$544.93 Million in Sales Expected for Prologis Inc (PLD) This Quarter

Analysts forecast that Prologis Inc (NYSE:PLD) will report sales of $544.93 million for the current fiscal quarter, Zacks reports. Five analysts have made estimates for Prologis’ earnings. The lowest sales estimate is $526.60 million and the highest is $559.80 million. Prologis reported sales of $629.16 million in the same quarter last year, which indicates a negative year over year growth rate of 13.4%. The company is expected to issue its next quarterly earnings report before the market opens on Tuesday, April 17th.

According to Zacks, analysts expect that Prologis will report full-year sales of $544.93 million for the current fiscal year, with estimates ranging from $2.18 billion to $2.31 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $2.40 billion per share, with estimates ranging from $2.33 billion to $2.49 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Prologis.

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Prologis (NYSE:PLD) last announced its quarterly earnings results on Tuesday, January 23rd. The real estate investment trust reported $0.67 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.01. Prologis had a return on equity of 9.12% and a net margin of 63.11%. The firm had revenue of $550.65 million for the quarter, compared to analysts’ expectations of $533.54 million. During the same period in the prior year, the business posted $0.63 earnings per share. The company’s revenue was down 1.6% on a year-over-year basis.

Several equities research analysts have recently weighed in on the company. JPMorgan Chase upgraded Prologis from a “neutral” rating to an “overweight” rating in a research report on Tuesday, March 27th. Robert W. Baird upped their price objective on shares of Prologis from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, January 24th. Cantor Fitzgerald set a $69.00 price objective on shares of Prologis and gave the stock a “buy” rating in a research report on Tuesday, January 23rd. Jefferies Group restated a “neutral” rating on shares of Prologis in a research report on Wednesday, January 24th. Finally, Barclays upped their price objective on shares of Prologis from $61.00 to $64.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 30th. One analyst has rated the stock with a sell rating, three have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $67.56.

Shares of PLD opened at $62.99 on Monday. Prologis has a twelve month low of $49.95 and a twelve month high of $67.53. The stock has a market cap of $33,577.07, a PE ratio of 22.42, a P/E/G ratio of 4.74 and a beta of 0.88. 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 company also recently announced a quarterly dividend, which was paid on Thursday, March 29th. Shareholders of record on Thursday, March 15th were paid a $0.48 dividend. The ex-dividend date was Wednesday, March 14th. This represents a $1.92 annualized dividend and a yield of 3.05%. This is a positive change from Prologis’s previous quarterly dividend of $0.44. Prologis’s dividend payout ratio is currently 68.33%.

In other Prologis news, Director William D. Zollars sold 4,020 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $60.48, for a total value of $243,129.60. Following the completion of the sale, the director now owns 20,225 shares of the company’s stock, valued at $1,223,208. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Michael S. Curless sold 14,465 shares of the company’s stock in a transaction that occurred on Wednesday, March 28th. The stock was sold at an average price of $62.49, for a total value of $903,917.85. Following the completion of the sale, the insider now directly owns 102 shares of the company’s stock, valued at approximately $6,373.98. The disclosure for this sale can be found here. 1.31% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. boosted its stake in Prologis by 0.8% in the fourth quarter. BlackRock Inc. now owns 53,388,532 shares of the real estate investment trust’s stock worth $3,444,094,000 after buying an additional 430,576 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Prologis by 0.4% in the fourth quarter. Bank of New York Mellon Corp now owns 11,150,415 shares of the real estate investment trust’s stock worth $719,315,000 after buying an additional 42,435 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Prologis by 8.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 8,652,177 shares of the real estate investment trust’s stock worth $558,151,000 after buying an additional 638,453 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Prologis by 1.9% in the third quarter. Dimensional Fund Advisors LP now owns 7,505,224 shares of the real estate investment trust’s stock worth $476,282,000 after buying an additional 137,807 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Prologis by 4.3% in the fourth quarter. Geode Capital Management LLC now owns 6,849,783 shares of the real estate investment trust’s stock worth $441,114,000 after buying an additional 280,857 shares in the last quarter. 95.39% of the stock is owned by institutional investors and hedge funds.

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About Prologis

Prologis, Inc is a real estate investment trust (REIT) company. The Company is engaged in logistics real estate business. The Company’s segments include Real Estate Operations and Strategic Capital. The Real estate operations segment consists of rental operations and development. The Company’s strategic capital segment includes asset management services, as well as services performed for unconsolidated co-investment ventures.

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Earnings History and Estimates for Prologis (NYSE:PLD)

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