Prologis (PLD) to Release Earnings on Wednesday

Prologis (NYSE:PLD) is set to announce its earnings results before the market opens on Wednesday, October 16th. Analysts expect the company to announce earnings of $1.38 per share for the quarter. Prologis has set its FY24 guidance at $5.39-5.47 EPS and its FY 2024 guidance at 5.390-5.470 EPS.Individual interested in registering for the company’s earnings conference call can do so using this link.

Prologis (NYSE:PLD) last posted its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.92 EPS for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.41). Prologis had a return on equity of 4.88% and a net margin of 36.37%. The firm had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same period in the prior year, the business posted $1.83 EPS. The company’s revenue for the quarter was down 18.1% on a year-over-year basis. On average, analysts expect Prologis to post $5 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Prologis Price Performance

Shares of NYSE:PLD opened at $119.32 on Wednesday. The company’s fifty day moving average is $125.77 and its two-hundred day moving average is $118.02. The company has a market cap of $110.47 billion, a P/E ratio of 34.73, a price-to-earnings-growth ratio of 3.25 and a beta of 1.07. Prologis has a 12-month low of $96.64 and a 12-month high of $137.52. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.52.

Prologis Announces Dividend

The firm also recently disclosed 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 yield of 3.22%. The ex-dividend date of this dividend was Monday, September 16th. Prologis’s dividend payout ratio is currently 112.28%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Bank of America reiterated a “neutral” rating and issued a $128.00 target price on shares of Prologis in a report on Monday, August 12th. Argus upped their price objective on shares of Prologis from $120.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. BMO Capital Markets reissued a “market perform” rating and set a $115.00 target price on shares of Prologis in a research note on Monday, July 15th. Scotiabank upped their price target on shares of Prologis from $135.00 to $142.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 26th. Finally, StockNews.com upgraded Prologis from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Seven investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $133.35.

Insider Buying and Selling

In related news, CIO Joseph Ghazal sold 5,200 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $129.07, for a total transaction of $671,164.00. Following the completion of the sale, the executive now directly owns 13,187 shares of the company’s stock, valued at approximately $1,702,046.09. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.50% 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.