Prologis Inc (NYSE:PLD) – Analysts at Jefferies Financial Group boosted their Q3 2019 earnings per share (EPS) estimates for Prologis in a note issued to investors on Wednesday, July 17th. Jefferies Financial Group analyst J. Petersen now expects that the real estate investment trust will post earnings per share of $0.93 for the quarter, up from their prior forecast of $0.90. Jefferies Financial Group also issued estimates for Prologis’ Q4 2019 earnings at $0.87 EPS, Q1 2020 earnings at $0.87 EPS, Q2 2020 earnings at $0.88 EPS, Q3 2020 earnings at $0.89 EPS, Q4 2020 earnings at $0.90 EPS, FY2020 earnings at $3.54 EPS, Q1 2021 earnings at $0.91 EPS, Q2 2021 earnings at $0.92 EPS and FY2021 earnings at $3.68 EPS.
A number of other research analysts have also commented on PLD. Zacks Investment Research lowered G1 Therapeutics from a “buy” rating to a “hold” rating in a report on Thursday, May 16th. Goldman Sachs Group started coverage on Liberty Property Trust in a report on Wednesday, May 15th. They issued a “neutral” rating and a $49.00 price objective on the stock. Morgan Stanley lowered Meili from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $14.00 to $4.20 in a report on Monday, June 3rd. KeyCorp upped their price objective on Terreno Realty from $49.00 to $52.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Finally, Deutsche Bank upped their price objective on eBay from $42.00 to $46.00 and gave the company a “buy” rating in a report on Thursday. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Prologis has a consensus rating of “Buy” and an average target price of $76.58.
Prologis (NYSE:PLD) last posted its quarterly earnings results on Monday, July 15th. The real estate investment trust reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.16). Prologis had a net margin of 55.04% and a return on equity of 6.55%. The business had revenue of $700.69 million during the quarter, compared to the consensus estimate of $704.19 million. During the same quarter last year, the company posted $0.71 EPS. The firm’s revenue was up 28.6% on a year-over-year basis.
The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Thursday, June 13th were issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 2.63%. The ex-dividend date of this dividend was Wednesday, June 12th. Prologis’s dividend payout ratio (DPR) is currently 69.97%.
In related news, insider Edward S. Nekritz sold 30,671 shares of the company’s stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $75.01, for a total transaction of $2,300,631.71. Following the completion of the sale, the insider now directly owns 21,121 shares in the company, valued at approximately $1,584,286.21. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Philip L. Hawkins sold 9,000 shares of the company’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $78.72, for a total value of $708,480.00. Following the sale, the director now owns 35,511 shares of the company’s stock, valued at $2,795,425.92. The disclosure for this sale can be found here. 1.10% of the stock is owned by corporate insiders.
Several hedge funds have recently made changes to their positions in the stock. Berman Capital Advisors LLC raised its position in Prologis by 105.3% in the first quarter. Berman Capital Advisors LLC now owns 388 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 199 shares during the last quarter. Thor Advisors LLC bought a new position in Prologis in the first quarter valued at about $37,000. Hexavest Inc. bought a new position in Prologis in the second quarter valued at about $42,000. Rational Advisors LLC raised its position in Prologis by 61.8% in the first quarter. Rational Advisors LLC now owns 618 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 236 shares during the last quarter. Finally, Aspire Private Capital LLC bought a new position in Prologis in the fourth quarter valued at about $50,000. Institutional investors and hedge funds own 95.42% of the company’s stock.
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.
See Also: Systematic Risk
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.