Analysts Anticipate ProLogis, Inc. (NYSE:PLD) to Post $0.66 EPS
Equities research analysts predict that ProLogis, Inc. (NYSE:PLD) will post earnings per share of $0.66 for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for ProLogis’ earnings, with the lowest EPS estimate coming in at $0.64 and the highest estimate coming in at $0.68. ProLogis posted earnings of $0.73 per share in the same quarter last year, which indicates a negative year over year growth rate of 9.6%. The business is expected to report its next quarterly earnings results on Thursday, October 19th.
On average, analysts expect that ProLogis will report full year earnings of $2.80 per share for the current year, with EPS estimates ranging from $2.77 to $2.82. For the next year, analysts expect that the firm will report earnings of $2.91 per share, with EPS estimates ranging from $2.77 to $2.98. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that follow ProLogis.
ProLogis (NYSE:PLD) last posted its quarterly earnings data on Tuesday, July 18th. The real estate investment trust reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.06. ProLogis had a return on equity of 6.64% and a net margin of 43.99%. The business had revenue of $766.18 million during the quarter, compared to analysts’ expectations of $576 million. During the same quarter in the previous year, the firm earned $0.60 EPS. The firm’s revenue was up 27.2% compared to the same quarter last year.
Several brokerages have issued reports on PLD. Jefferies Group LLC restated a “hold” rating and set a $60.00 price objective (up from $54.00) on shares of ProLogis in a research report on Sunday, June 25th. Zacks Investment Research upgraded shares of ProLogis from a “hold” rating to a “buy” rating and set a $63.00 price objective for the company in a research report on Wednesday, June 7th. Evercore ISI raised their price objective on shares of ProLogis from $58.00 to $59.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 19th. BTIG Research restated a “buy” rating and set a $57.00 price objective on shares of ProLogis in a research report on Tuesday, April 11th. Finally, Stifel Nicolaus restated a “buy” rating and set a $60.00 price objective on shares of ProLogis in a research report on Thursday, July 6th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. ProLogis presently has a consensus rating of “Buy” and an average price target of $58.50.
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In related news, CEO Gary E. Anderson sold 65,000 shares of ProLogis stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $58.55, for a total value of $3,805,750.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Hamid R. Moghadam sold 271,788 shares of ProLogis stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $56.04, for a total transaction of $15,230,999.52. Following the completion of the transaction, the chief executive officer now directly owns 36,997 shares in the company, valued at $2,073,311.88. The disclosure for this sale can be found here. Insiders sold 544,572 shares of company stock worth $30,610,686 over the last three months. 1.31% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. APG Asset Management N.V. boosted its position in shares of ProLogis by 12.1% in the second quarter. APG Asset Management N.V. now owns 2,366,478 shares of the real estate investment trust’s stock worth $138,770,000 after buying an additional 254,785 shares during the period. Forsta AP Fonden boosted its position in shares of ProLogis by 157.4% in the second quarter. Forsta AP Fonden now owns 157,000 shares of the real estate investment trust’s stock worth $9,206,000 after buying an additional 96,000 shares during the period. Whittier Trust Co. boosted its position in shares of ProLogis by 0.5% in the second quarter. Whittier Trust Co. now owns 91,361 shares of the real estate investment trust’s stock worth $5,357,000 after buying an additional 424 shares during the period. US Bancorp DE boosted its position in shares of ProLogis by 14.8% in the second quarter. US Bancorp DE now owns 91,448 shares of the real estate investment trust’s stock worth $5,362,000 after buying an additional 11,819 shares during the period. Finally, Bedrijfstakpensioenfonds Voor DE Media PNO purchased a new position in shares of ProLogis during the second quarter worth about $2,011,000. 95.55% of the stock is currently owned by institutional investors and hedge funds.
ProLogis (NYSE PLD) traded down 0.30% during trading on Friday, hitting $58.99. The company had a trading volume of 1,524,318 shares. ProLogis has a one year low of $45.93 and a one year high of $60.47. The stock has a 50-day moving average of $57.95 and a 200-day moving average of $53.77. The stock has a market capitalization of $31.28 billion, a PE ratio of 26.19 and a beta of 0.94.
The company also recently disclosed 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 2.97%. 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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