Zacks Research Comments on Prologis, Inc.’s FY2024 Earnings (NYSE:PLD)

Prologis, Inc. (NYSE:PLD) – Equities research analysts at Zacks Research decreased their FY2024 EPS estimates for Prologis in a research report issued on Wednesday, August 7th. Zacks Research analyst R. Department now expects that the real estate investment trust will earn $5.39 per share for the year, down from their prior estimate of $5.40. The consensus estimate for Prologis’ current full-year earnings is $5.43 per share. Zacks Research also issued estimates for Prologis’ Q4 2024 earnings at $1.40 EPS, Q1 2025 earnings at $1.41 EPS, Q3 2025 earnings at $1.54 EPS, Q4 2025 earnings at $1.57 EPS, FY2025 earnings at $5.98 EPS, Q1 2026 earnings at $1.57 EPS and FY2026 earnings at $6.57 EPS.

PLD has been the subject of several other research reports. JPMorgan Chase & Co. decreased their price target on shares of Prologis from $143.00 to $128.00 and set an “overweight” rating for the company in a report on Thursday, April 25th. StockNews.com upgraded Prologis from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Scotiabank boosted their price objective on Prologis from $130.00 to $135.00 and gave the company a “sector outperform” rating in a research report on Wednesday. Barclays raised their target price on shares of Prologis from $123.00 to $142.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Finally, Argus upped their price target on shares of Prologis from $120.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Six equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $132.60.

Prologis Trading Down 0.1 %

NYSE:PLD traded down $0.09 during trading hours on Thursday, hitting $121.90. The stock had a trading volume of 1,901,869 shares, compared to its average volume of 3,743,113. The business’s 50 day moving average is $116.51 and its 200-day moving average is $119.53. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.29 and a current ratio of 0.36. The company has a market cap of $112.86 billion, a price-to-earnings ratio of 35.64, a P/E/G ratio of 3.02 and a beta of 1.06. Prologis has a one year low of $96.64 and a one year high of $137.52.

Prologis (NYSE:PLD) last issued its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.41). The company had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.86 billion. Prologis had a return on equity of 4.88% and a net margin of 36.37%. Prologis’s quarterly revenue was down 18.1% on a year-over-year basis. During the same quarter last year, the business posted $1.83 EPS.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Valeo Financial Advisors LLC increased its holdings in shares of Prologis by 182,067.2% in the first quarter. Valeo Financial Advisors LLC now owns 48,877,279 shares of the real estate investment trust’s stock valued at $6,364,799,000 after purchasing an additional 48,850,448 shares during the last quarter. Norges Bank acquired a new position in Prologis in the 4th quarter valued at about $1,074,648,000. Capital World Investors raised its holdings in Prologis by 1,252.9% in the 4th quarter. Capital World Investors now owns 7,305,582 shares of the real estate investment trust’s stock valued at $973,834,000 after acquiring an additional 6,765,582 shares during the period. Swedbank AB acquired a new stake in Prologis during the first quarter worth approximately $596,614,000. Finally, Alphinity Investment Management Pty Ltd bought a new stake in shares of Prologis during the first quarter worth approximately $465,659,000. 93.50% of the stock is currently owned by institutional investors.

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.