$616.76 Million in Sales Expected for Prologis, Inc. (PLD) This Quarter
Equities analysts expect that Prologis, Inc. (NYSE:PLD) will report $616.76 million in sales for the current quarter, according to Zacks. Six analysts have issued estimates for Prologis’ earnings, with estimates ranging from $579.86 million to $647.40 million. Prologis reported sales of $704.57 million in the same quarter last year, which would suggest a negative year over year growth rate of 12.5%. The business is scheduled to announce its next quarterly earnings results on Thursday, October 19th.
According to Zacks, analysts expect that Prologis will report full-year sales of $616.76 million for the current fiscal year, with estimates ranging from $2.31 billion to $2.81 billion. For the next financial year, analysts anticipate that the firm will report sales of $2.54 billion per share, with estimates ranging from $2.37 billion to $2.73 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Prologis.
Prologis (NYSE:PLD) last posted its quarterly earnings results on Tuesday, July 18th. The real estate investment trust reported $0.84 EPS for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.06. Prologis had a net margin of 43.99% and a return on equity of 6.65%. The company had revenue of $766.18 million during the quarter, compared to analyst estimates of $576.00 million. During the same period in the prior year, the business posted $0.60 EPS. The firm’s revenue was up 27.2% compared to the same quarter last year.
PLD has been the subject of several recent analyst reports. Stifel Nicolaus lifted their price objective on shares of Prologis from $57.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, May 30th. Zacks Investment Research lowered shares of Prologis from a “buy” rating to a “hold” rating in a research note on Tuesday, June 6th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $59.00 price objective on shares of Prologis in a research note on Thursday, June 8th. BidaskClub lowered shares of Prologis from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 21st. Finally, Bank of America Corporation raised shares of Prologis from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $58.00 to $65.00 in a research note on Friday, June 23rd. Four investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $60.88.
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In related news, Director Carl B. Webb sold 20,000 shares of Prologis stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $61.38, for a total value of $1,227,600.00. Following the completion of the sale, the director now directly owns 66,078 shares in the company, valued at $4,055,867.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.31% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. Achmea Investment Management B.V. raised its holdings in shares of Prologis by 42.6% in the second quarter. Achmea Investment Management B.V. now owns 53,197 shares of the real estate investment trust’s stock valued at $3,118,000 after acquiring an additional 15,891 shares in the last quarter. Sentry Investment Management LLC raised its holdings in Prologis by 32.0% in the second quarter. Sentry Investment Management LLC now owns 41,617 shares of the real estate investment trust’s stock worth $2,440,000 after purchasing an additional 10,081 shares in the last quarter. Toronto Dominion Bank raised its holdings in Prologis by 25.8% in the second quarter. Toronto Dominion Bank now owns 179,639 shares of the real estate investment trust’s stock worth $10,532,000 after purchasing an additional 36,802 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Prologis in the second quarter worth about $263,000. Finally, WINTON GROUP Ltd raised its holdings in Prologis by 293.7% in the second quarter. WINTON GROUP Ltd now owns 28,538 shares of the real estate investment trust’s stock worth $1,673,000 after purchasing an additional 21,289 shares in the last quarter. Hedge funds and other institutional investors own 95.91% of the company’s stock.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Monday, September 18th will be issued a $0.44 dividend. The ex-dividend date is Friday, September 15th. This represents a $1.76 annualized dividend and a dividend yield of 2.72%. Prologis’s payout ratio is currently 79.28%.
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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