FY2024 EPS Estimates for Prologis Lifted by Zacks Research

Prologis, Inc. (NYSE:PLD - Free Report) - Equities research analysts at Zacks Research increased their FY2024 EPS estimates for Prologis in a research note issued to investors on Wednesday, November 6th. Zacks Research analyst R. Department now anticipates that the real estate investment trust will post earnings per share of $5.43 for the year, up from their previous estimate of $5.39. The consensus estimate for Prologis' current full-year earnings is $5.45 per share. Zacks Research also issued estimates for Prologis' Q4 2024 earnings at $1.38 EPS, Q1 2025 earnings at $1.39 EPS, Q2 2025 earnings at $1.44 EPS, Q3 2025 earnings at $1.52 EPS, Q4 2025 earnings at $1.51 EPS, FY2025 earnings at $5.86 EPS, Q1 2026 earnings at $1.55 EPS, Q2 2026 earnings at $1.58 EPS, Q3 2026 earnings at $1.64 EPS and FY2026 earnings at $6.43 EPS.

Several other research analysts also recently weighed in on PLD. Morgan Stanley increased their price target on shares of Prologis from $132.00 to $133.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 14th. Truist Financial increased their price target on shares of Prologis from $125.00 to $137.00 and gave the stock a "buy" rating in a research report on Monday, August 5th. Barclays decreased their price target on shares of Prologis from $142.00 to $131.00 and set an "overweight" rating on the stock in a research report on Thursday, October 10th. The Goldman Sachs Group reiterated a "neutral" rating and issued a $132.00 price target (down from $142.00) on shares of Prologis in a research report on Monday, October 21st. Finally, Scotiabank decreased their price target on shares of Prologis from $142.00 to $136.00 and set a "sector outperform" rating on the stock in a research report on Friday, October 25th. Eight investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $131.12.

Prologis Stock Performance

PLD stock traded down $1.73 on Monday, hitting $114.10. The company had a trading volume of 3,547,004 shares, compared to its average volume of 3,647,832. Prologis has a 12-month low of $101.11 and a 12-month high of $137.52. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56. The stock's 50-day simple moving average is $122.69 and its 200 day simple moving average is $117.77. The stock has a market cap of $105.68 billion, a price-to-earnings ratio of 34.99, a P/E/G ratio of 2.98 and a beta of 1.08.

Prologis (NYSE:PLD - Get Free Report) last issued its earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.29). Prologis had a return on equity of 5.34% and a net margin of 39.08%. The company had revenue of $1.90 billion during the quarter, compared to analysts' expectations of $1.91 billion. During the same quarter in the prior year, the business posted $1.30 EPS. The company's revenue for the quarter was up 6.9% compared to the same quarter last year.

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a $0.96 dividend. The ex-dividend date was Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.37%. Prologis's dividend payout ratio (DPR) is presently 116.01%.

Insider Transactions at Prologis

In other news, CIO Joseph Ghazal sold 5,200 shares of the business's stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $129.07, for a total value of $671,164.00. Following the sale, the executive now directly owns 13,187 shares in the company, valued at $1,702,046.09. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.50% of the company's stock.

Hedge Funds Weigh In On Prologis

Several hedge funds have recently added to or reduced their stakes in PLD. American Capital Advisory LLC bought a new position in Prologis during the 2nd quarter valued at about $26,000. Semmax Financial Advisors Inc. bought a new position in Prologis in the 2nd quarter worth about $27,000. Central Valley Advisors LLC bought a new position in Prologis in the 2nd quarter worth about $29,000. Sunbelt Securities Inc. grew its stake in Prologis by 640.0% in the 2nd quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust's stock worth $29,000 after acquiring an additional 224 shares in the last quarter. Finally, Wetzel Investment Advisors Inc. bought a new position in Prologis in the 2nd quarter worth about $31,000. 93.50% of the stock is currently owned by institutional investors.

About Prologis

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At March 31, 2024, 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 1.2 billion square feet (115 million square meters) in 19 countries.