Prologis Inc (NYSE:PLD) – Research analysts at SunTrust Banks upped their Q3 2019 EPS estimates for shares of Prologis in a report released on Monday, August 12th. SunTrust Banks analyst K. Kim now expects that the real estate investment trust will post earnings per share of $0.92 for the quarter, up from their prior forecast of $0.90. SunTrust Banks currently has a “Buy” rating and a $89.00 price target on the stock. SunTrust Banks also issued estimates for Prologis’ Q4 2019 earnings at $0.85 EPS, FY2019 earnings at $3.27 EPS, FY2020 earnings at $3.43 EPS, FY2021 earnings at $3.62 EPS and FY2022 earnings at $3.77 EPS.
Prologis (NYSE:PLD) last posted its quarterly earnings data on Monday, July 15th. The real estate investment trust reported $0.60 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.16). The company had revenue of $700.69 million for the quarter, compared to analyst estimates of $704.19 million. Prologis had a return on equity of 6.55% and a net margin of 55.04%. The company’s quarterly revenue was up 28.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.71 earnings per share.
NYSE PLD opened at $82.39 on Thursday. The company has a market capitalization of $51.64 billion, a PE ratio of 27.19, a P/E/G ratio of 4.41 and a beta of 1.03. The company has a fifty day moving average of $81.33 and a 200 day moving average of $75.80. Prologis has a 1 year low of $55.21 and a 1 year high of $83.99. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.54 and a quick ratio of 0.54.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Comerica Securities Inc. boosted its holdings in Prologis by 58.0% in the fourth quarter. Comerica Securities Inc. now owns 6,659 shares of the real estate investment trust’s stock worth $391,000 after acquiring an additional 2,445 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Prologis by 7.4% in the fourth quarter. Geode Capital Management LLC now owns 9,243,695 shares of the real estate investment trust’s stock worth $541,949,000 after acquiring an additional 636,563 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new position in Prologis in the first quarter worth approximately $248,000. First Manhattan Co. boosted its holdings in Prologis by 69.7% in the first quarter. First Manhattan Co. now owns 12,569 shares of the real estate investment trust’s stock worth $904,000 after acquiring an additional 5,163 shares in the last quarter. Finally, Resolution Capital Ltd boosted its holdings in Prologis by 10.2% in the first quarter. Resolution Capital Ltd now owns 5,650,232 shares of the real estate investment trust’s stock worth $406,534,000 after acquiring an additional 522,235 shares in the last quarter. 95.35% of the stock is owned by institutional investors.
In other Prologis news, insider Eugene F. Reilly sold 12,500 shares of Prologis stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $81.72, for a total value of $1,021,500.00. Following the completion of the transaction, the insider now owns 10,685 shares of the company’s stock, valued at $873,178.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Philip L. Hawkins sold 9,000 shares of Prologis stock in a transaction 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 transaction, the director now directly owns 35,511 shares of the company’s stock, valued at approximately $2,795,425.92. The disclosure for this sale can be found here. Insiders sold 34,551 shares of company stock valued at $2,803,425 in the last ninety days. 1.10% of the stock is owned by corporate insiders.
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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