Wall Street analysts forecast that Prologis Inc (NYSE:PLD) will post $587.24 million in sales for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Prologis’ earnings. The lowest sales estimate is $543.30 million and the highest is $629.70 million. Prologis reported sales of $602.87 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 2.6%. The company is expected to report its next quarterly earnings report before the market opens on Tuesday, October 16th.
According to Zacks, analysts expect that Prologis will report full year sales of $2.37 billion for the current year, with estimates ranging from $2.31 billion to $2.42 billion. For the next fiscal year, analysts forecast that the business will post sales of $2.82 billion, with estimates ranging from $2.76 billion to $2.87 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that cover Prologis.
Prologis (NYSE:PLD) last posted its earnings results on Tuesday, July 17th. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.71. The company had revenue of $621.00 million for the quarter, compared to analysts’ expectations of $557.43 million. Prologis had a return on equity of 10.11% and a net margin of 74.17%. The firm’s quarterly revenue was down 18.9% compared to the same quarter last year. During the same period last year, the business posted $0.84 earnings per share.
PLD stock traded down $0.39 during mid-day trading on Friday, reaching $65.99. The company had a trading volume of 2,310,335 shares, compared to its average volume of 3,005,358. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.73 and a current ratio of 0.73. The stock has a market capitalization of $41.75 billion, a price-to-earnings ratio of 23.59, a PEG ratio of 4.34 and a beta of 0.74. Prologis has a one year low of $58.28 and a one year high of $68.20.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Monday, September 17th will be paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date is Friday, September 14th. Prologis’s dividend payout ratio is currently 68.33%.
In related news, Director J Michael Losh sold 6,762 shares of Prologis stock in a transaction dated Thursday, August 9th. The stock was sold at an average price of $65.63, for a total transaction of $443,790.06. Following the transaction, the director now directly owns 28,101 shares of the company’s stock, valued at $1,844,268.63. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Edward S. Nekritz sold 22,213 shares of Prologis stock in a transaction dated Thursday, June 28th. The stock was sold at an average price of $64.87, for a total value of $1,440,957.31. Following the transaction, the insider now directly owns 124,201 shares in the company, valued at $8,056,918.87. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 70,095 shares of company stock worth $4,618,240. Company insiders own 1.32% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Covington Investment Advisors Inc. acquired a new position in Prologis during the first quarter worth about $24,275,000. McKinley Carter Wealth Services Inc. acquired a new position in Prologis during the first quarter worth about $106,000. Advisors Preferred LLC grew its holdings in Prologis by 141.1% during the second quarter. Advisors Preferred LLC now owns 1,685 shares of the real estate investment trust’s stock worth $111,000 after acquiring an additional 986 shares during the period. Smithfield Trust Co. grew its holdings in Prologis by 85.5% during the second quarter. Smithfield Trust Co. now owns 2,319 shares of the real estate investment trust’s stock worth $152,000 after acquiring an additional 1,069 shares during the period. Finally, IFP Advisors Inc grew its holdings in Prologis by 50.7% during the first quarter. IFP Advisors Inc now owns 2,809 shares of the real estate investment trust’s stock worth $177,000 after acquiring an additional 945 shares during the period. 80.56% of the stock is currently owned by hedge funds and other institutional investors.
Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of June 30, 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 685 million square feet (64 million square meters) in 19 countries.
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