Prologis (NYSE:PLD) Releases FY 2024 Earnings Guidance

Prologis (NYSE:PLD) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 5.420-5.460 for the period, compared to the consensus estimate of 5.410. The company issued revenue guidance of -. Prologis also updated its FY24 guidance to $5.42-5.46 EPS.

Wall Street Analyst Weigh In

PLD has been the subject of several research reports. Wells Fargo & Company increased their target price on shares of Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a research note on Wednesday, August 28th. StockNews.com raised Prologis from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Morgan Stanley boosted their price objective on Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. Royal Bank of Canada cut Prologis from an “outperform” rating to a “sector perform” rating and raised their target price for the stock from $124.00 to $127.00 in a research report on Monday, August 5th. Finally, Evercore ISI boosted their price target on shares of Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Seven analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Prologis currently has an average rating of “Moderate Buy” and an average price target of $132.71.

Prologis Stock Down 0.2 %

Shares of PLD opened at $122.50 on Friday. The company has a market capitalization of $113.42 billion, a P/E ratio of 35.82, a PEG ratio of 3.05 and a beta of 1.07. Prologis has a one year low of $96.64 and a one year high of $137.52. The business’s 50 day simple moving average is $125.43 and its 200-day simple moving average is $117.72. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.36 and a quick ratio of 0.36.

Prologis (NYSE:PLD) last announced its earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.29). Prologis had a return on equity of 4.88% and a net margin of 36.37%. The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter in the previous year, the company posted $1.30 EPS. Prologis’s revenue for the quarter was up 6.9% on a year-over-year basis. As a group, sell-side analysts predict that Prologis will post 5.42 EPS for the current fiscal year.

Prologis Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date was Monday, September 16th. Prologis’s dividend payout ratio is presently 112.28%.

Insider Transactions at Prologis

In related news, CIO Joseph Ghazal sold 5,200 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $129.07, for a total value of $671,164.00. Following the completion of the sale, the executive now owns 13,187 shares of the company’s stock, valued at $1,702,046.09. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.50% of the stock is owned by company insiders.

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.