Prologis (NYSE:PLD) Releases Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Prologis (NYSE:PLD) announced its quarterly earnings results on Wednesday. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.04, Zacks reports. Prologis had a net margin of 45.50% and a return on equity of 6.44%.

Prologis Trading Down 0.1 %

Shares of NYSE:PLD traded down $0.12 during midday trading on Wednesday, hitting $98.36. 483,556 shares of the stock traded hands, compared to its average volume of 4,153,435. The stock has a market capitalization of $91.18 billion, a PE ratio of 24.61, a P/E/G ratio of 2.70 and a beta of 1.20. Prologis has a one year low of $85.35 and a one year high of $132.57. The business’s 50 day moving average is $112.53 and its two-hundred day moving average is $113.68. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53.

Prologis Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th were given a $1.01 dividend. The ex-dividend date was Tuesday, March 18th. This represents a $4.04 annualized dividend and a yield of 4.11%. This is a boost from Prologis’s previous quarterly dividend of $0.96. Prologis’s payout ratio is currently 101.00%.

Insider Activity at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of the business’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the sale, the executive now owns 7,977 shares of the company’s stock, valued at $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Prologis stock. Brighton Jones LLC boosted its position in shares of Prologis, Inc. (NYSE:PLD) by 629.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 17,475 shares of the real estate investment trust’s stock after acquiring an additional 15,078 shares during the quarter. Brighton Jones LLC’s holdings in Prologis were worth $1,847,000 at the end of the most recent reporting period. Institutional investors own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on PLD shares. Robert W. Baird boosted their target price on shares of Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Mizuho lowered their price target on Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Raymond James reissued a “market perform” rating on shares of Prologis in a report on Monday, February 3rd. Baird R W raised shares of Prologis from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Finally, Scotiabank restated a “sector underperform” rating and set a $97.00 price objective (down previously from $133.00) on shares of Prologis in a report on Monday, April 7th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Prologis presently has an average rating of “Moderate Buy” and an average price target of $126.78.

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.