Zacks Research Equities Analysts Reduce Earnings Estimates for Prologis, Inc. (NYSE:PLD)

Prologis, Inc. (NYSE:PLD) – Investment analysts at Zacks Research decreased their Q2 2024 earnings per share estimates for shares of Prologis in a report released on Wednesday, June 26th. Zacks Research analyst R. Department now forecasts that the real estate investment trust will post earnings of $1.33 per share for the quarter, down from their previous estimate of $1.34. The consensus estimate for Prologis’ current full-year earnings is $5.42 per share. Zacks Research also issued estimates for Prologis’ Q4 2024 earnings at $1.41 EPS, FY2024 earnings at $5.40 EPS and FY2026 earnings at $6.73 EPS.

Several other brokerages also recently issued reports on PLD. The Goldman Sachs Group lowered their price objective on shares of Prologis from $163.00 to $140.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. Scotiabank decreased their price target on shares of Prologis from $149.00 to $130.00 and set a “sector outperform” rating on the stock in a research report on Thursday, May 16th. JPMorgan Chase & Co. cut their price objective on shares of Prologis from $143.00 to $128.00 and set an “overweight” rating for the company in a research report on Thursday, April 25th. Royal Bank of Canada lowered their price target on Prologis from $145.00 to $124.00 and set an “outperform” rating on the stock in a research note on Monday, May 6th. Finally, BMO Capital Markets downgraded Prologis from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $145.00 to $112.00 in a research report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Prologis currently has a consensus rating of “Moderate Buy” and an average target price of $129.76.

Prologis Stock Performance

PLD opened at $111.35 on Friday. Prologis has a 12-month low of $96.64 and a 12-month high of $137.52. The firm has a market capitalization of $103.09 billion, a P/E ratio of 32.31, a price-to-earnings-growth ratio of 2.45 and a beta of 1.07. The stock’s 50 day moving average price is $107.83 and its two-hundred day moving average price is $121.97. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.51.

Prologis Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 17th will be given a dividend of $0.96 per share. The ex-dividend date of this dividend is Monday, June 17th. This represents a $3.84 dividend on an annualized basis and a yield of 3.45%. Prologis’s dividend payout ratio (DPR) is presently 112.28%.

Hedge Funds Weigh In On Prologis

A number of institutional investors and hedge funds have recently bought and sold shares of PLD. Optimum Investment Advisors bought a new stake in Prologis during the 1st quarter worth about $26,000. True Wealth Design LLC bought a new stake in shares of Prologis during the fourth quarter valued at approximately $27,000. Thompson Investment Management Inc. acquired a new stake in shares of Prologis in the fourth quarter valued at approximately $28,000. JFS Wealth Advisors LLC raised its position in Prologis by 254.5% in the 4th quarter. JFS Wealth Advisors LLC now owns 234 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 168 shares during the last quarter. Finally, Clear Investment Research LLC lifted its holdings in Prologis by 188.1% during the 4th quarter. Clear Investment Research LLC now owns 242 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 158 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

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.