Prologis (NYSE:PLD) Releases FY24 Earnings Guidance

by · The Markets Daily

Prologis (NYSE:PLD – Get Free Report) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $5.42-5.46 for the period, compared to the consensus estimate of $5.42. Prologis also updated its FY 2024 guidance to 5.420-5.460 EPS.

Analysts Set New Price Targets

Several analysts have recently weighed in on PLD shares. BMO Capital Markets reissued a “market perform” rating and issued a $115.00 target price on shares of Prologis in a report on Monday, July 15th. Evercore ISI boosted their price objective on Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Barclays lowered their target price on shares of Prologis from $142.00 to $131.00 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. Argus lifted their target price on shares of Prologis from $120.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Finally, Morgan Stanley increased their price target on shares of Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. Seven equities research 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’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $132.71.

View Our Latest Report on PLD

Prologis Price Performance

Shares of NYSE PLD opened at $126.97 on Thursday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.52. The company’s 50-day moving average price is $125.40 and its 200 day moving average price is $117.72. Prologis has a 52 week low of $96.64 and a 52 week high of $137.52. The stock has a market cap of $117.55 billion, a price-to-earnings ratio of 37.13, a PEG ratio of 3.05 and a beta of 1.07.

Prologis (NYSE:PLD – Get Free Report) last released its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.41). Prologis had a net margin of 36.37% and a return on equity of 4.88%. The business had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the prior year, the company earned $1.83 earnings per share. The firm’s revenue for the quarter was down 18.1% compared to the same quarter last year. As a group, research analysts forecast that Prologis will post 5.42 earnings per share for the current fiscal year.

Prologis Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date of this dividend was Monday, September 16th. Prologis’s dividend payout ratio (DPR) is presently 112.28%.

Insiders Place Their Bets

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $129.07, for a total transaction of $671,164.00. Following the sale, the executive now directly owns 13,187 shares of the company’s stock, valued at $1,702,046.09. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.50% of the stock is currently owned by company insiders.

Prologis Company Profile

(Get Free Report)

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.

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