According to Zacks, “Shares of Prologis have outperformed its industry, over the past three months. Notably, the industrial real estate category continues to witness soaring demand for space amid healthy economy, job-market gains, high-consumer spending and e-commerce boom. Companies are making immense efforts to improve supply-chain efficiencies, propelling demand for logistics infrastructure and efficient distribution networks. Given Prologis’ balance-sheet strength and prudent financial management, it remains well poised to capitalize on this favorable trend. However, a whole lot of new buildings are slated to be completed and made available in the market in the near term, leading to higher supply and lesser scope for rent and occupancy growth. Additionally, any protectionist trade policies will have an adverse impact on economic growth, as well as the company’s business over the long term.”
A number of other analysts have also recently issued reports on PLD. Wells Fargo & Co set a $65.00 target price on Prologis and gave the company a market perform rating in a research report on Wednesday, January 16th. They noted that the move was a valuation call. Barclays reissued a buy rating on shares of Prologis in a research report on Thursday, February 21st. Robert W. Baird cut Prologis from an outperform rating to a neutral rating and decreased their target price for the company from $73.00 to $71.00 in a research report on Friday, March 1st. KeyCorp upped their target price on Prologis from $72.00 to $77.00 and gave the company a buy rating in a research report on Monday, March 25th. Finally, BMO Capital Markets reissued a buy rating and issued a $70.00 target price on shares of Prologis in a research report on Sunday, April 21st. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $74.15.
Prologis (NYSE:PLD) last announced its earnings results on Tuesday, April 16th. The real estate investment trust reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.01. The firm had revenue of $696.80 million during the quarter, compared to analysts’ expectations of $687.21 million. Prologis had a return on equity of 6.83% and a net margin of 56.56%. The business’s revenue was up 25.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.80 EPS. As a group, research analysts forecast that Prologis will post 3.22 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Thursday, June 13th will be paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 2.77%. The ex-dividend date is Wednesday, June 12th. Prologis’s dividend payout ratio is presently 69.97%.
In other Prologis news, insider Edward S. Nekritz sold 30,671 shares of the company’s stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $75.01, for a total transaction of $2,300,631.71. Following the completion of the sale, the insider now directly owns 21,121 shares of the company’s stock, valued at approximately $1,584,286.21. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Edward S. Nekritz sold 16,059 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $71.86, for a total value of $1,153,999.74. Following the sale, the insider now directly owns 51,792 shares of the company’s stock, valued at $3,721,773.12. The disclosure for this sale can be found here. 1.10% of the stock is owned by corporate insiders.
Hedge funds have recently modified their holdings of the company. Berman Capital Advisors LLC raised its stake in shares of Prologis by 105.3% during the 1st quarter. Berman Capital Advisors LLC now owns 388 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 199 shares in the last quarter. Cresset Asset Management LLC purchased a new position in shares of Prologis during the 1st quarter worth approximately $29,000. Clean Yield Group purchased a new position in shares of Prologis during the 4th quarter worth approximately $31,000. Benjamin F. Edwards & Company Inc. raised its stake in shares of Prologis by 134.5% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 523 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 300 shares in the last quarter. Finally, Lindbrook Capital LLC purchased a new position in shares of Prologis during the 4th quarter worth approximately $33,000. 94.95% of the stock is owned by institutional investors and hedge funds.
Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of December 31, 2018, 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 768 million square feet (71 million square meters) in 19 countries.
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