Prologis (PLD) Issues FY18 Earnings Guidance

Prologis (NYSE:PLD) updated its FY18 earnings guidance on Tuesday. The company provided EPS guidance of $2.95-3.01 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.91.

NYSE:PLD opened at $63.50 on Tuesday. The stock has a market capitalization of $33,187.94, a price-to-earnings ratio of 22.28, a PEG ratio of 4.68 and a beta of 0.82. Prologis has a 12 month low of $53.15 and a 12 month high of $67.53. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.51.

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Prologis (NYSE:PLD) last released its quarterly earnings results on Monday, April 16th. The real estate investment trust reported $0.80 EPS for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.06. The firm had revenue of $555.90 million for the quarter, compared to analyst estimates of $552.42 million. Prologis had a net margin of 63.11% and a return on equity of 9.12%. The company’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.63 earnings per share. research analysts predict that Prologis will post 2.91 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, March 29th. Shareholders of record on Thursday, March 15th were given a $0.48 dividend. The ex-dividend date was Wednesday, March 14th. This is a positive change from Prologis’s previous quarterly dividend of $0.44. This represents a $1.92 dividend on an annualized basis and a yield of 3.02%. Prologis’s payout ratio is 68.33%.

PLD has been the topic of a number of recent analyst reports. Robert W. Baird boosted their price target on shares of Prologis from $68.00 to $70.00 and gave the company a buy rating in a research report on Wednesday, January 24th. Cantor Fitzgerald set a $69.00 price target on shares of Prologis and gave the company a buy rating in a research report on Tuesday, January 23rd. BMO Capital Markets set a $68.00 price target on shares of Prologis and gave the company a buy rating in a research report on Tuesday, January 23rd. Jefferies Group upgraded shares of Prologis from a hold rating to a buy rating in a research report on Thursday, April 12th. Finally, Citigroup upgraded shares of Prologis from a neutral rating to a buy rating and set a $72.00 target price on the stock in a research report on Friday, April 6th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of $67.94.

In related news, insider Michael S. Curless sold 14,465 shares of the stock in a transaction that occurred on Wednesday, March 28th. The shares were sold at an average price of $62.49, for a total value of $903,917.85. Following the transaction, the insider now directly owns 102 shares in the company, valued at $6,373.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director William D. Zollars sold 4,020 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $60.48, for a total transaction of $243,129.60. Following the completion of the transaction, the director now owns 20,225 shares in the company, valued at $1,223,208. The disclosure for this sale can be found here. 1.32% of the stock is currently owned by corporate insiders.

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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, 2017, 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 684 million square feet (64 million square meters) in 19 countries.

Earnings History and Estimates for Prologis (NYSE:PLD)

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