Prologis (NYSE:PLD) updated its FY 2018 earnings guidance on Tuesday. The company provided earnings per share guidance of $3.00-3.04 for the period. Prologis also updated its FY18 guidance to $3.01-3.03 EPS.
Several equities analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Prologis from a hold rating to a buy rating and set a $72.00 price objective on the stock in a report on Wednesday, June 20th. BMO Capital Markets set a $70.00 price objective on shares of Prologis and gave the company a buy rating in a report on Tuesday. Barclays upped their price objective on shares of Prologis from $71.00 to $73.00 and gave the company an overweight rating in a report on Thursday, August 2nd. BTIG Research set a $73.00 price objective on shares of Prologis and gave the company a buy rating in a report on Thursday, August 23rd. Finally, ValuEngine lowered shares of Prologis from a buy rating to a hold rating in a report on Thursday, July 19th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $71.47.
PLD opened at $63.86 on Wednesday. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.51. Prologis has a fifty-two week low of $58.28 and a fifty-two week high of $68.20. The stock has a market capitalization of $42.67 billion, a P/E ratio of 22.73, a price-to-earnings-growth ratio of 4.43 and a beta of 0.72.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 28th. Investors of record on Monday, September 17th were issued a $0.48 dividend. The ex-dividend date was Friday, September 14th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.01%. Prologis’s dividend payout ratio is presently 68.33%.
In related news, Director Irving F. Lyons III sold 4,808 shares of the company’s stock in a transaction dated Friday, September 28th. The shares were sold at an average price of $67.45, for a total value of $324,299.60. Following the sale, the director now owns 9,863 shares in the company, valued at approximately $665,259.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Edward S. Nekritz sold 18,099 shares of the company’s stock in a transaction dated Friday, September 21st. The stock was sold at an average price of $67.66, for a total transaction of $1,224,578.34. Following the completion of the sale, the insider now owns 106,102 shares in the company, valued at approximately $7,178,861.32. The disclosure for this sale can be found here. Insiders sold a total of 52,690 shares of company stock worth $3,501,582 in the last 90 days. 1.32% of the stock is currently owned by company insiders.
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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