Prologis, Inc. (NYSE:PLD) Forecasted to Post Q1 2023 Earnings of $1.15 Per Share

Prologis, Inc. (NYSE:PLD) – Equities researchers at Jefferies Financial Group dropped their Q1 2023 earnings per share (EPS) estimates for Prologis in a research report issued to clients and investors on Monday, January 10th. Jefferies Financial Group analyst J. Petersen now forecasts that the real estate investment trust will post earnings per share of $1.15 for the quarter, down from their previous forecast of $1.16. Jefferies Financial Group also issued estimates for Prologis’ Q4 2023 earnings at $1.22 EPS, FY2023 earnings at $4.85 EPS and FY2024 earnings at $5.14 EPS.

A number of other analysts also recently commented on PLD. Wells Fargo & Company boosted their target price on Prologis from $160.00 to $175.00 and gave the stock an “overweight” rating in a research report on Friday, November 19th. Royal Bank of Canada boosted their target price on Prologis from $144.00 to $164.00 and gave the stock an “outperform” rating in a research report on Monday, November 8th. Truist boosted their target price on Prologis from $137.00 to $158.00 and gave the stock a “buy” rating in a research report on Monday, October 25th. They noted that the move was a valuation call. Morgan Stanley boosted their target price on Prologis from $165.00 to $175.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 15th. Finally, BTIG Research boosted their target price on Prologis from $146.00 to $161.00 and gave the stock a “buy” rating in a research report on Wednesday, October 20th. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $152.07.

PLD opened at $153.15 on Wednesday. The business’s fifty day moving average is $156.33 and its two-hundred day moving average is $140.30. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.41 and a current ratio of 0.41. The company has a market cap of $113.23 billion, a price-to-earnings ratio of 57.79, a PEG ratio of 4.10 and a beta of 0.81. Prologis has a one year low of $94.14 and a one year high of $169.93.

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

The firm also recently announced a quarterly dividend, which was paid on Friday, December 31st. Investors of record on Tuesday, December 14th were paid a $0.63 dividend. The ex-dividend date of this dividend was Monday, December 13th. This represents a $2.52 annualized dividend and a yield of 1.65%. Prologis’s payout ratio is currently 95.09%.

In other Prologis news, CEO Hamid R. Moghadam sold 305,645 shares of the company’s stock in a transaction dated Friday, October 22nd. The stock was sold at an average price of $144.24, for a total transaction of $44,086,234.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director William D. Zollars sold 1,955 shares of the company’s stock in a transaction dated Wednesday, December 22nd. The stock was sold at an average price of $162.26, for a total value of $317,218.30. The disclosure for this sale can be found here. Insiders sold 323,335 shares of company stock valued at $46,681,516 over the last quarter. Insiders own 0.87% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of PLD. Marshall Wace LLP purchased a new position in Prologis in the first quarter valued at about $57,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in Prologis by 12.8% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 136,767 shares of the real estate investment trust’s stock valued at $16,348,000 after purchasing an additional 15,566 shares during the last quarter. Resources Investment Advisors LLC. purchased a new position in Prologis in the second quarter valued at about $207,000. Centaurus Financial Inc. boosted its holdings in Prologis by 11.4% in the second quarter. Centaurus Financial Inc. now owns 1,590 shares of the real estate investment trust’s stock valued at $190,000 after purchasing an additional 163 shares during the last quarter. Finally, Atria Investments LLC boosted its holdings in Prologis by 4.3% in the second quarter. Atria Investments LLC now owns 49,799 shares of the real estate investment trust’s stock valued at $5,952,000 after purchasing an additional 2,051 shares during the last quarter. 92.39% of the stock is owned by institutional investors.

About Prologis

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.

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Earnings History and Estimates for Prologis (NYSE:PLD)

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