Prologis Inc (NYSE:PLD) – Research analysts at KeyCorp issued their Q2 2019 earnings estimates for Prologis in a research report issued on Monday, April 22nd. KeyCorp analyst C. Mailman expects that the real estate investment trust will post earnings per share of $0.78 for the quarter. KeyCorp currently has a “Buy” rating and a $79.00 target price on the stock. KeyCorp also issued estimates for Prologis’ Q3 2019 earnings at $0.91 EPS, Q4 2019 earnings at $0.83 EPS, FY2019 earnings at $3.24 EPS, Q1 2020 earnings at $0.81 EPS, Q2 2020 earnings at $0.88 EPS, Q3 2020 earnings at $0.87 EPS, Q4 2020 earnings at $0.91 EPS and FY2020 earnings at $3.47 EPS.
Several other equities analysts have also weighed in on PLD. BMO Capital Markets restated a “buy” rating and set a $70.00 price objective on shares of Prologis in a research report on Sunday. Robert W. Baird lowered shares of Prologis from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $73.00 to $71.00 in a research report on Friday, March 1st. ValuEngine upgraded shares of Prologis from a “hold” rating to a “buy” rating in a research report on Tuesday, January 15th. Barclays restated a “buy” rating on shares of Prologis in a research report on Thursday, February 21st. Finally, Wells Fargo & Co set a $65.00 price objective on shares of Prologis and gave the company a “market perform” rating in a research report on Wednesday, January 16th. They noted that the move was a valuation call. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $72.31.
Prologis (NYSE:PLD) last announced its earnings results on Tuesday, April 16th. The real estate investment trust reported $0.73 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.01. Prologis had a net margin of 56.56% and a return on equity of 6.82%. The firm had revenue of $696.80 million during the quarter, compared to analyst estimates of $687.21 million. During the same quarter in the prior year, the firm posted $0.80 EPS. Prologis’s revenue was up 25.3% compared to the same quarter last year.
The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 2.82%. This is a boost from Prologis’s previous quarterly dividend of $0.48. The ex-dividend date was Thursday, March 14th. Prologis’s dividend payout ratio (DPR) is presently 69.97%.
In other Prologis news, Director Philip L. Hawkins sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, January 30th. The shares were sold at an average price of $68.20, for a total value of $1,023,000.00. Following the completion of the transaction, the director now directly owns 44,511 shares in the company, valued at $3,035,650.20. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Edward S. Nekritz sold 32,499 shares of the firm’s stock in a transaction dated Wednesday, January 30th. The stock was sold at an average price of $68.32, for a total transaction of $2,220,331.68. Following the completion of the transaction, the insider now owns 91,158 shares of the company’s stock, valued at $6,227,914.56. The disclosure for this sale can be found here. Over the last quarter, insiders sold 127,126 shares of company stock valued at $8,895,929. Corporate insiders own 1.10% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Prologis by 134.5% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 523 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 300 shares during the period. Clean Yield Group acquired a new position in shares of Prologis in the fourth quarter worth about $31,000. PRW Wealth Management LLC acquired a new position in shares of Prologis in the fourth quarter worth about $33,000. Lindbrook Capital LLC acquired a new position in shares of Prologis in the fourth quarter worth about $33,000. Finally, Evolution Wealth Advisors LLC acquired a new position in shares of Prologis in the fourth quarter worth about $35,000. Institutional investors own 95.57% of the company’s stock.
Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of December 31, 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 768 million square feet (71 million square meters) in 19 countries.
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