Prologis, Inc. to Post FY2018 Earnings of $2.88 Per Share, Jefferies Group Forecasts (PLD)
Prologis, Inc. (NYSE:PLD) – Stock analysts at Jefferies Group boosted their FY2018 earnings estimates for Prologis in a research report issued to clients and investors on Wednesday. Jefferies Group analyst J. Petersen now forecasts that the real estate investment trust will post earnings of $2.88 per share for the year, up from their previous estimate of $2.86. Jefferies Group has a “Hold” rating and a $66.00 price objective on the stock. Jefferies Group also issued estimates for Prologis’ FY2019 earnings at $3.13 EPS.
Prologis (NYSE:PLD) last released its quarterly earnings results on Tuesday, July 18th. The real estate investment trust reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.06. Prologis had a net margin of 43.99% and a return on equity of 6.65%. The firm had revenue of $766.18 million for the quarter, compared to analysts’ expectations of $576 million. During the same quarter last year, the company earned $0.60 EPS. The firm’s revenue for the quarter was up 27.2% compared to the same quarter last year. WARNING: This piece was first published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this piece on another domain, it was illegally stolen and republished in violation of United States and international copyright & trademark laws. The original version of this piece can be viewed at https://www.thecerbatgem.com/2017/08/26/prologis-inc-to-post-fy2018-earnings-of-2-88-per-share-jefferies-group-forecasts-pld.html.
Other analysts also recently issued research reports about the company. Evercore ISI reaffirmed an “outperform” rating and set a $64.00 target price (up previously from $61.00) on shares of Prologis in a research note on Friday, July 21st. Barclays PLC reaffirmed an “overweight” rating and set a $61.00 target price (up previously from $59.00) on shares of Prologis in a research note on Monday, July 24th. Zacks Investment Research raised Prologis from a “hold” rating to a “buy” rating and set a $62.00 target price on the stock in a research note on Monday, May 22nd. KeyCorp lifted their target price on Prologis from $62.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, July 25th. Finally, BidaskClub raised Prologis from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 18th. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $60.00.
Shares of Prologis (PLD) opened at 62.58 on Friday. The company has a 50-day moving average of $60.38 and a 200-day moving average of $55.51. The firm has a market cap of $33.28 billion, a PE ratio of 28.09 and a beta of 0.94. Prologis has a 1-year low of $45.93 and a 1-year high of $63.08.
In related news, CEO Hamid R. Moghadam sold 14,067 shares of Prologis stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $56.00, for a total value of $787,752.00. Following the transaction, the chief executive officer now directly owns 3,267 shares in the company, valued at approximately $182,952. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Hamid R. Moghadam sold 71,102 shares of Prologis stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $56.34, for a total value of $4,005,886.68. Following the completion of the transaction, the chief executive officer now owns 71,102 shares in the company, valued at $4,005,886.68. The disclosure for this sale can be found here. Insiders sold a total of 458,807 shares of company stock worth $26,018,101 over the last 90 days. Insiders own 1.31% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Creative Planning boosted its position in shares of Prologis by 13.2% in the first quarter. Creative Planning now owns 2,009 shares of the real estate investment trust’s stock worth $104,000 after buying an additional 234 shares during the last quarter. Candriam Luxembourg S.C.A. boosted its position in shares of Prologis by 19.9% in the first quarter. Candriam Luxembourg S.C.A. now owns 37,424 shares of the real estate investment trust’s stock worth $1,942,000 after buying an additional 6,223 shares during the last quarter. Meritage Portfolio Management bought a new position in shares of Prologis during the first quarter worth about $2,372,000. State of New Jersey Common Pension Fund D boosted its position in shares of Prologis by 3.9% in the first quarter. State of New Jersey Common Pension Fund D now owns 775,000 shares of the real estate investment trust’s stock worth $40,207,000 after buying an additional 29,000 shares during the last quarter. Finally, IFP Advisors Inc boosted its position in shares of Prologis by 10.7% in the first quarter. IFP Advisors Inc now owns 2,249 shares of the real estate investment trust’s stock worth $117,000 after buying an additional 218 shares during the last quarter. Institutional investors and hedge funds own 95.57% of the company’s stock.
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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