Q1 2024 EPS Estimates for Prologis, Inc. (NYSE:PLD) Decreased by Zacks Research

Prologis, Inc. (NYSE:PLDFree Report) – Equities researchers at Zacks Research reduced their Q1 2024 earnings estimates for Prologis in a research report issued on Wednesday, February 7th. Zacks Research analyst R. Department now expects that the real estate investment trust will earn $1.30 per share for the quarter, down from their previous estimate of $1.31. The consensus estimate for Prologis’ current full-year earnings is $5.51 per share. Zacks Research also issued estimates for Prologis’ Q4 2024 earnings at $1.42 EPS, FY2024 earnings at $5.47 EPS, Q1 2025 earnings at $1.48 EPS, Q2 2025 earnings at $1.51 EPS, Q3 2025 earnings at $1.53 EPS, Q4 2025 earnings at $1.58 EPS, FY2025 earnings at $6.10 EPS and FY2026 earnings at $6.90 EPS.

PLD has been the subject of a number of other research reports. Stifel Nicolaus reiterated a “buy” rating and set a $130.00 target price on shares of Prologis in a report on Tuesday, November 21st. StockNews.com raised shares of Prologis from a “sell” rating to a “hold” rating in a research report on Thursday, December 14th. Raymond James lifted their target price on shares of Prologis from $130.00 to $145.00 and gave the company a “strong-buy” rating in a report on Wednesday, January 24th. Mizuho upped their price target on shares of Prologis from $125.00 to $130.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 10th. Finally, Scotiabank raised their price objective on Prologis from $134.00 to $143.00 and gave the company a “sector outperform” rating in a research report on Friday, December 15th. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $141.50.

View Our Latest Research Report on Prologis

Prologis Price Performance

PLD stock opened at $131.66 on Friday. The stock has a 50-day moving average price of $128.95 and a two-hundred day moving average price of $119.75. The company has a market cap of $121.65 billion, a PE ratio of 40.02, a price-to-earnings-growth ratio of 2.61 and a beta of 1.00. The company has a current ratio of 0.09, a quick ratio of 0.43 and a debt-to-equity ratio of 0.50. Prologis has a 12-month low of $96.64 and a 12-month high of $137.52.

Prologis (NYSE:PLDGet Free Report) last announced its quarterly earnings data on Wednesday, January 17th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.26 by ($0.58). The company had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.85 billion. Prologis had a net margin of 38.13% and a return on equity of 5.29%. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.24 earnings per share.

Institutional Investors Weigh In On Prologis

Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in Prologis by 2.0% during the 2nd quarter. BlackRock Inc. now owns 92,924,760 shares of the real estate investment trust’s stock valued at $11,395,363,000 after buying an additional 1,783,742 shares during the period. Geode Capital Management LLC raised its stake in shares of Prologis by 1.6% in the 2nd quarter. Geode Capital Management LLC now owns 18,762,836 shares of the real estate investment trust’s stock worth $2,294,586,000 after buying an additional 299,124 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Prologis by 6.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 16,519,324 shares of the real estate investment trust’s stock valued at $1,853,633,000 after buying an additional 1,034,211 shares in the last quarter. FMR LLC boosted its stake in Prologis by 1.2% during the third quarter. FMR LLC now owns 16,224,729 shares of the real estate investment trust’s stock valued at $1,820,577,000 after buying an additional 197,693 shares in the last quarter. Finally, Morgan Stanley raised its position in Prologis by 48.0% in 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 acquiring an additional 4,729,040 shares in the last quarter. 90.90% of the stock is currently owned by institutional investors.

Insider Transactions at Prologis

In other Prologis news, Director James B. Connor sold 103,331 shares of the business’s stock in a transaction on Wednesday, December 20th. The shares were sold at an average price of $133.20, for a total transaction of $13,763,689.20. Following the completion of the sale, the director now owns 21,419 shares in the company, valued at $2,853,010.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.50% of the company’s stock.

Prologis Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Monday, December 18th were paid a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a dividend yield of 2.64%. The ex-dividend date of this dividend was Friday, December 15th. Prologis’s dividend payout ratio (DPR) is currently 105.78%.

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 December 31, 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 (115 million square meters) in 19 countries.

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Earnings History and Estimates for Prologis (NYSE:PLD)

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