FY2019 EPS Estimates for Prologis Inc (NYSE:PLD) Raised by Analyst

Prologis Inc (NYSE:PLD) – Investment analysts at SunTrust Banks raised their FY2019 earnings estimates for Prologis in a research report issued to clients and investors on Thursday, October 17th. SunTrust Banks analyst K. Kim now expects that the real estate investment trust will earn $3.30 per share for the year, up from their prior estimate of $3.27. SunTrust Banks currently has a “Buy” rating and a $95.00 price objective on the stock. SunTrust Banks also issued estimates for Prologis’ FY2020 earnings at $3.50 EPS, FY2021 earnings at $3.75 EPS, FY2022 earnings at $3.93 EPS and FY2023 earnings at $4.23 EPS.

Other equities analysts have also issued research reports about the company. Stifel Nicolaus set a $95.00 price objective on Prologis and gave the company a “buy” rating in a research note on Tuesday, October 15th. Barclays set a $92.00 price objective on Prologis and gave the company a “buy” rating in a research note on Friday, October 11th. Evercore ISI set a $80.00 price target on Prologis and gave the company a “hold” rating in a research note on Monday, August 12th. ValuEngine lowered Prologis from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Wells Fargo & Co lifted their price target on Prologis from $84.00 to $91.00 and gave the company a “market perform” rating in a research note on Thursday, October 17th. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Prologis has an average rating of “Buy” and an average price target of $87.81.

NYSE PLD opened at $90.81 on Monday. The stock has a 50-day simple moving average of $85.72 and a two-hundred day simple moving average of $80.39. The firm has a market capitalization of $56.56 billion, a P/E ratio of 29.97, a PEG ratio of 4.78 and a beta of 1.01. Prologis has a fifty-two week low of $55.21 and a fifty-two week high of $91.52. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.54 and a current ratio of 0.50.

Prologis (NYSE:PLD) last announced its earnings results on Tuesday, October 15th. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.23. The business had revenue of $712.00 million for the quarter, compared to analysts’ expectations of $715.40 million. Prologis had a return on equity of 6.92% and a net margin of 53.87%. The business’s revenue for the quarter was up 16.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.72 EPS.

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 20th were paid a $0.53 dividend. The ex-dividend date was Thursday, September 19th. This represents a $2.12 annualized dividend and a dividend yield of 2.33%. Prologis’s dividend payout ratio is presently 69.97%.

In related news, insider Eugene F. Reilly sold 12,500 shares of Prologis stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $81.72, for a total value of $1,021,500.00. Following the completion of the transaction, the insider now owns 10,685 shares in the company, valued at approximately $873,178.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.10% of the stock is owned by insiders.

A number of hedge funds have recently bought and sold shares of PLD. Nuveen Asset Management LLC boosted its holdings in Prologis by 320.0% in the 2nd quarter. Nuveen Asset Management LLC now owns 9,862,940 shares of the real estate investment trust’s stock worth $790,021,000 after buying an additional 7,514,715 shares during the last quarter. Invesco Ltd. boosted its holdings in Prologis by 52.6% in the 2nd quarter. Invesco Ltd. now owns 16,686,890 shares of the real estate investment trust’s stock worth $1,336,620,000 after buying an additional 5,752,196 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Prologis by 22.6% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 20,391,209 shares of the real estate investment trust’s stock worth $1,633,336,000 after buying an additional 3,763,203 shares during the last quarter. Bahl & Gaynor Inc. boosted its holdings in Prologis by 2,834.2% in the 2nd quarter. Bahl & Gaynor Inc. now owns 702,506 shares of the real estate investment trust’s stock worth $56,271,000 after buying an additional 678,564 shares during the last quarter. Finally, Artemis Investment Management LLP boosted its holdings in Prologis by 58.7% in the 2nd quarter. Artemis Investment Management LLP now owns 1,438,235 shares of the real estate investment trust’s stock worth $114,944,000 after buying an additional 531,932 shares during the last quarter. Institutional investors own 95.86% of the company’s stock.

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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