Prologis, Inc. (NYSE:PLD) – Equities researchers at Jefferies Financial Group cut their FY2023 earnings per share (EPS) estimates for Prologis in a report released on Wednesday, January 13th. Jefferies Financial Group analyst J. Petersen now forecasts that the real estate investment trust will post earnings of $4.11 per share for the year, down from their prior forecast of $4.16.
Other equities research analysts have also recently issued research reports about the company. Zacks Investment Research cut Prologis from a “buy” rating to a “hold” rating and set a $111.00 target price for the company. in a research report on Thursday, October 8th. The Goldman Sachs Group started coverage on Prologis in a research report on Tuesday, September 29th. They set a “buy” rating for the company. UBS Group assumed coverage on Prologis in a research note on Friday, October 16th. They issued a “buy” rating and a $126.00 target price for the company. Finally, BTIG Research raised their price objective on shares of Prologis from $100.00 to $117.00 and gave the company a “buy” rating in a research note on Monday, November 30th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $107.80.
Prologis (NYSE:PLD) last issued its quarterly earnings results on Tuesday, October 20th. The real estate investment trust reported $0.40 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.48). Prologis had a return on equity of 5.55% and a net margin of 43.27%. The company had revenue of $984.00 million during the quarter, compared to analysts’ expectations of $955.32 million. During the same period in the previous year, the firm posted $0.97 EPS. Prologis’s revenue was up 38.2% compared to the same quarter last year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, December 31st. Investors of record on Friday, December 18th were paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date was Thursday, December 17th. Prologis’s payout ratio is 70.09%.
A number of hedge funds have recently added to or reduced their stakes in the business. Blair William & Co. IL increased its position in Prologis by 19.8% during the 3rd quarter. Blair William & Co. IL now owns 11,511 shares of the real estate investment trust’s stock valued at $1,158,000 after buying an additional 1,905 shares in the last quarter. Great West Life Assurance Co. Can lifted its position in shares of Prologis by 3.6% in the third quarter. Great West Life Assurance Co. Can now owns 1,154,745 shares of the real estate investment trust’s stock valued at $116,164,000 after acquiring an additional 40,345 shares in the last quarter. Sei Investments Co. increased its position in Prologis by 38.2% during the 3rd quarter. Sei Investments Co. now owns 1,928,194 shares of the real estate investment trust’s stock worth $194,247,000 after purchasing an additional 532,635 shares in the last quarter. Engineers Gate Manager LP acquired a new position in Prologis in the 2nd quarter valued at about $293,000. Finally, Cullinan Associates Inc. lifted its holdings in Prologis by 25.7% in the 3rd quarter. Cullinan Associates Inc. now owns 95,288 shares of the real estate investment trust’s stock valued at $9,588,000 after purchasing an additional 19,462 shares in the last quarter. Institutional investors and hedge funds own 94.75% of the company’s stock.
Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of September 30, 2020, 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 976 million square feet (91 million square meters) in 19 countries.
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