Q4 2017 EPS Estimates for Prologis Inc (PLD) Raised by Oppenheimer Holdings
Prologis Inc (NYSE:PLD) – Equities researchers at Oppenheimer Holdings increased their Q4 2017 earnings per share estimates for shares of Prologis in a note issued to investors on Wednesday. Oppenheimer Holdings analyst S. Manaker now expects that the real estate investment trust will post earnings of $0.72 per share for the quarter, up from their previous forecast of $0.70. Oppenheimer Holdings also issued estimates for Prologis’ Q2 2018 earnings at $0.72 EPS.
Prologis (NYSE:PLD) last announced its quarterly earnings results on Tuesday, April 18th. The real estate investment trust reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.01. Prologis had a net margin of 47.76% and a return on equity of 6.62%. The firm earned $629.16 million during the quarter, compared to the consensus estimate of $555.37 million. During the same period last year, the firm posted $0.61 EPS. The firm’s quarterly revenue was up 3.8% on a year-over-year basis.
A number of other brokerages have also issued reports on PLD. Zacks Investment Research upgraded shares of Prologis from a “hold” rating to a “buy” rating and set a $61.00 price objective for the company in a report on Friday. Evercore ISI raised their price objective on shares of Prologis from $58.00 to $59.00 and gave the company an “outperform” rating in a report on Wednesday. BTIG Research reiterated a “buy” rating and issued a $57.00 price objective on shares of Prologis in a report on Tuesday, April 11th. Barclays PLC reiterated 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. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $52.00 price objective on shares of Prologis in a report on Tuesday, February 14th. Eight research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $54.07.
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Shares of Prologis (NYSE:PLD) traded down 0.06% during trading on Friday, reaching $54.50. 1,414,972 shares of the company traded hands. The stock has a market capitalization of $28.85 billion, a PE ratio of 24.02 and a beta of 1.05. The company has a 50-day moving average of $51.77 and a 200-day moving average of $51.15. Prologis has a 12 month low of $44.36 and a 12 month high of $55.93.
Several hedge funds have recently made changes to their positions in the company. DnB Asset Management AS increased its stake in shares of Prologis by 3.2% in the third quarter. DnB Asset Management AS now owns 55,298 shares of the real estate investment trust’s stock valued at $2,307,000 after buying an additional 1,700 shares during the period. Northpointe Capital LLC increased its stake in shares of Prologis by 4.5% in the third quarter. Northpointe Capital LLC now owns 91,802 shares of the real estate investment trust’s stock valued at $4,915,000 after buying an additional 3,935 shares during the period. Meag Munich Ergo Kapitalanlagegesellschaft MBH increased its stake in shares of Prologis by 147.8% in the third quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 390,467 shares of the real estate investment trust’s stock valued at $21,019,000 after buying an additional 232,867 shares during the period. Old Mutual Global Investors UK Ltd. bought a new stake in shares of Prologis during the third quarter valued at approximately $4,466,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in shares of Prologis by 2.1% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 167,049 shares of the real estate investment trust’s stock valued at $8,944,000 after buying an additional 3,468 shares during the period.
In other news, insider Edward S. Nekritz sold 84,434 shares of the firm’s stock in a transaction that occurred on Monday, March 20th. The shares were sold at an average price of $51.45, for a total transaction of $4,344,129.30. Following the completion of the sale, the insider now owns 202,115 shares of the company’s stock, valued at approximately $10,398,816.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Eugene F. Reilly sold 70,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 16th. The stock was sold at an average price of $50.72, for a total transaction of $3,550,400.00. Following the sale, the chief executive officer now directly owns 150,650 shares of the company’s stock, valued at approximately $7,640,968. The disclosure for this sale can be found here. Company insiders own 1.29% of the company’s stock.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 31st. Stockholders of record on Wednesday, March 15th were given a dividend of $0.44 per share. This is an increase from Prologis’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Monday, March 13th. This represents a $1.76 annualized dividend and a dividend yield of 3.23%. Prologis’s dividend payout ratio (DPR) is 74.67%.
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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