Wall Street analysts expect that Prologis Inc (NYSE:PLD) will announce $0.71 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Prologis’ earnings, with the highest EPS estimate coming in at $0.72 and the lowest estimate coming in at $0.70. Prologis reported earnings per share of $0.67 in the same quarter last year, which would suggest a positive year over year growth rate of 6%. The company is expected to announce its next quarterly earnings results before the market opens on Tuesday, October 16th.
According to Zacks, analysts expect that Prologis will report full-year earnings of $3.01 per share for the current financial year, with EPS estimates ranging from $3.00 to $3.04. For the next fiscal year, analysts forecast that the firm will post earnings of $3.20 per share, with EPS estimates ranging from $3.14 to $3.32. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Prologis.
Prologis (NYSE:PLD) last posted its earnings results on Tuesday, July 17th. The real estate investment trust reported $0.71 EPS for the quarter, meeting the consensus estimate of $0.71. The firm had revenue of $621.00 million during the quarter, compared to the consensus estimate of $557.43 million. Prologis had a return on equity of 10.11% and a net margin of 74.17%. The business’s quarterly revenue was down 18.9% on a year-over-year basis. During the same period last year, the company earned $0.84 earnings per share.
In related news, Director William D. Zollars sold 8,020 shares of the firm’s stock in a transaction that occurred on Monday, July 23rd. The stock was sold at an average price of $62.45, for a total transaction of $500,849.00. Following the completion of the sale, the director now owns 11,490 shares of the company’s stock, valued at $717,550.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Irving F. Lyons III sold 4,808 shares of the firm’s stock in a transaction that occurred on Friday, September 28th. The stock was sold at an average price of $67.45, for a total value of $324,299.60. Following the sale, the director now directly owns 9,863 shares of the company’s stock, valued at approximately $665,259.35. The disclosure for this sale can be found here. Insiders have sold 52,690 shares of company stock valued at $3,501,582 in the last ninety days. 1.32% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its stake in Prologis by 4.9% during the second quarter. BlackRock Inc. now owns 57,370,073 shares of the real estate investment trust’s stock worth $3,768,639,000 after purchasing an additional 2,674,518 shares during the period. Cbre Clarion Securities LLC grew its stake in Prologis by 2.7% in the second quarter. Cbre Clarion Securities LLC now owns 7,919,441 shares of the real estate investment trust’s stock valued at $520,228,000 after acquiring an additional 210,819 shares during the period. Dimensional Fund Advisors LP grew its stake in Prologis by 1.2% in the second quarter. Dimensional Fund Advisors LP now owns 7,900,910 shares of the real estate investment trust’s stock valued at $519,006,000 after acquiring an additional 90,370 shares during the period. Bank of America Corp DE grew its stake in Prologis by 7.1% in the second quarter. Bank of America Corp DE now owns 6,028,563 shares of the real estate investment trust’s stock valued at $396,017,000 after acquiring an additional 400,104 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in Prologis by 5.9% in the second quarter. Bank of New York Mellon Corp now owns 5,760,288 shares of the real estate investment trust’s stock valued at $378,393,000 after acquiring an additional 318,616 shares during the period. 80.59% of the stock is owned by institutional investors and hedge funds.
Prologis stock traded down $0.30 during trading hours on Friday, hitting $62.54. The stock had a trading volume of 3,529,253 shares, compared to its average volume of 2,999,074. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $42.67 billion, a PE ratio of 22.26, a P/E/G ratio of 4.43 and a beta of 0.72. Prologis has a one year low of $58.28 and a one year high of $68.20.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 28th. Investors of record on Monday, September 17th were paid a dividend of $0.48 per share. The ex-dividend date of this dividend was Friday, September 14th. This represents a $1.92 annualized dividend and a yield of 3.07%. Prologis’s dividend payout ratio is currently 68.33%.
Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of June 30, 2018, 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 685 million square feet (64 million square meters) in 19 countries.
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