for a total value of $903,917.85. Following the completion of the sale, the insider now directly owns 102 shares in the company, valued at $6,373.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William D. Zollars sold 4,020 shares of Prologis stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $60.48, for a total transaction of $243,129.60. Following the completion of the sale, the director now owns 20,225 shares of the company’s stock, valued at $1,223,208. The disclosure for this sale can be found here. Company insiders own 1.31% of the company’s stock.

The company also recently announced a quarterly dividend, which was paid on Thursday, March 29th. Stockholders of record on Thursday, March 15th were given a $0.48 dividend. This is an increase from Prologis’s previous quarterly dividend of $0.44. This represents a $1.92 annualized dividend and a dividend yield of 2.95%. The ex-dividend date of this dividend was Wednesday, March 14th. Prologis’s dividend payout ratio (DPR) is 68.33%.

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About Prologis

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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