Prologis Inc (NYSE:PLD) – Stock analysts at Jefferies Financial Group lifted their Q3 2019 EPS estimates for shares of Prologis in a report issued on Monday, July 15th. Jefferies Financial Group analyst J. Petersen now expects that the real estate investment trust will post earnings of $0.90 per share for the quarter, up from their prior estimate of $0.89.
Other equities research analysts have also issued research reports about the company. Zacks Investment Research lowered G1 Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, May 16th. KeyCorp increased their price target on Terreno Realty from $49.00 to $52.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Morgan Stanley lowered Meili from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $14.00 to $4.20 in a research report on Monday, June 3rd. Goldman Sachs Group began coverage on Liberty Property Trust in a research report on Wednesday, May 15th. They issued a “neutral” rating and a $49.00 price target on the stock. Finally, Citigroup set a $86.00 price target on Prologis and gave the company a “buy” rating in a research report on Thursday, June 6th. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $76.04.
PLD stock opened at $81.61 on Tuesday. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.42. The firm has a market cap of $50.43 billion, a price-to-earnings ratio of 26.93, a P/E/G ratio of 4.53 and a beta of 1.03. The firm has a 50-day moving average of $79.51. Prologis has a 1 year low of $55.21 and a 1 year high of $83.99.
Prologis (NYSE:PLD) last posted its quarterly earnings results on Monday, July 15th. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.16). The company had revenue of $700.69 million during the quarter, compared to analyst estimates of $704.19 million. Prologis had a net margin of 56.56% and a return on equity of 6.83%. Prologis’s revenue for the quarter was up 28.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.71 EPS.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Thursday, June 13th were given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 2.60%. The ex-dividend date of this dividend was Wednesday, June 12th. Prologis’s dividend payout ratio (DPR) is presently 69.97%.
In other news, Director Philip L. Hawkins sold 9,000 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $78.72, for a total transaction of $708,480.00. Following the sale, the director now owns 35,511 shares of the company’s stock, valued at approximately $2,795,425.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Edward S. Nekritz sold 30,671 shares of the firm’s stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $75.01, for a total value of $2,300,631.71. Following the sale, the insider now directly owns 21,121 shares in the company, valued at approximately $1,584,286.21. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Berman Capital Advisors LLC raised its position in shares of Prologis by 105.3% during the 1st quarter. Berman Capital Advisors LLC now owns 388 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 199 shares in the last quarter. Thor Advisors LLC acquired a new stake in shares of Prologis during the 1st quarter worth about $37,000. Hexavest Inc. acquired a new stake in shares of Prologis during the 2nd quarter worth about $42,000. Rational Advisors LLC raised its position in shares of Prologis by 61.8% during the 1st quarter. Rational Advisors LLC now owns 618 shares of the real estate investment trust’s stock worth $44,000 after acquiring an additional 236 shares in the last quarter. Finally, Marshall Wace LLP acquired a new stake in shares of Prologis during the 1st quarter worth about $57,000. 95.42% of the stock is currently owned by institutional investors and hedge funds.
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, 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 768 million square feet (71 million square meters) in 19 countries.
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