Prologis (PLD) Posts Earnings Results, Beats Estimates By $0.33 EPS

Prologis (NYSE:PLD) announced its quarterly earnings results on Tuesday. The real estate investment trust reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.33, Fidelity Earnings reports. The company had revenue of $555.90 million for the quarter, compared to analysts’ expectations of $552.42 million. Prologis had a net margin of 63.11% and a return on equity of 9.12%. The business’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same period last year, the firm posted $0.63 earnings per share. Prologis updated its FY18 guidance to $2.95-3.01 EPS.

Prologis stock opened at $65.30 on Wednesday. The stock has a market cap of $33,369.18, a PE ratio of 23.24, a PEG ratio of 4.70 and a beta of 0.83. Prologis has a fifty-two week low of $53.15 and a fifty-two week high of $67.53. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.51.

How to Become a New Pot Stock Millionaire

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 29th. Shareholders of record on Thursday, March 15th were paid a $0.48 dividend. This is a positive change from Prologis’s previous quarterly dividend of $0.44. This represents a $1.92 annualized dividend and a yield of 2.94%. The ex-dividend date was Wednesday, March 14th. Prologis’s payout ratio is presently 68.33%.

A number of equities analysts have recently weighed in on the stock. BMO Capital Markets set a $68.00 price target on shares of Prologis and gave the stock a “buy” rating in a research report on Tuesday. Jefferies Group upgraded shares of Prologis from a “hold” rating to a “buy” rating in a report on Thursday, April 12th. Citigroup upgraded shares of Prologis from a “neutral” rating to a “buy” rating and set a $72.00 price objective on the stock in a report on Friday, April 6th. ValuEngine upgraded shares of Prologis from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. Finally, JPMorgan Chase upgraded shares of Prologis from a “neutral” rating to an “overweight” rating in a report on Tuesday, March 27th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. Prologis presently has a consensus rating of “Buy” and a consensus target price of $67.94.

In other news, Director William D. Zollars sold 4,020 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $60.48, for a total transaction of $243,129.60. Following the transaction, the director now directly owns 20,225 shares in the company, valued at approximately $1,223,208. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael S. Curless sold 14,465 shares of the business’s stock in a transaction dated Wednesday, March 28th. The stock was sold at an average price of $62.49, for a total transaction of $903,917.85. Following the transaction, the insider now owns 102 shares in the company, valued at $6,373.98. The disclosure for this sale can be found here. 1.32% of the stock is owned by insiders.

ILLEGAL ACTIVITY NOTICE: This report was originally posted by Transcript Daily and is the sole property of of Transcript Daily. If you are accessing this report on another domain, it was illegally copied and reposted in violation of US & international copyright & trademark law. The correct version of this report can be accessed at https://transcriptdaily.com/2018/04/17/prologis-pld-announces-earnings-results.html.

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, 2017, 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 684 million square feet (64 million square meters) in 19 countries.

Earnings History for Prologis (NYSE:PLD)

Receive News & Ratings for Prologis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prologis and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply