Jefferies Financial Group Analysts Lift Earnings Estimates for Prologis, Inc. (NYSE:PLD)

Prologis, Inc. (NYSE:PLD) – Jefferies Financial Group increased their FY2021 earnings per share estimates for shares of Prologis in a note issued to investors on Monday, January 10th. Jefferies Financial Group analyst J. Petersen now anticipates that the real estate investment trust will earn $4.13 per share for the year, up from their prior estimate of $4.12. Jefferies Financial Group also issued estimates for Prologis’ Q4 2021 earnings at $1.11 EPS, Q1 2022 earnings at $1.07 EPS, Q4 2022 earnings at $1.14 EPS, FY2022 earnings at $4.64 EPS, Q2 2023 earnings at $1.29 EPS and Q3 2023 earnings at $1.19 EPS.

A number of other equities analysts also recently issued reports on PLD. Wells Fargo & Company increased their price objective on Prologis from $160.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday, November 19th. Royal Bank of Canada increased their price objective on Prologis from $144.00 to $164.00 and gave the stock an “outperform” rating in a report on Monday, November 8th. Morgan Stanley increased their price objective on Prologis from $165.00 to $175.00 and gave the stock an “overweight” rating in a report on Wednesday, December 15th. Raymond James increased their price objective on Prologis from $155.00 to $180.00 and gave the stock a “strong-buy” rating in a report on Monday. Finally, The Goldman Sachs Group upgraded Prologis from a “buy” rating to a “conviction-buy” rating and raised their price target for the company from $166.00 to $180.00 in a report on Thursday, October 21st. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $152.07.

Shares of PLD stock opened at $153.24 on Tuesday. The stock has a fifty day moving average of $156.11 and a 200 day moving average of $140.12. Prologis has a 52 week low of $94.14 and a 52 week high of $169.93. The firm has a market capitalization of $113.29 billion, a price-to-earnings ratio of 57.83, a PEG ratio of 5.07 and a beta of 0.81. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.47.

Prologis (NYSE:PLD) last released its quarterly earnings data on Thursday, October 14th. The real estate investment trust reported $0.97 earnings per share for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.06). The company had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Prologis had a net margin of 42.95% and a return on equity of 5.42%. The business’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period last year, the company posted $0.90 EPS.

The company also recently announced a quarterly dividend, which was paid on Friday, December 31st. Shareholders of record on Tuesday, December 14th were given a $0.63 dividend. The ex-dividend date was Monday, December 13th. This represents a $2.52 annualized dividend and a yield of 1.64%. Prologis’s payout ratio is 95.09%.

In related news, CEO Hamid R. Moghadam sold 14,355 shares of the business’s stock in a transaction that occurred on Monday, October 25th. The stock was sold at an average price of $144.64, for a total value of $2,076,307.20. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Hamid R. Moghadam sold 305,645 shares of the business’s stock in a transaction that occurred on Friday, October 22nd. The stock was sold at an average price of $144.24, for a total value of $44,086,234.80. The disclosure for this sale can be found here. Insiders sold 323,335 shares of company stock worth $46,681,516 over the last three months. Insiders own 0.87% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of PLD. Wellington Management Group LLP increased its position in shares of Prologis by 69.0% during the 3rd quarter. Wellington Management Group LLP now owns 9,222,551 shares of the real estate investment trust’s stock valued at $1,156,785,000 after purchasing an additional 3,766,367 shares during the last quarter. Amundi purchased a new stake in shares of Prologis during the 2nd quarter worth $398,345,000. Prospera Financial Services Inc lifted its stake in shares of Prologis by 7,381.1% during the 2nd quarter. Prospera Financial Services Inc now owns 2,186,739 shares of the real estate investment trust’s stock worth $1,368,000 after purchasing an additional 2,157,509 shares during the last quarter. FMR LLC increased its position in Prologis by 7.9% during the 2nd quarter. FMR LLC now owns 22,666,349 shares of the real estate investment trust’s stock valued at $2,709,309,000 after buying an additional 1,655,815 shares in the last quarter. Finally, Morgan Stanley increased its position in Prologis by 30.6% during the 2nd quarter. Morgan Stanley now owns 6,634,236 shares of the real estate investment trust’s stock valued at $792,990,000 after buying an additional 1,552,532 shares in the last quarter. 92.23% of the stock is currently owned by institutional investors.

Prologis Company Profile

Prologis, Inc engages in the provision of real estate investment trust services. It operates through Real Estate Operations and Strategic Capital segments. The Real Estate Operations segment represents the ownership and development of logistics properties and also includes rental revenues, recoveries and expenses recognized from its consolidated properties.

Read More: Capital Gains Distribution

Earnings History and Estimates for Prologis (NYSE:PLD)

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