Brokerages Anticipate Prologis, Inc. (NYSE:PLD) Will Announce Earnings of $1.12 Per Share

Brokerages expect that Prologis, Inc. (NYSE:PLDGet Rating) will post $1.12 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Five analysts have made estimates for Prologis’ earnings, with the lowest EPS estimate coming in at $1.10 and the highest estimate coming in at $1.14. Prologis reported earnings of $1.01 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 10.9%. The firm is scheduled to issue its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Prologis will report full year earnings of $5.13 per share for the current fiscal year, with EPS estimates ranging from $5.02 to $5.18. For the next fiscal year, analysts forecast that the business will post earnings of $5.62 per share, with EPS estimates ranging from $5.30 to $5.90. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Prologis.

Prologis (NYSE:PLDGet Rating) last posted its earnings results on Tuesday, April 19th. The real estate investment trust reported $1.54 EPS for the quarter, topping the consensus estimate of $0.55 by $0.99. Prologis had a return on equity of 9.98% and a net margin of 77.08%. The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same period last year, the company earned $0.97 earnings per share. Prologis’s revenue for the quarter was up 5.4% compared to the same quarter last year.

A number of analysts have issued reports on the company. Truist Financial raised their price target on Prologis from $158.00 to $166.00 in a research note on Tuesday, January 18th. Barclays upped their price target on Prologis from $171.00 to $190.00 and gave the stock an “overweight” rating in a report on Thursday, April 21st. Raymond James boosted their target price on shares of Prologis from $180.00 to $190.00 and gave the stock a “strong-buy” rating in a research report on Monday. Robert W. Baird lifted their price target on shares of Prologis from $152.00 to $175.00 in a research note on Wednesday, April 20th. Finally, The Goldman Sachs Group upped their price objective on shares of Prologis from $184.00 to $209.00 in a research report on Friday, January 21st. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $175.75.

NYSE:PLD traded up $5.34 on Thursday, reaching $173.01. 4,040,082 shares of the company’s stock were exchanged, compared to its average volume of 3,075,163. Prologis has a 52-week low of $112.00 and a 52-week high of $174.54. The firm has a market capitalization of $128.06 billion, a price-to-earnings ratio of 34.67, a price-to-earnings-growth ratio of 3.85 and a beta of 0.87. The company has a quick ratio of 0.44, a current ratio of 0.65 and a debt-to-equity ratio of 0.48. The business has a fifty day moving average of $158.35 and a 200-day moving average of $154.41.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 31st. Shareholders of record on Friday, March 18th were given a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 1.83%. This is an increase from Prologis’s previous quarterly dividend of $0.63. The ex-dividend date of this dividend was Thursday, March 17th. Prologis’s dividend payout ratio is presently 63.33%.

In other Prologis news, Director William D. Zollars sold 1,350 shares of the firm’s stock in a transaction dated Friday, March 25th. The stock was sold at an average price of $155.68, for a total transaction of $210,168.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Irving F. Lyons III sold 44,385 shares of the business’s stock in a transaction on Monday, April 25th. The stock was sold at an average price of $164.60, for a total transaction of $7,305,771.00. Following the completion of the sale, the director now owns 22,431 shares in the company, valued at approximately $3,692,142.60. The disclosure for this sale can be found here. Corporate insiders own 0.70% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Marshall Wace LLP acquired a new position in Prologis in the 1st quarter worth about $57,000. Morgan Stanley raised its holdings in shares of Prologis by 30.6% in the 2nd quarter. Morgan Stanley now owns 6,634,236 shares of the real estate investment trust’s stock valued at $792,990,000 after buying an additional 1,552,532 shares during the period. Sigma Planning Corp increased its position in shares of Prologis by 112.6% during the third quarter. Sigma Planning Corp now owns 6,290 shares of the real estate investment trust’s stock worth $789,000 after acquiring an additional 3,332 shares during the period. Commonwealth Equity Services LLC raised its holdings in Prologis by 5.3% in the third quarter. Commonwealth Equity Services LLC now owns 63,339 shares of the real estate investment trust’s stock valued at $7,944,000 after acquiring an additional 3,216 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. boosted its position in shares of Prologis by 0.8% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 18,292 shares of the real estate investment trust’s stock worth $2,295,000 after acquiring an additional 143 shares in the last quarter. Institutional investors own 92.93% of the company’s stock.

About Prologis (Get Rating)

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of December 31, 2020, 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 984 million square feet (91 million square meters) in 19 countries.

Featured Articles

Get a free copy of the Zacks research report on Prologis (PLD)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Prologis (NYSE:PLD)

Receive News & Ratings for Prologis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prologis and related companies with MarketBeat.com's FREE daily email newsletter.