Research Analysts Issue Forecasts for Prologis, Inc.’s Q2 2024 Earnings (NYSE:PLD)

Posted by Defense World Staff on Sep 25th, 2023

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Prologis, Inc. (NYSE:PLD – Free Report) – Research analysts at Zacks Research decreased their Q2 2024 earnings per share (EPS) estimates for Prologis in a note issued to investors on Thursday, September 21st. Zacks Research analyst N. Dass now expects that the real estate investment trust will earn $1.35 per share for the quarter, down from their prior estimate of $1.38. The consensus estimate for Prologis’ current full-year earnings is $5.59 per share. Zacks Research also issued estimates for Prologis’ Q3 2024 earnings at $1.40 EPS, Q4 2024 earnings at $1.46 EPS, FY2024 earnings at $5.51 EPS, Q1 2025 earnings at $1.45 EPS, Q2 2025 earnings at $1.65 EPS and FY2025 earnings at $6.16 EPS.

Several other equities research analysts have also weighed in on the company. 888 reiterated a “maintains” rating on shares of Prologis in a research note on Wednesday, June 28th. Morgan Stanley reiterated an “overweight” rating and issued a $128.00 price target on shares of Prologis in a research report on Thursday, July 20th. BTIG Research lifted their price objective on Prologis from $152.00 to $154.00 in a report on Wednesday, July 19th. Mizuho restated a “buy” rating and issued a $140.00 target price on shares of Prologis in a research note on Wednesday, September 13th. Finally, StockNews.com cut shares of Prologis from a “hold” rating to a “sell” rating in a research report on Tuesday, September 19th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $140.65.

Check Out Our Latest Research Report on Prologis

Prologis Stock Performance

NYSE:PLD opened at $114.07 on Monday. The firm has a market capitalization of $105.38 billion, a PE ratio of 30.02, a price-to-earnings-growth ratio of 2.27 and a beta of 0.98. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.48. Prologis has a 12-month low of $98.03 and a 12-month high of $136.67. The firm has a 50-day moving average price of $123.06 and a 200 day moving average price of $122.60.

Prologis (NYSE:PLD – Get Free Report) last announced its quarterly earnings data on Tuesday, July 18th. The real estate investment trust reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.15. The company had revenue of $2.45 billion during the quarter, compared to analysts’ expectations of $1.72 billion. Prologis had a net margin of 42.52% and a return on equity of 6.17%. The business’s revenue was up 95.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.11 EPS.

Hedge Funds Weigh In On Prologis

Institutional investors and hedge funds have recently modified their holdings of the business. Norges Bank bought a new stake in shares of Prologis during the fourth quarter worth $980,759,000. Bank Julius Baer & Co. Ltd Zurich raised its stake in shares of Prologis by 69,785.9% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 7,903,391 shares of the real estate investment trust’s stock valued at $969,193,000 after purchasing an additional 7,892,082 shares during the period. Providence Capital Advisors LLC lifted its holdings in shares of Prologis by 12,581.9% in the first quarter. Providence Capital Advisors LLC now owns 5,760,504 shares of the real estate investment trust’s stock valued at $46,168,000 after purchasing an additional 5,715,081 shares in the last quarter. Morgan Stanley boosted its position in shares of Prologis by 48.0% during the fourth quarter. Morgan Stanley now owns 14,577,827 shares of the real estate investment trust’s stock worth $1,643,359,000 after buying an additional 4,729,040 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of Prologis by 25.3% during the fourth quarter. Geode Capital Management LLC now owns 18,105,281 shares of the real estate investment trust’s stock worth $2,037,162,000 after buying an additional 3,653,101 shares in the last quarter. 90.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Prologis

In other news, Director George L. Fotiades sold 10,711 shares of Prologis stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $123.98, for a total transaction of $1,327,949.78. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.50% of the company’s stock.

Prologis Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Monday, September 18th will be paid a $0.87 dividend. The ex-dividend date is Friday, September 15th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 3.05%. Prologis’s dividend payout ratio (DPR) is presently 91.58%.

About Prologis

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Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At June 30, 2023, 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 (114 million square meters) in 19 countries.