Prologis, Inc. (NYSE:PLD – Get Rating) – Equities research analysts at Jefferies Financial Group lifted their FY2022 EPS estimates for shares of Prologis in a research note issued on Tuesday, May 10th. Jefferies Financial Group analyst J. Petersen now anticipates that the real estate investment trust will earn $5.15 per share for the year, up from their previous forecast of $5.02. Jefferies Financial Group also issued estimates for Prologis’ Q4 2022 earnings at $1.19 EPS, Q2 2023 earnings at $1.47 EPS, Q3 2023 earnings at $1.29 EPS, FY2023 earnings at $5.45 EPS, Q1 2024 earnings at $1.34 EPS and FY2024 earnings at $5.71 EPS.
PLD has been the topic of several other research reports. Deutsche Bank Aktiengesellschaft increased their target price on Prologis from $179.00 to $184.00 and gave the stock a “buy” rating in a report on Friday, April 22nd. StockNews.com cut Prologis from a “buy” rating to a “hold” rating in a report on Wednesday, April 20th. The Goldman Sachs Group raised their price target on Prologis from $184.00 to $209.00 in a report on Friday, January 21st. Robert W. Baird raised their price target on Prologis from $152.00 to $175.00 in a report on Wednesday, April 20th. Finally, Barclays raised their price target on Prologis from $171.00 to $190.00 and gave the company an “overweight” rating in a report on Thursday, April 21st. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $175.75.
Prologis (NYSE:PLD – Get Rating) last announced its earnings results on Tuesday, April 19th. The real estate investment trust reported $1.54 EPS for the quarter, topping the consensus estimate of $0.55 by $0.99. The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.09 billion. Prologis had a return on equity of 9.98% and a net margin of 77.08%. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.97 earnings per share.
Large investors have recently bought and sold shares of the stock. Perpetual Investment Management Ltd grew its holdings in shares of Prologis by 6.4% during the third quarter. Perpetual Investment Management Ltd now owns 21,838 shares of the real estate investment trust’s stock worth $2,739,000 after buying an additional 1,307 shares in the last quarter. Clark Capital Management Group Inc. grew its holdings in shares of Prologis by 24.6% during the third quarter. Clark Capital Management Group Inc. now owns 308,031 shares of the real estate investment trust’s stock worth $38,636,000 after buying an additional 60,913 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Prologis by 7.6% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 120,618 shares of the real estate investment trust’s stock worth $20,307,000 after buying an additional 8,524 shares in the last quarter. Destination Wealth Management bought a new position in Prologis in the fourth quarter valued at approximately $536,000. Finally, Morgan Stanley grew its stake in Prologis by 6.3% in the third quarter. Morgan Stanley now owns 7,053,712 shares of the real estate investment trust’s stock valued at $884,750,000 after purchasing an additional 419,476 shares in the last quarter. Institutional investors and hedge funds own 93.53% of the company’s stock.
In other news, Director Irving F. Lyons III sold 44,385 shares of the firm’s stock in a transaction dated Monday, April 25th. The stock was sold at an average price of $164.60, for a total transaction of $7,305,771.00. Following the sale, the director now owns 22,431 shares of the company’s stock, valued at $3,692,142.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director William D. Zollars sold 1,350 shares of the firm’s stock in a transaction dated Friday, March 25th. The stock was sold at an average price of $155.68, for a total value of $210,168.00. The disclosure for this sale can be found here. Corporate insiders own 0.70% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Thursday, June 16th will be paid a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 2.55%. The ex-dividend date is Wednesday, June 15th. Prologis’s payout ratio is 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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