$1.10 Billion in Sales Expected for Prologis, Inc. (NYSE:PLD) This Quarter

Analysts expect Prologis, Inc. (NYSE:PLDGet Rating) to report sales of $1.10 billion for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Prologis’ earnings. The highest sales estimate is $1.11 billion and the lowest is $1.09 billion. Prologis posted sales of $1.01 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 8.9%. The business is scheduled to report its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Prologis will report full year sales of $4.51 billion for the current year, with estimates ranging from $4.40 billion to $4.62 billion. For the next fiscal year, analysts anticipate that the business will report sales of $5.06 billion, with estimates ranging from $4.72 billion to $5.44 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Prologis.

Prologis (NYSE:PLDGet Rating) last announced its earnings results on Tuesday, April 19th. The real estate investment trust reported $1.54 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.99. Prologis had a return on equity of 9.98% and a net margin of 77.08%. The business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter last year, the business posted $0.97 earnings per share. The company’s quarterly revenue was up 5.4% on a year-over-year basis.

PLD has been the subject of several analyst reports. Raymond James upped their target price on Prologis from $180.00 to $190.00 and gave the company a “strong-buy” rating in a report on Monday, April 25th. Royal Bank of Canada upped their target price on Prologis from $164.00 to $170.00 in a report on Monday, January 24th. Truist Financial upped their target price on Prologis from $158.00 to $166.00 in a report on Tuesday, January 18th. BTIG Research raised their price objective on Prologis from $161.00 to $193.00 and gave the stock a “buy” rating in a research report on Tuesday, April 12th. Finally, Robert W. Baird raised their price target on shares of Prologis from $152.00 to $175.00 in a report on Wednesday, April 20th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $175.75.

In related news, Director William D. Zollars sold 1,350 shares of the firm’s stock in a transaction on Friday, March 25th. The stock was sold at an average price of $155.68, for a total value of $210,168.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Irving F. Lyons III sold 44,385 shares of the firm’s stock in a transaction on Monday, April 25th. The stock was sold at an average price of $164.60, for a total value of $7,305,771.00. Following the completion of the transaction, the director now owns 22,431 shares in the company, valued at approximately $3,692,142.60. The disclosure for this sale can be found here. Company insiders own 0.70% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Gitterman Wealth Management LLC bought a new stake in Prologis in the first quarter worth approximately $337,000. Private Portfolio Partners LLC raised its position in Prologis by 22.4% in the 1st quarter. Private Portfolio Partners LLC now owns 3,120 shares of the real estate investment trust’s stock valued at $504,000 after buying an additional 572 shares during the last quarter. Gyon Technologies Capital Management LP raised its position in Prologis by 37.0% in the 1st quarter. Gyon Technologies Capital Management LP now owns 1,661 shares of the real estate investment trust’s stock valued at $268,000 after buying an additional 449 shares during the last quarter. Verity Asset Management Inc. bought a new position in Prologis in the 1st quarter valued at $72,000. Finally, Renasant Bank grew its stake in shares of Prologis by 32.5% during the 1st quarter. Renasant Bank now owns 2,213 shares of the real estate investment trust’s stock worth $357,000 after acquiring an additional 543 shares during the period. 93.53% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE PLD opened at $123.93 on Friday. Prologis has a 12 month low of $112.04 and a 12 month high of $174.54. The company has a market cap of $91.74 billion, a price-to-earnings ratio of 24.84, a P/E/G ratio of 2.95 and a beta of 0.82. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.48. The business has a fifty day simple moving average of $157.39 and a 200-day simple moving average of $154.51.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 30th. Stockholders of record on Thursday, June 16th will be issued a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 2.55%. The ex-dividend date is Wednesday, June 15th. Prologis’s payout ratio is presently 63.33%.

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.

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