Zacks: Analysts Anticipate Prologis, Inc. (PLD) Will Announce Quarterly Sales of $619.06 Million
Brokerages predict that Prologis, Inc. (NYSE:PLD) will announce $619.06 million in sales for the current quarter, according to Zacks. Six analysts have issued estimates for Prologis’ earnings, with the highest sales estimate coming in at $647.40 million and the lowest estimate coming in at $579.86 million. Prologis reported sales of $704.57 million in the same quarter last year, which indicates a negative year-over-year growth rate of 12.1%. The business is expected to announce its next quarterly earnings results on Thursday, October 19th.
According to Zacks, analysts expect that Prologis will report full year sales of $619.06 million for the current fiscal year, with estimates ranging from $2.31 billion to $2.81 billion. For the next fiscal year, analysts expect that the company will post sales of $2.54 billion per share, with estimates ranging from $2.37 billion to $2.74 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Prologis.
Prologis (NYSE:PLD) last issued its quarterly earnings data on Tuesday, July 18th. The real estate investment trust reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.06. Prologis had a return on equity of 6.65% and a net margin of 43.99%. The firm had revenue of $766.18 million for the quarter, compared to analyst estimates of $576 million. During the same period in the prior year, the firm posted $0.60 EPS. The company’s revenue for the quarter was up 27.2% on a year-over-year basis.
A number of research firms recently issued reports on PLD. Zacks Investment Research lowered Prologis from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. BidaskClub upgraded Prologis from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. KeyCorp boosted their price objective on Prologis from $62.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, July 25th. Barclays PLC reiterated an “overweight” rating and set a $61.00 price objective (up from $59.00) on shares of Prologis in a research note on Monday, July 24th. Finally, Evercore ISI reiterated an “outperform” rating and set a $64.00 price objective (up from $61.00) on shares of Prologis in a research note on Friday, July 21st. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $59.60.
Prologis (PLD) opened at 59.71 on Friday. Prologis has a one year low of $45.93 and a one year high of $61.81. The firm has a market capitalization of $31.76 billion, a price-to-earnings ratio of 26.80 and a beta of 0.94. The firm has a 50-day moving average price of $59.49 and a 200-day moving average price of $54.65.
In other news, insider Edward S. Nekritz sold 25,000 shares of the company’s stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $55.31, for a total value of $1,382,750.00. Following the completion of the transaction, the insider now directly owns 199,950 shares in the company, valued at approximately $11,059,234.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Hamid R. Moghadam sold 14,067 shares of the company’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $56.00, for a total value of $787,752.00. Following the completion of the transaction, the chief executive officer now owns 3,267 shares of the company’s stock, valued at $182,952. The disclosure for this sale can be found here. Insiders sold a total of 483,807 shares of company stock valued at $27,400,851 over the last quarter. Company insiders own 1.31% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Brookfield Asset Management Inc. purchased a new position in Prologis during the first quarter worth about $227,403,000. Graybill Bartz & Assoc Ltd. boosted its position in Prologis by 2.3% in the first quarter. Graybill Bartz & Assoc Ltd. now owns 49,830 shares of the real estate investment trust’s stock worth $2,585,000 after buying an additional 1,100 shares during the last quarter. Capital Impact Advisors LLC purchased a new position in Prologis during the first quarter worth about $1,775,000. Sprott Inc. purchased a new position in Prologis during the first quarter worth about $306,000. Finally, Ameriprise Financial Inc. boosted its position in Prologis by 13.4% in the first quarter. Ameriprise Financial Inc. now owns 3,578,338 shares of the real estate investment trust’s stock worth $185,307,000 after buying an additional 422,806 shares during the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.
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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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