Prologis (PLD) Scheduled to Post Earnings on Wednesday

Prologis (NYSE:PLD) is scheduled to be posting its quarterly earnings results before the market opens on Wednesday, October 16th. Analysts expect Prologis to post earnings of $1.38 per share for the quarter. Prologis has set its FY24 guidance at $5.39-5.47 EPS and its FY 2024 guidance at 5.390-5.470 EPS.Investors interested in participating in the company’s conference call can do so using this link.

Prologis (NYSE:PLD) last announced its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share for the quarter, missing the consensus estimate of $1.33 by ($0.41). Prologis had a return on equity of 4.88% and a net margin of 36.37%. The business had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the prior year, the company earned $1.83 earnings per share. Prologis’s quarterly revenue was down 18.1% compared to the same quarter last year. On average, analysts expect Prologis to post $5 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Prologis Stock Performance

Shares of PLD stock opened at $120.24 on Monday. The business’s 50-day moving average price is $125.23 and its 200-day moving average price is $117.79. Prologis has a 12 month low of $96.64 and a 12 month high of $137.52. The firm has a market capitalization of $111.32 billion, a price-to-earnings ratio of 35.16, a PEG ratio of 3.05 and a beta of 1.07. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.52.

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a dividend of $0.96 per share. The ex-dividend date was Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.19%. Prologis’s dividend payout ratio (DPR) is 112.28%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Truist Financial lifted their target price on Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Bank of America reiterated a “neutral” rating and issued a $128.00 target price on shares of Prologis in a report on Monday, August 12th. The Goldman Sachs Group lifted their target price on Prologis from $140.00 to $156.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Wells Fargo & Company raised their price objective on Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a research note on Wednesday, August 28th. Finally, Argus raised their price objective on Prologis from $120.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Seven equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $132.71.

Insiders Place Their Bets

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.50% of the company’s stock.

Prologis Company Profile

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.