Prologis, Inc. (NYSE:PLD) Forecasted to Post Q3 2022 Earnings of $1.76 Per Share

Prologis, Inc. (NYSE:PLD – Get Rating) – KeyCorp lifted their Q3 2022 earnings per share estimates for shares of Prologis in a report released on Wednesday, April 20th. KeyCorp analyst C. Mailman now forecasts that the real estate investment trust will earn $1.76 per share for the quarter, up from their previous estimate of $1.70. KeyCorp also issued estimates for Prologis’ Q4 2022 earnings at $1.20 EPS, FY2022 earnings at $5.18 EPS, Q1 2023 earnings at $1.18 EPS, Q2 2023 earnings at $2.10 EPS, Q3 2023 earnings at $1.30 EPS, Q4 2023 earnings at $1.32 EPS and FY2023 earnings at $5.90 EPS.

Prologis (NYSE:PLD – Get Rating) last released its earnings results on Tuesday, April 19th. The real estate investment trust reported $1.54 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.99. Prologis had a return on equity of 7.99% and a net margin of 61.77%. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the previous year, the company posted $0.97 EPS. Prologis’s quarterly revenue was up 5.4% compared to the same quarter last year.

PLD has been the subject of a number of other research reports. Raymond James upped their price target on Prologis from $155.00 to $180.00 and gave the stock a “strong-buy” rating in a research report on Monday, January 10th. Barclays raised their price objective on Prologis from $171.00 to $190.00 and gave the company an “overweight” rating in a research note on Thursday. Wells Fargo & Company reduced their price objective on Prologis from $175.00 to $172.00 and set an “overweight” rating on the stock in a report on Tuesday, March 15th. Truist Financial lifted their price target on Prologis from $158.00 to $166.00 in a report on Tuesday, January 18th. Finally, The Goldman Sachs Group lifted their price target on Prologis from $184.00 to $209.00 in a research report on Friday, January 21st. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Prologis currently has a consensus rating of “Buy” and an average price target of $173.92.

Prologis stock opened at $170.78 on Friday. The company has a market capitalization of $126.41 billion, a price-to-earnings ratio of 43.35, a price-to-earnings-growth ratio of 3.72 and a beta of 0.87. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.47. Prologis has a 12 month low of $112.00 and a 12 month high of $174.54. The business’s fifty day simple moving average is $155.92 and its two-hundred day simple moving average is $153.01.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 31st. Investors of record on Friday, March 18th were paid a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date of this dividend was Thursday, March 17th. This is a positive change from Prologis’s previous quarterly dividend of $0.63. Prologis’s dividend payout ratio (DPR) is currently 80.20%.

In related news, Director William D. Zollars sold 1,350 shares of the firm’s stock in a transaction that occurred on Friday, March 25th. The shares were sold at an average price of $155.68, for a total value of $210,168.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.70% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. raised its stake in shares of Prologis by 5.7% in the fourth quarter. BlackRock Inc. now owns 77,044,162 shares of the real estate investment trust’s stock worth $12,971,155,000 after acquiring an additional 4,127,777 shares during the last quarter. State Street Corp raised its stake in shares of Prologis by 7.7% in the fourth quarter. State Street Corp now owns 46,855,443 shares of the real estate investment trust’s stock worth $7,888,582,000 after acquiring an additional 3,343,792 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Prologis by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 13,702,145 shares of the real estate investment trust’s stock worth $2,300,903,000 after acquiring an additional 320,029 shares during the last quarter. Nuveen Asset Management LLC raised its stake in shares of Prologis by 3.8% in the fourth quarter. Nuveen Asset Management LLC now owns 9,603,186 shares of the real estate investment trust’s stock worth $1,616,792,000 after acquiring an additional 350,585 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of Prologis by 69.0% in the third quarter. Wellington Management Group LLP now owns 9,222,551 shares of the real estate investment trust’s stock worth $1,156,785,000 after acquiring an additional 3,766,367 shares during the last quarter. Institutional investors own 92.93% of the company’s stock.

About Prologis (Get Rating)

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of December 31, 2020, 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 984 million square feet (91 million square meters) in 19 countries.

See Also