FY2024 EPS Estimates for Prologis Raised by Zacks Research

Prologis, Inc. (NYSE:PLD) – Zacks Research increased their FY2024 earnings per share (EPS) estimates for shares of Prologis in a report issued on Wednesday, November 6th. Zacks Research analyst R. Department now expects that the real estate investment trust will post earnings of $5.43 per share for the year, up from their previous estimate of $5.39. The consensus estimate for Prologis’ current full-year earnings is $5.45 per share. Zacks Research also issued estimates for Prologis’ Q4 2024 earnings at $1.38 EPS, Q1 2025 earnings at $1.39 EPS, Q2 2025 earnings at $1.44 EPS, Q3 2025 earnings at $1.52 EPS, Q4 2025 earnings at $1.51 EPS, FY2025 earnings at $5.86 EPS, Q1 2026 earnings at $1.55 EPS, Q2 2026 earnings at $1.58 EPS, Q3 2026 earnings at $1.64 EPS and FY2026 earnings at $6.43 EPS.

Prologis (NYSE:PLD) last issued its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). Prologis had a return on equity of 5.34% and a net margin of 39.08%. The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same period in the prior year, the firm earned $1.30 earnings per share. The business’s revenue was up 6.9% on a year-over-year basis.

Several other equities analysts also recently weighed in on PLD. Royal Bank of Canada downgraded shares of Prologis from an “outperform” rating to a “sector perform” rating and raised their price target for the stock from $124.00 to $127.00 in a research note on Monday, August 5th. Scotiabank decreased their target price on shares of Prologis from $142.00 to $136.00 and set a “sector outperform” rating on the stock in a research note on Friday, October 25th. JPMorgan Chase & Co. dropped their price target on Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. The Goldman Sachs Group reiterated a “neutral” rating and set a $132.00 price objective (down previously from $142.00) on shares of Prologis in a research report on Monday, October 21st. Finally, Evercore ISI upped their target price on Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Eight investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Prologis presently has an average rating of “Moderate Buy” and an average price target of $131.12.

Prologis Trading Down 1.2 %

Shares of PLD opened at $112.75 on Monday. Prologis has a 52-week low of $101.11 and a 52-week high of $137.52. The stock has a market cap of $104.43 billion, a PE ratio of 34.06, a price-to-earnings-growth ratio of 3.04 and a beta of 1.08. The firm’s fifty day moving average is $122.42 and its two-hundred day moving average is $117.85. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.56.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PLD. American Capital Advisory LLC acquired a new stake in Prologis during the 2nd quarter worth approximately $26,000. Semmax Financial Advisors Inc. purchased a new stake in shares of Prologis during the second quarter worth $27,000. Central Valley Advisors LLC acquired a new stake in shares of Prologis in the second quarter valued at $29,000. Sunbelt Securities Inc. boosted its holdings in Prologis by 640.0% in the second quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 224 shares during the period. Finally, Wetzel Investment Advisors Inc. acquired a new position in Prologis during the 2nd quarter worth $31,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Insider Buying and Selling

In related news, CIO Joseph Ghazal sold 5,200 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $129.07, for a total value of $671,164.00. Following the sale, the executive now owns 13,187 shares in the company, valued at approximately $1,702,046.09. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.50% of the stock is currently owned by corporate insiders.

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a $0.96 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.84 annualized dividend and a dividend yield of 3.41%. Prologis’s dividend payout ratio is currently 116.01%.

Prologis Company Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At March 31, 2024, 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 1.2 billion square feet (115 million square meters) in 19 countries.