Zacks: Analysts Anticipate Prologis Inc (PLD) to Announce $0.71 Earnings Per Share
Analysts predict that Prologis Inc (NYSE:PLD) will report earnings of $0.71 per share for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Prologis’ earnings. The highest EPS estimate is $0.72 and the lowest is $0.70. Prologis reported earnings per share of $0.67 in the same quarter last year, which would suggest a positive year-over-year growth rate of 6%. The company is expected to issue its next earnings report before the market opens on Tuesday, October 16th.
On average, analysts expect that Prologis will report full-year earnings of $3.01 per share for the current financial year, with EPS estimates ranging from $3.00 to $3.04. For the next financial year, analysts anticipate that the firm will report earnings of $3.20 per share, with EPS estimates ranging from $3.14 to $3.32. Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that follow Prologis.
Prologis (NYSE:PLD) last posted its quarterly earnings results on Tuesday, July 17th. The real estate investment trust reported $0.71 earnings per share for the quarter, meeting the consensus estimate of $0.71. Prologis had a net margin of 74.17% and a return on equity of 10.11%. The business had revenue of $621.00 million during the quarter, compared to analysts’ expectations of $557.43 million. During the same quarter in the prior year, the company posted $0.84 EPS. The business’s revenue for the quarter was down 18.9% on a year-over-year basis.
In other Prologis news, Director Irving F. Lyons III sold 4,808 shares of the stock in a transaction that occurred on Friday, September 28th. The shares were sold at an average price of $67.45, for a total transaction of $324,299.60. Following the sale, the director now directly owns 9,863 shares in the company, valued at approximately $665,259.35. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Edward S. Nekritz sold 18,099 shares of the stock in a transaction that occurred on Friday, September 21st. The stock was sold at an average price of $67.66, for a total transaction of $1,224,578.34. Following the sale, the insider now owns 106,102 shares in the company, valued at $7,178,861.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,690 shares of company stock worth $3,501,582. 1.32% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Bank of Montreal Can raised its holdings in shares of Prologis by 197.9% in the 3rd quarter. Bank of Montreal Can now owns 1,115,584 shares of the real estate investment trust’s stock valued at $75,625,000 after purchasing an additional 741,039 shares in the last quarter. Spirit of America Management Corp NY raised its holdings in shares of Prologis by 15.2% in the 3rd quarter. Spirit of America Management Corp NY now owns 106,438 shares of the real estate investment trust’s stock valued at $7,215,000 after purchasing an additional 14,013 shares in the last quarter. KAMES CAPITAL plc acquired a new stake in shares of Prologis in the 3rd quarter valued at $201,000. World Asset Management Inc raised its holdings in shares of Prologis by 17.8% in the 3rd quarter. World Asset Management Inc now owns 45,959 shares of the real estate investment trust’s stock valued at $3,116,000 after purchasing an additional 6,938 shares in the last quarter. Finally, Swedbank raised its holdings in shares of Prologis by 2.0% in the 3rd quarter. Swedbank now owns 2,334,330 shares of the real estate investment trust’s stock valued at $158,244,000 after purchasing an additional 45,532 shares in the last quarter. Institutional investors and hedge funds own 80.59% of the company’s stock.
Shares of Prologis stock traded down $0.30 during mid-day trading on Friday, hitting $62.54. The stock had a trading volume of 3,529,253 shares, compared to its average volume of 2,999,074. Prologis has a 12-month low of $58.28 and a 12-month high of $68.20. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.73 and a quick ratio of 0.73. The stock has a market cap of $42.67 billion, a price-to-earnings ratio of 22.26, a price-to-earnings-growth ratio of 4.43 and a beta of 0.72.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 28th. Shareholders of record on Monday, September 17th were issued a dividend of $0.48 per share. The ex-dividend date was Friday, September 14th. This represents a $1.92 dividend on an annualized basis and a yield of 3.07%. Prologis’s dividend payout ratio (DPR) is presently 68.33%.
Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of June 30, 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 685 million square feet (64 million square meters) in 19 countries.
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