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.
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.
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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.
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