Prologis (NYSE:PLD) Releases FY24 Earnings Guidance

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

Prologis Stock Performance

NYSE PLD opened at $122.50 on Friday. The stock has a market capitalization of $113.42 billion, a price-to-earnings ratio of 35.82, a PEG ratio of 3.05 and a beta of 1.07. The stock has a 50-day moving average of $125.43 and a 200 day moving average of $117.72. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.52. Prologis has a twelve month low of $96.64 and a twelve month high of $137.52.

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

Prologis Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a $0.96 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.84 annualized dividend and a dividend yield of 3.13%. Prologis’s dividend payout ratio (DPR) is presently 112.28%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PLD. Argus increased their target price on shares of Prologis from $120.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Bank of America reissued a “neutral” rating and issued a $128.00 target price on shares of Prologis in a research note on Monday, August 12th. StockNews.com upgraded Prologis from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. BMO Capital Markets reiterated a “market perform” rating and set a $115.00 price objective on shares of Prologis in a research report on Monday, July 15th. Finally, Evercore ISI upped their target price on Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Seven investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $132.71.

Insider Buying and Selling at Prologis

In other news, CIO Joseph Ghazal sold 5,200 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $129.07, for a total transaction of $671,164.00. Following the completion of the transaction, the executive now directly owns 13,187 shares of the company’s stock, valued at approximately $1,702,046.09. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.50% of the stock is owned by 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.