Prologis (NYSE:PLD) Issues FY 2024 Earnings Guidance

Prologis (NYSE:PLD) updated its FY 2024 earnings guidance on Wednesday. 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.

Prologis Price Performance

Shares of NYSE:PLD opened at $122.50 on Friday. The company’s fifty day moving average is $125.43 and its two-hundred day moving average is $117.72. The company has a market cap of $113.42 billion, a P/E ratio of 35.82, a price-to-earnings-growth ratio of 3.05 and a beta of 1.07. Prologis has a 12-month low of $96.64 and a 12-month high of $137.52. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.52.

Prologis (NYSE:PLD) last issued its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.91 billion. Prologis had a net margin of 36.37% and a return on equity of 4.88%. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.30 EPS. Equities analysts expect that Prologis will post 5.42 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given 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 of this dividend was Monday, September 16th. Prologis’s dividend payout ratio (DPR) is 112.28%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Scotiabank upped their price objective on shares of Prologis from $135.00 to $142.00 and gave the company a “sector outperform” rating in a research note on Monday, August 26th. Bank of America reaffirmed a “neutral” rating and issued a $128.00 price target on shares of Prologis in a research note on Monday, August 12th. The Goldman Sachs Group lifted their price objective on Prologis from $140.00 to $156.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Barclays dropped their target price on Prologis from $142.00 to $131.00 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. Finally, BMO Capital Markets reiterated a “market perform” rating and set a $115.00 price target on shares of Prologis in a report on Monday, July 15th. Seven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $132.71.

Insider Transactions at Prologis

In related news, CIO Joseph Ghazal sold 5,200 shares of the firm’s stock in a transaction 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 transaction, the executive now directly owns 13,187 shares in the company, valued at approximately $1,702,046.09. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.50% of the stock is owned by corporate insiders.

Prologis Company Profile

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.