Zacks: Brokerages Anticipate Prologis Inc (NYSE:PLD) to Post $0.88 Earnings Per Share

Equities research analysts predict that Prologis Inc (NYSE:PLD) will report $0.88 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Prologis’ earnings. The lowest EPS estimate is $0.87 and the highest is $0.92. Prologis reported earnings of $0.97 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 9.3%. The firm is scheduled to announce its next earnings results on Tuesday, October 20th.

According to Zacks, analysts expect that Prologis will report full-year earnings of $3.73 per share for the current fiscal year, with EPS estimates ranging from $3.70 to $3.85. For the next financial year, analysts expect that the firm will report earnings of $3.79 per share, with EPS estimates ranging from $3.65 to $4.05. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that follow Prologis.

Prologis (NYSE:PLD) last issued its quarterly earnings data on Tuesday, July 21st. The real estate investment trust reported $0.54 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.08. Prologis had a return on equity of 5.55% and a net margin of 43.27%. The company had revenue of $945.00 million during the quarter, compared to analyst estimates of $921.45 million. During the same quarter in the previous year, the company posted $0.77 earnings per share. Prologis’s revenue was up 34.8% compared to the same quarter last year.

A number of analysts have commented on PLD shares. Citigroup upped their target price on shares of Prologis from $93.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, August 13th. Royal Bank of Canada boosted their price target on Prologis from $102.00 to $108.00 and gave the company an “outperform” rating in a report on Tuesday, July 28th. BMO Capital Markets assumed coverage on Prologis in a research note on Wednesday, July 22nd. They issued a “buy” rating and a $111.00 price objective on the stock. Jefferies Financial Group increased their target price on shares of Prologis from $105.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, July 27th. Finally, Morgan Stanley lifted their price target on shares of Prologis from $91.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday, August 11th. Three analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Prologis presently has a consensus rating of “Buy” and an average price target of $103.13.

Shares of NYSE PLD traded up $2.64 during midday trading on Tuesday, hitting $99.19. 3,117,898 shares of the company’s stock traded hands, compared to its average volume of 3,814,556. The firm has a fifty day moving average of $102.08 and a 200 day moving average of $91.90. Prologis has a 1 year low of $59.82 and a 1 year high of $106.73. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.48 and a current ratio of 0.48. The stock has a market capitalization of $73.28 billion, a price-to-earnings ratio of 38.75, a price-to-earnings-growth ratio of 3.50 and a beta of 0.89.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Thursday, September 17th will be given a $0.58 dividend. The ex-dividend date is Wednesday, September 16th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.34%. Prologis’s dividend payout ratio is currently 70.09%.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Great Lakes Advisors LLC boosted its holdings in shares of Prologis by 23.8% in the 2nd quarter. Great Lakes Advisors LLC now owns 77,326 shares of the real estate investment trust’s stock worth $7,217,000 after purchasing an additional 14,886 shares during the period. AXA boosted its stake in shares of Prologis by 26.1% during the 1st quarter. AXA now owns 1,602,684 shares of the real estate investment trust’s stock worth $128,808,000 after purchasing an additional 332,143 shares during the period. State Street Corp grew its holdings in Prologis by 17.2% during the 1st quarter. State Street Corp now owns 48,037,125 shares of the real estate investment trust’s stock valued at $3,860,744,000 after purchasing an additional 7,043,958 shares during the last quarter. Envestnet Asset Management Inc. raised its position in Prologis by 16.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 613,907 shares of the real estate investment trust’s stock worth $57,296,000 after purchasing an additional 86,971 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. lifted its stake in Prologis by 12.8% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 64,221 shares of the real estate investment trust’s stock worth $5,994,000 after purchasing an additional 7,264 shares during the last quarter. Institutional investors own 94.75% 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 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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