Q2 2024 Earnings Forecast for Prologis, Inc. Issued By Zacks Research (NYSE:PLD)

Prologis, Inc. (NYSE:PLD) – Stock analysts at Zacks Research reduced their Q2 2024 earnings estimates for Prologis in a research note issued on Wednesday, June 26th. Zacks Research analyst R. Department now expects that the real estate investment trust will post earnings per share of $1.33 for the quarter, down from their previous estimate of $1.34. The consensus estimate for Prologis’ current full-year earnings is $5.42 per share. Zacks Research also issued estimates for Prologis’ Q4 2024 earnings at $1.41 EPS, FY2024 earnings at $5.40 EPS and FY2026 earnings at $6.73 EPS.

PLD has been the topic of several other research reports. The Goldman Sachs Group cut their target price on shares of Prologis from $163.00 to $140.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Evercore ISI lowered their price objective on Prologis from $136.00 to $123.00 and set an “in-line” rating for the company in a research report on Thursday, April 18th. Mizuho lowered their price objective on Prologis from $130.00 to $120.00 and set a “neutral” rating for the company in a research report on Friday, May 31st. Argus lowered their price objective on Prologis from $139.00 to $120.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. Finally, Barclays lowered their price objective on Prologis from $135.00 to $123.00 and set an “overweight” rating for the company in a research report on Monday, April 29th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $129.76.

Prologis Stock Up 0.9 %

Shares of Prologis stock opened at $112.31 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.29 and a current ratio of 0.29. Prologis has a 52-week low of $96.64 and a 52-week high of $137.52. The stock has a market capitalization of $103.98 billion, a price-to-earnings ratio of 32.84, a P/E/G ratio of 2.48 and a beta of 1.07. The company’s 50 day moving average price is $108.14 and its 200-day moving average price is $121.83.

Prologis Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 17th were paid a dividend of $0.96 per share. The ex-dividend date was Monday, June 17th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.42%. Prologis’s dividend payout ratio is currently 112.28%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in PLD. Valeo Financial Advisors LLC lifted its position in shares of Prologis by 182,067.2% during the 1st quarter. Valeo Financial Advisors LLC now owns 48,877,279 shares of the real estate investment trust’s stock valued at $6,364,799,000 after buying an additional 48,850,448 shares in the last quarter. Norges Bank purchased a new position in shares of Prologis during the 4th quarter valued at about $1,074,648,000. Capital World Investors lifted its position in shares of Prologis by 1,252.9% during the 4th quarter. Capital World Investors now owns 7,305,582 shares of the real estate investment trust’s stock valued at $973,834,000 after buying an additional 6,765,582 shares in the last quarter. Swedbank AB purchased a new position in shares of Prologis during the 1st quarter valued at about $596,614,000. Finally, Alphinity Investment Management Pty Ltd purchased a new position in Prologis in the 1st quarter worth approximately $465,659,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

About Prologis

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At March 31, 2024, 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.