Prologis Inc (PLD) Expected to Post Quarterly Sales of $705.45 Million

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Equities research analysts expect Prologis Inc (NYSE:PLD) to announce $705.45 million in sales for the current fiscal quarter, Zacks reports. Five analysts have made estimates for Prologis’ earnings, with estimates ranging from $703.80 million to $707.80 million. Prologis reported sales of $544.68 million in the same quarter last year, which would suggest a positive year over year growth rate of 29.5%. The firm is scheduled to announce its next quarterly earnings results on Tuesday, July 16th.

According to Zacks, analysts expect that Prologis will report full-year sales of $2.85 billion for the current financial year, with estimates ranging from $2.83 billion to $2.89 billion. For the next fiscal year, analysts forecast that the business will post sales of $3.05 billion, with estimates ranging from $2.93 billion to $3.29 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Prologis.

Prologis (NYSE:PLD) last posted its earnings results on Tuesday, April 16th. The real estate investment trust reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. The company had revenue of $696.80 million during the quarter, compared to analyst estimates of $687.21 million. Prologis had a return on equity of 6.83% and a net margin of 56.56%. Prologis’s revenue was up 25.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.80 earnings per share.

A number of research firms have weighed in on PLD. Zacks Investment Research lowered Prologis from a “buy” rating to a “hold” rating in a report on Friday, May 10th. BMO Capital Markets restated a “buy” rating and set a $70.00 target price on shares of Prologis in a report on Sunday, April 21st. Goldman Sachs Group began coverage on Prologis in a report on Wednesday, May 15th. They set a “conviction-buy” rating for the company. Citigroup upped their target price on Prologis from $73.00 to $86.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Finally, Robert W. Baird lowered Prologis from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $73.00 to $71.00 in a report on Friday, March 1st. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Prologis has a consensus rating of “Buy” and a consensus target price of $74.15.

Prologis stock opened at $75.41 on Monday. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.42. The firm has a market cap of $48.46 billion, a price-to-earnings ratio of 24.89, a P/E/G ratio of 4.27 and a beta of 1.03. Prologis has a twelve month low of $55.21 and a twelve month high of $78.56.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, June 13th will be issued a dividend of $0.53 per share. The ex-dividend date of this dividend is Wednesday, June 12th. This represents a $2.12 annualized dividend and a dividend yield of 2.81%. Prologis’s dividend payout ratio is presently 69.97%.

In other news, insider Edward S. Nekritz sold 30,671 shares of the stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $75.01, for a total transaction of $2,300,631.71. Following the completion of the sale, the insider now owns 21,121 shares in the company, valued at approximately $1,584,286.21. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Edward S. Nekritz sold 16,059 shares of the stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $71.86, for a total value of $1,153,999.74. Following the sale, the insider now owns 51,792 shares of the company’s stock, valued at approximately $3,721,773.12. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Berman Capital Advisors LLC increased its position in shares of Prologis by 105.3% in the 1st quarter. Berman Capital Advisors LLC now owns 388 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 199 shares during the period. Cresset Asset Management LLC acquired a new position in shares of Prologis in the 1st quarter valued at $29,000. Benjamin F. Edwards & Company Inc. increased its position in shares of Prologis by 134.5% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 523 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 300 shares during the period. Lindbrook Capital LLC acquired a new position in shares of Prologis in the 4th quarter valued at $33,000. Finally, PRW Wealth Management LLC acquired a new stake in Prologis during the 4th quarter worth about $33,000. Hedge funds and other institutional investors own 94.52% of the company’s stock.

Prologis Company Profile

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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