Analysts Set Expectations for Prologis Inc’s Q1 2017 Earnings (PLD)
Prologis Inc (NYSE:PLD) – Research analysts at Capital One Financial Corp. upped their Q1 2017 earnings per share (EPS) estimates for Prologis in a note issued to investors on Monday. Capital One Financial Corp. analyst T. Lesnick now expects that the real estate investment trust will earn $0.62 per share for the quarter, up from their prior estimate of $0.61. Capital One Financial Corp. also issued estimates for Prologis’ Q3 2017 earnings at $0.65 EPS and FY2018 earnings at $2.77 EPS.
PLD has been the topic of a number of other research reports. Barclays PLC reiterated an “overweight” rating and set a $54.00 price objective (down previously from $58.00) on shares of Prologis in a research note on Monday, January 23rd. Zacks Investment Research lowered shares of Prologis from a “buy” rating to a “hold” rating in a research note on Wednesday, January 11th. Jefferies Group LLC restated a “hold” rating and issued a $52.00 price target on shares of Prologis in a research note on Tuesday, February 14th. BTIG Research restated a “buy” rating and issued a $57.00 price target on shares of Prologis in a research note on Tuesday, April 11th. Finally, Evercore ISI lifted their price target on shares of Prologis from $58.00 to $59.00 and gave the stock an “outperform” rating in a research note on Wednesday. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Prologis has a consensus rating of “Buy” and a consensus price target of $53.94.
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Prologis (NYSE:PLD) opened at 54.53 on Thursday. Prologis has a one year low of $44.36 and a one year high of $55.93. The stock has a market cap of $28.87 billion, a PE ratio of 24.03 and a beta of 1.05. The company’s 50 day moving average is $51.77 and its 200 day moving average is $51.15.
Prologis (NYSE:PLD) last issued its earnings results on Tuesday, April 18th. The real estate investment trust reported $0.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.01. Prologis had a net margin of 47.76% and a return on equity of 6.62%. The firm earned $629.16 million during the quarter, compared to analysts’ expectations of $555.37 million. During the same quarter last year, the company posted $0.61 earnings per share. The firm’s revenue was up 3.8% compared to the same quarter last year.
A number of institutional investors have recently added to or reduced their stakes in PLD. State of Alaska Department of Revenue increased its position in Prologis by 32.7% in the first quarter. State of Alaska Department of Revenue now owns 254,316 shares of the real estate investment trust’s stock worth $13,193,000 after buying an additional 62,719 shares in the last quarter. Lederer & Associates Investment Counsel CA increased its position in Prologis by 30.1% in the first quarter. Lederer & Associates Investment Counsel CA now owns 6,050 shares of the real estate investment trust’s stock worth $314,000 after buying an additional 1,400 shares in the last quarter. Quantitative Systematic Strategies LLC acquired a new position in Prologis during the first quarter worth approximately $744,000. Capital Impact Advisors LLC acquired a new position in Prologis during the first quarter worth approximately $1,775,000. Finally, Duff & Phelps Investment Management Co. increased its position in Prologis by 17.2% in the first quarter. Duff & Phelps Investment Management Co. now owns 2,135,322 shares of the real estate investment trust’s stock worth $110,781,000 after buying an additional 313,782 shares in the last quarter.
In other Prologis news, CEO Eugene F. Reilly sold 70,000 shares of Prologis stock in a transaction on Thursday, March 16th. The shares were sold at an average price of $50.72, for a total value of $3,550,400.00. Following the completion of the transaction, the chief executive officer now owns 150,650 shares of the company’s stock, valued at $7,640,968. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Edward S. Nekritz sold 84,434 shares of Prologis stock in a transaction on Monday, March 20th. The stock was sold at an average price of $51.45, for a total transaction of $4,344,129.30. Following the completion of the transaction, the insider now directly owns 202,115 shares of the company’s stock, valued at approximately $10,398,816.75. The disclosure for this sale can be found here. Insiders own 1.29% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 31st. Shareholders of record on Wednesday, March 15th were issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date of this dividend was Monday, March 13th. This is an increase from Prologis’s previous quarterly dividend of $0.42. Prologis’s payout ratio is currently 74.67%.
Prologis Company Profile
Prologis, Inc is a real estate investment trust (REIT) company. The Company is engaged in logistics real estate business. The Company’s segments include Real Estate Operations and Strategic Capital. The Real estate operations segment consists of rental operations and development. The Company’s strategic capital segment includes asset management services, as well as services performed for unconsolidated co-investment ventures.
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