Prologis Inc (NYSE:PLD) – Jefferies Group decreased their Q4 2017 earnings estimates for shares of Prologis in a research report issued to clients and investors on Thursday. Jefferies Group analyst J. Petersen now expects that the real estate investment trust will earn $0.66 per share for the quarter, down from their prior forecast of $0.67. Jefferies Group has a “Hold” rating and a $66.00 price objective on the stock. Jefferies Group also issued estimates for Prologis’ FY2018 earnings at $2.85 EPS and FY2019 earnings at $3.05 EPS.
Prologis (NYSE:PLD) last announced its quarterly earnings results on Tuesday, October 17th. The real estate investment trust reported $0.67 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.67. Prologis had a return on equity of 9.93% and a net margin of 68.50%. The business had revenue of $531.18 million during the quarter, compared to the consensus estimate of $573.68 million. During the same quarter in the prior year, the company posted $0.14 earnings per share. Prologis’s revenue was down 5.2% compared to the same quarter last year.
Shares of Prologis (NYSE PLD) opened at $63.01 on Friday. Prologis has a 1-year low of $48.33 and a 1-year high of $67.53. The stock has a market capitalization of $33,547.77, a price-to-earnings ratio of 22.76, a P/E/G ratio of 4.15 and a beta of 0.91. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.53.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. National Asset Management Inc. lifted its holdings in Prologis by 1.5% during the 2nd quarter. National Asset Management Inc. now owns 5,137 shares of the real estate investment trust’s stock worth $302,000 after purchasing an additional 75 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in Prologis by 0.3% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 39,399 shares of the real estate investment trust’s stock worth $2,310,000 after purchasing an additional 133 shares in the last quarter. Miles Capital Inc. lifted its holdings in Prologis by 1.5% during the 2nd quarter. Miles Capital Inc. now owns 10,345 shares of the real estate investment trust’s stock worth $607,000 after purchasing an additional 157 shares in the last quarter. Oppenheimer & Co. Inc. lifted its holdings in Prologis by 0.5% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 38,263 shares of the real estate investment trust’s stock worth $2,244,000 after purchasing an additional 192 shares in the last quarter. Finally, People s United Financial Inc. lifted its holdings in Prologis by 0.8% during the 2nd quarter. People s United Financial Inc. now owns 32,510 shares of the real estate investment trust’s stock worth $1,906,000 after purchasing an additional 250 shares in the last quarter. 95.36% of the stock is currently owned by institutional investors and hedge funds.
In other news, CFO Thomas S. Olinger sold 46,200 shares of the company’s stock in a transaction on Monday, December 18th. The stock was sold at an average price of $66.33, for a total transaction of $3,064,446.00. Following the transaction, the chief financial officer now owns 36,325 shares of the company’s stock, valued at approximately $2,409,437.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Eugene F. Reilly sold 15,000 shares of the company’s stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $66.61, for a total value of $999,150.00. Following the transaction, the chief executive officer now directly owns 63,365 shares in the company, valued at approximately $4,220,742.65. The disclosure for this sale can be found here. Insiders have sold a total of 84,100 shares of company stock worth $5,584,357 in the last ninety days. Insiders own 1.31% of the company’s stock.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Monday, December 18th will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is Friday, December 15th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.79%. Prologis’s dividend payout ratio is presently 52.85%.
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Prologis, Inc is a real estate investment trust (REIT) company. The Company is engaged in logistics real estate business. The Company’s segments include Real Estate Operations and Strategic Capital. The Real estate operations segment consists of rental operations and development. The Company’s strategic capital segment includes asset management services, as well as services performed for unconsolidated co-investment ventures.
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