Capital One Financial Corp. Analysts Raise Earnings Estimates for Prologis Inc (PLD)
Prologis Inc (NYSE:PLD) – Stock analysts at Capital One Financial Corp. boosted their Q1 2017 earnings per share (EPS) estimates for shares of Prologis in a note issued to investors on Monday. Capital One Financial Corp. analyst T. Lesnick now anticipates that the real estate investment trust will post earnings per share of $0.62 for the quarter, up from their prior estimate of $0.61. Capital One Financial Corp. also issued estimates for Prologis’ Q3 2017 earnings at $0.65 EPS and FY2018 earnings at $2.77 EPS.
PLD has been the subject of several other research reports. Barclays PLC restated an “overweight” rating and issued a $54.00 price objective (down previously from $58.00) on shares of Prologis in a report on Monday, January 23rd. Zacks Investment Research lowered Prologis from a “buy” rating to a “hold” rating in a report on Wednesday, January 11th. Jefferies Group LLC restated a “hold” rating and issued a $52.00 price objective on shares of Prologis in a report on Tuesday, February 14th. BTIG Research restated a “buy” rating and issued a $57.00 price objective on shares of Prologis in a report on Tuesday, April 11th. Finally, Evercore ISI restated an “outperform” rating and issued a $59.00 price objective (up previously from $58.00) on shares of Prologis in a report on Wednesday. Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $53.94.
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Shares of Prologis (NYSE:PLD) opened at 54.30 on Thursday. The firm has a 50-day moving average price of $51.67 and a 200-day moving average price of $51.13. The firm has a market cap of $28.74 billion, a P/E ratio of 23.93 and a beta of 1.05. Prologis has a 12-month low of $43.96 and a 12-month high of $55.93.
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Prologis (NYSE:PLD) last released its earnings results on Tuesday, April 18th. The real estate investment trust reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.01. Prologis had a return on equity of 6.62% and a net margin of 47.76%. The company earned $629.16 million during the quarter, compared to the consensus estimate of $555.37 million. During the same quarter last year, the company earned $0.61 earnings per share. Prologis’s quarterly revenue was up 3.8% compared to the same quarter last year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 31st. Investors of record on Wednesday, March 15th were paid a $0.44 dividend. This is an increase from Prologis’s previous quarterly dividend of $0.42. This represents a $1.76 annualized dividend and a yield of 3.24%. The ex-dividend date of this dividend was Monday, March 13th. Prologis’s dividend payout ratio is currently 74.67%.
In related news, insider Edward S. Nekritz sold 84,434 shares of the stock in a transaction dated Monday, March 20th. The stock was sold at an average price of $51.45, for a total value of $4,344,129.30. Following the completion of the sale, the insider now directly owns 202,115 shares of the company’s stock, valued at approximately $10,398,816.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Eugene F. Reilly sold 70,000 shares of the stock in a transaction dated Thursday, March 16th. The stock was sold at an average price of $50.72, for a total value of $3,550,400.00. Following the completion of the sale, the chief executive officer now directly owns 150,650 shares of the company’s stock, valued at $7,640,968. The disclosure for this sale can be found here. 1.29% of the stock is currently owned by corporate insiders.
A number of large investors have recently made changes to their positions in the company. Creative Planning increased its stake in shares of Prologis by 13.2% in the first quarter. Creative Planning now owns 2,009 shares of the real estate investment trust’s stock valued at $104,000 after buying an additional 234 shares in the last quarter. Solaris Asset Management LLC acquired a new stake in shares of Prologis during the third quarter valued at about $131,000. HighPoint Advisor Group LLC acquired a new stake in shares of Prologis during the third quarter valued at about $205,000. Bridgewater Wealth & Financial Management LLC acquired a new stake in shares of Prologis during the third quarter valued at about $210,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in shares of Prologis during the fourth quarter valued at about $215,000.
Prologis Company Profile
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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