Prologis (NYSE:PLD) Issues Quarterly Earnings Results, Misses Estimates By $0.16 EPS
Prologis (NYSE:PLD) posted its quarterly earnings results on Monday. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.16), Fidelity Earnings reports. Prologis had a return on equity of 6.55% and a net margin of 55.04%. The firm had revenue of $700.69 million for the quarter, compared to the consensus estimate of $704.19 million. During the same period last year, the company posted $0.71 earnings per share. The business’s revenue was up 28.6% compared to the same quarter last year.
PLD opened at $81.61 on Thursday. The firm has a 50 day moving average of $79.51. Prologis has a 1-year low of $55.21 and a 1-year high of $83.99. The company has a current ratio of 0.20, a quick ratio of 0.36 and a debt-to-equity ratio of 0.43. The firm has a market cap of $51.38 billion, a P/E ratio of 26.93, a P/E/G ratio of 4.54 and a beta of 1.03.
The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Thursday, June 13th were paid a $0.53 dividend. The ex-dividend date of this dividend was Wednesday, June 12th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.60%. Prologis’s payout ratio is currently 69.97%.
In other news, insider Edward S. Nekritz sold 30,671 shares of the firm’s stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $75.01, for a total value of $2,300,631.71. Following the sale, the insider now directly owns 21,121 shares in the company, valued at approximately $1,584,286.21. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Philip L. Hawkins sold 9,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $78.72, for a total transaction of $708,480.00. Following the completion of the sale, the director now owns 35,511 shares in the company, valued at $2,795,425.92. The disclosure for this sale can be found here. Company insiders own 1.10% 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. 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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