FY2017 EPS Estimates for ProLogis, Inc. (PLD) Lifted by Analyst
ProLogis, Inc. (NYSE:PLD) – Cantor Fitzgerald raised their FY2017 earnings per share estimates for ProLogis in a research report issued on Wednesday. Cantor Fitzgerald analyst G. Mehta now forecasts that the real estate investment trust will post earnings of $2.82 per share for the year, up from their previous estimate of $2.76. Cantor Fitzgerald also issued estimates for ProLogis’ FY2018 earnings at $2.94 EPS.
Other analysts have also issued research reports about the company. Stifel Nicolaus upped their target price on ProLogis from $57.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, May 30th. Zacks Investment Research upgraded ProLogis from a “hold” rating to a “buy” rating and set a $62.00 target price for the company in a report on Monday, May 22nd. BidaskClub lowered ProLogis from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 21st. Royal Bank Of Canada restated a “buy” rating and set a $59.00 target price on shares of ProLogis in a report on Thursday, June 8th. Finally, BTIG Research restated a “buy” rating and set a $57.00 target price on shares of ProLogis in a report on Tuesday, April 11th. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $57.47.
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ProLogis (NYSE:PLD) opened at 60.12 on Thursday. ProLogis has a 52 week low of $45.93 and a 52 week high of $60.47. The firm’s 50-day moving average price is $57.84 and its 200-day moving average price is $53.73. The stock has a market cap of $31.88 billion, a PE ratio of 26.70 and a beta of 0.94.
ProLogis (NYSE:PLD) last announced its quarterly earnings data on Tuesday, July 18th. The real estate investment trust reported $0.84 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.06. The business had revenue of $766.18 million during the quarter, compared to analysts’ expectations of $576 million. ProLogis had a return on equity of 6.64% and a net margin of 43.99%. The firm’s quarterly revenue was up 27.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.60 earnings per share.
A number of institutional investors have recently modified their holdings of the company. Creative Planning raised its position 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 worth $104,000 after buying an additional 234 shares during the period. Guardian Life Insurance Co. of America raised its position in shares of ProLogis by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 2,039 shares of the real estate investment trust’s stock worth $106,000 after buying an additional 14 shares during the period. IFP Advisors Inc raised its position in shares of ProLogis by 10.7% in the first quarter. IFP Advisors Inc now owns 2,249 shares of the real estate investment trust’s stock worth $117,000 after buying an additional 218 shares during the period. Independent Portfolio Consultants Inc. raised its position in shares of ProLogis by 82.0% in the second quarter. Independent Portfolio Consultants Inc. now owns 2,718 shares of the real estate investment trust’s stock worth $159,000 after buying an additional 1,225 shares during the period. Finally, Solaris Asset Management LLC raised its position in shares of ProLogis by 1.8% in the first quarter. Solaris Asset Management LLC now owns 2,825 shares of the real estate investment trust’s stock worth $147,000 after buying an additional 50 shares during the period. Institutional investors own 95.55% of the company’s stock.
In related news, CEO Gary E. Anderson sold 65,000 shares of the firm’s stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $58.55, for a total value of $3,805,750.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Lori A. Palazzolo sold 6,540 shares of the firm’s stock in a transaction on Wednesday, May 3rd. The stock was sold at an average price of $53.95, for a total value of $352,833.00. Following the completion of the transaction, the insider now owns 3,315 shares of the company’s stock, valued at approximately $178,844.25. The disclosure for this sale can be found here. Insiders sold a total of 565,001 shares of company stock valued at $31,723,862 in the last 90 days. 1.31% of the stock is currently owned by company insiders.
The company also recently announced a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Wednesday, June 14th were paid a $0.44 dividend. The ex-dividend date of this dividend was Monday, June 12th. This represents a $1.76 dividend on an annualized basis and a yield of 2.93%. ProLogis’s dividend payout ratio (DPR) is 79.28%.
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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