Prologis Inc (NYSE:PLD) – Jefferies Financial Group boosted their Q1 2020 earnings per share (EPS) estimates for Prologis in a report released on Tuesday, November 5th. Jefferies Financial Group analyst J. Petersen now forecasts that the real estate investment trust will earn $0.89 per share for the quarter, up from their previous forecast of $0.87. Jefferies Financial Group also issued estimates for Prologis’ Q2 2020 earnings at $0.90 EPS, Q3 2020 earnings at $0.91 EPS, Q4 2020 earnings at $0.93 EPS, FY2020 earnings at $3.63 EPS, Q1 2021 earnings at $0.94 EPS, Q2 2021 earnings at $0.96 EPS, Q3 2021 earnings at $0.97 EPS and FY2021 earnings at $3.86 EPS.
Several other research firms have also recently issued reports on PLD. BMO Capital Markets reissued a “buy” rating and issued a $95.00 target price (up from $85.00) on shares of Prologis in a research report on Wednesday. Barclays set a $92.00 target price on shares of Prologis and gave the stock a “buy” rating in a research report on Friday, October 11th. Deutsche Bank raised their target price on shares of Prologis from $82.00 to $87.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. SunTrust Banks raised their target price on shares of Prologis from $89.00 to $95.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Finally, ValuEngine cut shares of Prologis from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $88.58.
PLD opened at $87.07 on Friday. The company’s 50 day simple moving average is $87.04 and its 200 day simple moving average is $81.66. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.27 and a current ratio of 1.27. Prologis has a 1 year low of $55.21 and a 1 year high of $92.49. The stock has a market capitalization of $54.27 billion, a PE ratio of 28.74, a P/E/G ratio of 4.52 and a beta of 0.99.
Prologis (NYSE:PLD) last released its earnings results on Tuesday, October 15th. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.23. Prologis had a net margin of 53.87% and a return on equity of 6.92%. The business had revenue of $712.00 million for the quarter, compared to analysts’ expectations of $715.40 million. During the same period last year, the company earned $0.72 earnings per share. The company’s quarterly revenue was up 16.5% on a year-over-year basis.
A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in Prologis by 0.4% during the second quarter. Vanguard Group Inc. now owns 82,772,891 shares of the real estate investment trust’s stock valued at $6,630,109,000 after buying an additional 307,216 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Prologis by 22.6% during the second quarter. Price T Rowe Associates Inc. MD now owns 20,391,209 shares of the real estate investment trust’s stock valued at $1,633,336,000 after buying an additional 3,763,203 shares in the last quarter. Invesco Ltd. lifted its position in shares of Prologis by 52.6% during the second quarter. Invesco Ltd. now owns 16,686,890 shares of the real estate investment trust’s stock worth $1,336,620,000 after purchasing an additional 5,752,196 shares in the last quarter. Northern Trust Corp lifted its position in shares of Prologis by 3.7% during the second quarter. Northern Trust Corp now owns 11,252,225 shares of the real estate investment trust’s stock worth $901,303,000 after purchasing an additional 397,397 shares in the last quarter. Finally, Nuveen Asset Management LLC lifted its position in shares of Prologis by 320.0% during the second quarter. Nuveen Asset Management LLC now owns 9,862,940 shares of the real estate investment trust’s stock worth $790,021,000 after purchasing an additional 7,514,715 shares in the last quarter. 95.64% of the stock is currently owned by hedge funds and other institutional investors.
Prologis Company Profile
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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