Prologis, Inc. Expected to Post Q2 2024 Earnings of $1.34 Per Share (NYSE:PLD)

Prologis, Inc. (NYSE:PLD - Free Report) - Zacks Research lowered their Q2 2024 earnings per share (EPS) estimates for Prologis in a research report issued on Wednesday, May 8th. Zacks Research analyst R. Department now expects that the real estate investment trust will earn $1.34 per share for the quarter, down from their previous forecast of $1.37. The consensus estimate for Prologis' current full-year earnings is $5.43 per share. Zacks Research also issued estimates for Prologis' Q3 2024 earnings at $1.37 EPS, FY2024 earnings at $5.41 EPS, Q1 2025 earnings at $1.43 EPS, Q2 2025 earnings at $1.47 EPS, Q3 2025 earnings at $1.52 EPS, Q4 2025 earnings at $1.56 EPS, FY2025 earnings at $5.98 EPS, Q1 2026 earnings at $1.62 EPS and FY2026 earnings at $6.84 EPS.

A number of other analysts have also issued reports on PLD. BMO Capital Markets lowered Prologis from an "outperform" rating to a "market perform" rating and reduced their target price for the company from $145.00 to $112.00 in a report on Monday, April 22nd. Morgan Stanley boosted their price target on shares of Prologis from $128.00 to $141.00 and gave the company an "overweight" rating in a report on Wednesday, January 24th. Raymond James increased their price objective on Prologis from $130.00 to $145.00 and gave the stock a "strong-buy" rating in a report on Wednesday, January 24th. StockNews.com downgraded Prologis from a "hold" rating to a "sell" rating in a research note on Wednesday, April 24th. Finally, Royal Bank of Canada cut their price target on Prologis from $145.00 to $124.00 and set an "outperform" rating for the company in a research note on Monday. One investment analyst has rated the stock with a sell rating, four have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $131.12.

Prologis Trading Down 0.6 %

PLD stock traded down $0.66 during mid-day trading on Friday, reaching $107.49. 2,872,759 shares of the stock traded hands, compared to its average volume of 3,559,123. The stock's fifty day moving average is $120.00 and its 200-day moving average is $121.69. The company has a market cap of $99.52 billion, a P/E ratio of 31.40, a P/E/G ratio of 2.20 and a beta of 1.05. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.51. Prologis has a 52-week low of $96.64 and a 52-week high of $137.52.

Prologis Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 17th will be issued a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date of this dividend is Monday, June 17th. Prologis's dividend payout ratio (DPR) is 112.28%.

Institutional Trading of Prologis

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Columbia Trust Co 01012016 lifted its position in shares of Prologis by 16.0% in the 4th quarter. Columbia Trust Co 01012016 now owns 5,240 shares of the real estate investment trust's stock worth $698,000 after acquiring an additional 723 shares during the period. Cyndeo Wealth Partners LLC boosted its stake in Prologis by 39.4% during the fourth quarter. Cyndeo Wealth Partners LLC now owns 42,005 shares of the real estate investment trust's stock worth $5,599,000 after buying an additional 11,882 shares in the last quarter. DNB Asset Management AS increased its holdings in Prologis by 17.1% in the 4th quarter. DNB Asset Management AS now owns 287,505 shares of the real estate investment trust's stock valued at $38,324,000 after buying an additional 42,073 shares during the period. Grassi Investment Management raised its stake in shares of Prologis by 31.8% in the 4th quarter. Grassi Investment Management now owns 252,146 shares of the real estate investment trust's stock valued at $33,611,000 after buying an additional 60,900 shares in the last quarter. Finally, Desjardins Global Asset Management Inc. lifted its holdings in shares of Prologis by 255.0% during the 4th quarter. Desjardins Global Asset Management Inc. now owns 16,124 shares of the real estate investment trust's stock worth $2,149,000 after acquiring an additional 11,582 shares during the period. Institutional investors and hedge funds own 93.50% of the company's stock.

Prologis Company Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 31, 2023, 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.