Prologis (NYSE:PLD) issued an update on its FY19 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $3.26-3.30 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.22. Prologis also updated its FY 2019 guidance to $3.26-3.30 EPS.
Shares of NYSE PLD opened at $81.61 on Thursday. Prologis has a 52 week low of $55.21 and a 52 week high of $83.99. The company has a quick ratio of 0.36, a current ratio of 0.20 and a debt-to-equity ratio of 0.43. The stock has a fifty day moving average of $79.51. The company has a market capitalization of $51.38 billion, a PE ratio of 26.93, a P/E/G ratio of 4.54 and a beta of 1.03.
Prologis (NYSE:PLD) last released its earnings results on Monday, July 15th. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.76 by ($0.16). Prologis had a net margin of 55.04% and a return on equity of 6.55%. The business had revenue of $700.69 million during the quarter, compared to the consensus estimate of $704.19 million. During the same quarter in the prior year, the firm earned $0.71 EPS. The business’s revenue was up 28.6% on a year-over-year basis. Research analysts anticipate that Prologis will post 3.28 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Thursday, June 13th were given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date of this dividend was Wednesday, June 12th. Prologis’s dividend payout ratio is presently 69.97%.
A number of research firms have issued reports on PLD. KeyCorp lifted their target price on Terreno Realty from $49.00 to $52.00 and gave the company an overweight rating in a research report on Wednesday, July 10th. Deutsche Bank cut Swedish Orphan Biovitrum AB (publ) from a buy rating to a hold rating in a research report on Thursday. Zacks Investment Research cut G1 Therapeutics from a buy rating to a hold rating in a research report on Thursday, May 16th. Citigroup set a $86.00 target price on Prologis and gave the company a buy rating in a research report on Thursday, June 6th. Finally, BMO Capital Markets decreased their target price on Wells Fargo & Co to $59.00 and set a market perform rating on the stock in a research report on Wednesday. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Prologis currently has a consensus rating of Buy and an average target price of $76.75.
In other Prologis news, insider Edward S. Nekritz sold 30,671 shares of the business’s stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $75.01, for a total value of $2,300,631.71. Following the transaction, the insider now directly owns 21,121 shares of the company’s stock, valued at $1,584,286.21. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Philip L. Hawkins sold 9,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $78.72, for a total value of $708,480.00. Following the completion of the transaction, the director now directly owns 35,511 shares in the company, valued at $2,795,425.92. The disclosure for this sale can be found here. 1.10% of the stock is owned by insiders.
Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of December 31, 2018, 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 768 million square feet (71 million square meters) in 19 countries.
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