Zacks: Analysts Expect Prologis Inc (PLD) to Announce $0.79 Earnings Per Share

Analysts expect Prologis Inc (NYSE:PLD) to post earnings of $0.79 per share for the current quarter, Zacks reports. Four analysts have issued estimates for Prologis’ earnings, with the highest EPS estimate coming in at $0.80 and the lowest estimate coming in at $0.78. Prologis posted earnings of $0.67 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 17.9%. The company is expected to announce its next earnings report before the market opens on Tuesday, January 22nd.

On average, analysts expect that Prologis will report full year earnings of $3.02 per share for the current fiscal year, with EPS estimates ranging from $3.01 to $3.02. For the next year, analysts forecast that the business will post earnings of $3.16 per share, with EPS estimates ranging from $3.10 to $3.26. Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that that provide coverage for Prologis.

Prologis (NYSE:PLD) last announced its quarterly earnings data on Tuesday, October 16th. The real estate investment trust reported $0.72 EPS for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.01. Prologis had a return on equity of 6.65% and a net margin of 51.66%. The firm had revenue of $611.00 million during the quarter, compared to analysts’ expectations of $582.23 million. During the same quarter last year, the firm posted $1.63 earnings per share. The company’s revenue for the quarter was up 14.2% compared to the same quarter last year.

PLD has been the subject of a number of research reports. Barclays reissued a “buy” rating and issued a $70.00 price objective on shares of Prologis in a research note on Sunday, October 14th. Zacks Investment Research cut Prologis from a “buy” rating to a “hold” rating in a research note on Monday, October 22nd. ValuEngine cut Prologis from a “buy” rating to a “hold” rating in a research note on Wednesday, January 2nd. Deutsche Bank raised Prologis from a “hold” rating to a “buy” rating and raised their price objective for the company from $68.00 to $72.00 in a research note on Tuesday, December 18th. Finally, Scotiabank initiated coverage on Prologis in a research note on Tuesday, October 16th. They issued a “sector perform” rating for the company. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Prologis currently has an average rating of “Buy” and a consensus price target of $72.23.

Prologis stock traded down $0.34 during mid-day trading on Tuesday, reaching $62.04. The stock had a trading volume of 10,223 shares, compared to its average volume of 2,925,575. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.32 and a current ratio of 0.32. Prologis has a fifty-two week low of $55.21 and a fifty-two week high of $68.95. The stock has a market capitalization of $38.60 billion, a PE ratio of 22.08, a price-to-earnings-growth ratio of 3.81 and a beta of 0.86.

The business also recently announced a quarterly dividend, which was paid on Monday, December 31st. Stockholders of record on Tuesday, December 18th were issued a $0.48 dividend. The ex-dividend date was Monday, December 17th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.09%. Prologis’s dividend payout ratio is presently 68.33%.

In other news, Director Philip L. Hawkins sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, November 9th. The stock was sold at an average price of $67.23, for a total value of $1,008,450.00. Following the transaction, the director now owns 69,511 shares in the company, valued at $4,673,224.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William D. Zollars sold 1,610 shares of the firm’s stock in a transaction that occurred on Wednesday, December 19th. The shares were sold at an average price of $61.53, for a total value of $99,063.30. Following the completion of the transaction, the director now owns 9,880 shares in the company, valued at approximately $607,916.40. The disclosure for this sale can be found here. 1.32% of the stock is owned by company insiders.

Hedge funds have recently bought and sold shares of the company. Cornerstone Advisors Inc. lifted its holdings in Prologis by 14.5% during the third quarter. Cornerstone Advisors Inc. now owns 1,424 shares of the real estate investment trust’s stock worth $97,000 after acquiring an additional 180 shares during the period. Griffin Asset Management Inc. lifted its holdings in Prologis by 7.1% during the third quarter. Griffin Asset Management Inc. now owns 6,005 shares of the real estate investment trust’s stock worth $407,000 after acquiring an additional 400 shares during the period. Moody National Bank Trust Division lifted its holdings in Prologis by 0.3% during the fourth quarter. Moody National Bank Trust Division now owns 138,112 shares of the real estate investment trust’s stock worth $8,110,000 after acquiring an additional 412 shares during the period. Avitas Wealth Management LLC lifted its holdings in Prologis by 2.0% during the third quarter. Avitas Wealth Management LLC now owns 40,435 shares of the real estate investment trust’s stock worth $2,741,000 after acquiring an additional 803 shares during the period. Finally, Quadrant Capital Group LLC lifted its holdings in Prologis by 48.7% during the third quarter. Quadrant Capital Group LLC now owns 2,507 shares of the real estate investment trust’s stock worth $158,000 after acquiring an additional 821 shares during the period. Institutional investors own 94.88% of the company’s stock.

About Prologis

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of September 30, 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 771 million square feet (72 million square meters) in 19 countries.

See Also: Price to Earnings Ratio (PE) Basics

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