Zacks Research Increases Earnings Estimates for Prologis

Prologis, Inc. (NYSE:PLD) – Equities researchers at Zacks Research lifted their FY2024 earnings per share (EPS) estimates for shares of Prologis in a report released on Wednesday, November 6th. Zacks Research analyst R. Department now anticipates that the real estate investment trust will post earnings per share of $5.43 for the year, up from their previous estimate of $5.39. The consensus estimate for Prologis’ current full-year earnings is $5.45 per share. Zacks Research also issued estimates for Prologis’ Q4 2024 earnings at $1.38 EPS, Q1 2025 earnings at $1.39 EPS, Q2 2025 earnings at $1.44 EPS, Q3 2025 earnings at $1.52 EPS, Q4 2025 earnings at $1.51 EPS, FY2025 earnings at $5.86 EPS, Q1 2026 earnings at $1.55 EPS, Q2 2026 earnings at $1.58 EPS, Q3 2026 earnings at $1.64 EPS and FY2026 earnings at $6.43 EPS.

Other equities research analysts have also recently issued reports about the company. Scotiabank decreased their price target on Prologis from $142.00 to $136.00 and set a “sector outperform” rating on the stock in a research report on Friday, October 25th. JPMorgan Chase & Co. reduced their price target on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. Barclays decreased their price target on shares of Prologis from $142.00 to $131.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. Evercore ISI lifted their price objective on Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Finally, Wells Fargo & Company raised their price target on Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a report on Wednesday, August 28th. Eight equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $131.12.

Prologis Stock Performance

NYSE:PLD opened at $114.10 on Monday. Prologis has a 52-week low of $101.11 and a 52-week high of $137.52. The business’s fifty day moving average is $122.69 and its 200 day moving average is $117.77. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43. The firm has a market cap of $105.68 billion, a price-to-earnings ratio of 34.47, a PEG ratio of 3.04 and a beta of 1.08.

Prologis (NYSE:PLD) last posted its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.29). Prologis had a net margin of 39.08% and a return on equity of 5.34%. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same period last year, the firm earned $1.30 EPS. The business’s revenue for the quarter was up 6.9% on a year-over-year basis.

Prologis Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were paid a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 3.37%. The ex-dividend date was Monday, September 16th. Prologis’s payout ratio is 116.01%.

Insider Activity at Prologis

In related news, CIO Joseph Ghazal sold 5,200 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $1,702,046.09. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PLD. Swedbank AB bought a new stake in shares of Prologis in the 1st quarter worth approximately $596,614,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in Prologis during the 2nd quarter valued at about $203,223,000. Vanguard Group Inc. increased its stake in Prologis by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 120,945,384 shares of the real estate investment trust’s stock valued at $15,749,508,000 after purchasing an additional 1,460,229 shares in the last quarter. AMF Tjanstepension AB raised its holdings in Prologis by 267.9% in the third quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust’s stock worth $236,879,000 after buying an additional 1,365,811 shares during the last quarter. Finally, Federated Hermes Inc. grew its holdings in shares of Prologis by 326.3% during the second quarter. Federated Hermes Inc. now owns 1,774,932 shares of the real estate investment trust’s stock valued at $199,343,000 after buying an additional 1,358,542 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors.

About Prologis

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.