Analysts Issue Forecasts for Prologis, Inc.’s Q3 2017 Earnings (PLD)
Prologis, Inc. (NYSE:PLD) – Analysts at Jefferies Group issued their Q3 2017 earnings per share estimates for shares of Prologis in a research note issued to investors on Wednesday. Jefferies Group analyst J. Petersen anticipates that the real estate investment trust will post earnings of $0.66 per share for the quarter. Jefferies Group currently has a “Hold” rating and a $66.00 target price on the stock. Jefferies Group also issued estimates for Prologis’ Q4 2017 earnings at $0.68 EPS and FY2017 earnings at $2.81 EPS.
Prologis (NYSE:PLD) last posted its earnings results on Tuesday, July 18th. The real estate investment trust reported $0.84 EPS for the quarter, topping 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 business had revenue of $766.18 million for the quarter, compared to analysts’ expectations of $576 million. During the same period in the previous year, the company posted $0.60 earnings per share. The business’s revenue for the quarter was up 27.2% compared to the same quarter last year.
A number of other research analysts have also weighed in on the company. Evercore ISI reissued an “outperform” rating and set a $64.00 target price (up from $61.00) on shares of Prologis in a report on Friday, July 21st. Stifel Nicolaus reissued a “buy” rating and set a $60.00 target price on shares of Prologis in a report on Thursday, July 6th. Bank of America Corporation raised Prologis from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $58.00 to $65.00 in a report on Friday, June 23rd. 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 report on Monday, May 22nd. Finally, BidaskClub lowered Prologis from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $60.00.
Prologis (NYSE:PLD) opened at 62.18 on Monday. The firm has a market capitalization of $33.07 billion, a PE ratio of 27.91 and a beta of 0.94. Prologis has a 52-week low of $45.93 and a 52-week high of $63.08. The stock’s 50 day moving average is $60.38 and its 200-day moving average is $55.51.
In other news, Director Carl B. Webb sold 20,000 shares of the company’s stock in a transaction on Friday, July 28th. The stock was sold at an average price of $61.38, for a total transaction of $1,227,600.00. Following the completion of the sale, the director now directly owns 66,078 shares in the company, valued at approximately $4,055,867.64. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Hamid R. Moghadam sold 71,102 shares of the company’s stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $56.34, for a total value of $4,005,886.68. Following the sale, the chief executive officer now owns 71,102 shares of the company’s stock, valued at $4,005,886.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 187,019 shares of company stock valued at $10,787,102. Corporate insiders own 1.31% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in PLD. Brookfield Asset Management Inc. bought a new stake in Prologis during the first quarter worth $227,403,000. Sprott Inc. bought a new stake in Prologis during the first quarter worth $306,000. Ameriprise Financial Inc. increased its stake 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. Oregon Public Employees Retirement Fund increased its stake in Prologis by 16.5% in the first quarter. Oregon Public Employees Retirement Fund now owns 162,724 shares of the real estate investment trust’s stock worth $8,442,000 after buying an additional 23,099 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its stake in Prologis by 4.1% in the first quarter. Schwab Charles Investment Management Inc. now owns 4,050,931 shares of the real estate investment trust’s stock worth $210,163,000 after buying an additional 161,081 shares during the last quarter. Hedge funds and other institutional investors own 95.99% 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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