Prologis (NYSE:PLD) issued an update on its FY 2019 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $3.26-3.30 for the period. Prologis also updated its FY19 guidance to $3.26-3.30 EPS.
Shares of NYSE PLD opened at $81.61 on Thursday. The company has a quick ratio of 0.36, a current ratio of 0.20 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $51.38 billion, a price-to-earnings ratio of 26.93, a price-to-earnings-growth ratio of 4.54 and a beta of 1.03. The company has a 50 day moving average price of $79.51. Prologis has a 52-week low of $55.21 and a 52-week high of $83.99.
Prologis (NYSE:PLD) last announced 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 firm had revenue of $700.69 million during the quarter, compared to analysts’ expectations of $704.19 million. Prologis had a net margin of 55.04% and a return on equity of 6.55%. The firm’s revenue for the quarter was up 28.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.71 EPS. Equities research analysts anticipate that Prologis will post 3.28 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Thursday, June 13th were issued a $0.53 dividend. The ex-dividend date was Wednesday, June 12th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.60%. Prologis’s payout ratio is 69.97%.
PLD has been the subject of a number of research reports. Morgan Stanley lowered Meili from an equal weight rating to an underweight rating and lowered their price target for the company from $14.00 to $4.20 in a report on Monday, June 3rd. KeyCorp boosted their price target on Terreno Realty from $49.00 to $52.00 and gave the company an overweight rating in a report on Wednesday, July 10th. Deutsche Bank lowered Swedish Orphan Biovitrum AB (publ) from a buy rating to a hold rating in a report on Thursday. Goldman Sachs Group initiated coverage on Liberty Property Trust in a report on Wednesday, May 15th. They issued a neutral rating and a $49.00 price target for the company. Finally, Citigroup set a $86.00 price target on Prologis and gave the company a buy rating in a report on Thursday, June 6th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Prologis currently has a consensus rating of Buy and a consensus price target of $76.75.
In other news, insider Edward S. Nekritz sold 30,671 shares of the stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $75.01, for a total transaction of $2,300,631.71. Following the completion of the sale, the insider now owns 21,121 shares in the company, valued at approximately $1,584,286.21. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Philip L. Hawkins sold 9,000 shares of the stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $78.72, for a total value 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 disclosure for this sale can be found here. 1.10% of the stock is owned by corporate insiders.
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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