Zacks: Analysts Anticipate Prologis (PLD) to Announce $0.74 EPS

Brokerages expect Prologis (NYSE:PLD) to report $0.74 earnings per share for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Prologis’ earnings, with the highest EPS estimate coming in at $0.76 and the lowest estimate coming in at $0.72. Prologis posted earnings per share of $0.63 in the same quarter last year, which indicates a positive year-over-year growth rate of 17.5%. The company is expected to issue its next earnings report before the market opens on Tuesday, April 17th.

On average, analysts expect that Prologis will report full year earnings of $2.91 per share for the current fiscal year, with EPS estimates ranging from $2.86 to $2.95. For the next fiscal year, analysts forecast that the business will post earnings of $3.11 per share, with EPS estimates ranging from $3.00 to $3.20. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that cover Prologis.

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Prologis (NYSE:PLD) last posted its earnings results on Tuesday, January 23rd. The real estate investment trust reported $0.67 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.01. The company had revenue of $550.65 million during the quarter, compared to analyst estimates of $533.54 million. Prologis had a return on equity of 9.12% and a net margin of 63.11%. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.63 EPS.

Several equities research analysts have commented on PLD shares. Robert W. Baird boosted their price target on Prologis from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, January 24th. Cantor Fitzgerald set a $69.00 price target on Prologis and gave the stock a “buy” rating in a research report on Tuesday, January 23rd. BMO Capital Markets set a $68.00 target price on Prologis and gave the stock a “buy” rating in a report on Tuesday, January 23rd. Jefferies Group raised Prologis from a “hold” rating to a “buy” rating in a report on Thursday, April 12th. Finally, Citigroup raised Prologis from a “neutral” rating to a “buy” rating and set a $72.00 target price on the stock in a report on Friday, April 6th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. Prologis currently has a consensus rating of “Buy” and a consensus target price of $67.94.

NYSE:PLD opened at $62.60 on Tuesday. Prologis has a fifty-two week low of $53.15 and a fifty-two week 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. The stock has a market cap of $33,187.94, a PE ratio of 22.28, a price-to-earnings-growth ratio of 4.68 and a beta of 0.82.

The business also recently announced a quarterly dividend, which was paid on Thursday, March 29th. Stockholders of record on Thursday, March 15th were given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.07%. This is an increase from Prologis’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Wednesday, March 14th. Prologis’s dividend payout ratio is presently 68.33%.

In other Prologis news, Director William D. Zollars sold 4,020 shares of the stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $60.48, for a total value of $243,129.60. Following the completion of the transaction, the director now directly owns 20,225 shares in the company, valued at $1,223,208. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael S. Curless sold 14,465 shares of the stock in a transaction dated Wednesday, March 28th. The shares were sold at an average price of $62.49, for a total value of $903,917.85. Following the completion of the transaction, the insider now owns 102 shares of the company’s stock, valued at $6,373.98. The disclosure for this sale can be found here. Corporate insiders own 1.32% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. Virtue Capital Management LLC acquired a new stake in shares of Prologis in the fourth quarter valued at about $143,000. Parallel Advisors LLC increased its stake in shares of Prologis by 66.3% in the fourth quarter. Parallel Advisors LLC now owns 2,509 shares of the real estate investment trust’s stock valued at $162,000 after buying an additional 1,000 shares during the period. Bronfman E.L. Rothschild L.P. increased its stake in shares of Prologis by 75.5% in the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 2,678 shares of the real estate investment trust’s stock valued at $173,000 after buying an additional 1,152 shares during the period. Premia Global Advisors LLC acquired a new stake in shares of Prologis in the fourth quarter valued at about $192,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in shares of Prologis in the fourth quarter valued at about $200,000. Hedge funds and other institutional investors own 95.39% of the company’s stock.

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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.

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Earnings History and Estimates for Prologis (NYSE:PLD)

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