Q2 2024 Earnings Forecast for Prologis, Inc. Issued By Zacks Research (NYSE:PLD)

Prologis, Inc. (NYSE:PLD) – Equities researchers at Zacks Research cut their Q2 2024 EPS estimates for shares of Prologis in a research note issued to investors on Wednesday, June 26th. Zacks Research analyst R. Department now forecasts that the real estate investment trust will post earnings of $1.33 per share for the quarter, down from their prior forecast of $1.34. The consensus estimate for Prologis’ current full-year earnings is $5.42 per share. Zacks Research also issued estimates for Prologis’ Q4 2024 earnings at $1.41 EPS, FY2024 earnings at $5.40 EPS and FY2026 earnings at $6.73 EPS.

PLD has been the topic of several other research reports. Scotiabank lowered their price objective on shares of Prologis from $149.00 to $130.00 and set a “sector outperform” rating on the stock in a report on Thursday, May 16th. StockNews.com lowered shares of Prologis from a “hold” rating to a “sell” rating in a research note on Friday, June 21st. Royal Bank of Canada dropped their price objective on shares of Prologis from $145.00 to $124.00 and set an “outperform” rating on the stock in a research note on Monday, May 6th. Robert W. Baird dropped their price objective on shares of Prologis from $137.00 to $117.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. Finally, UBS Group dropped their price objective on shares of Prologis from $151.00 to $138.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $129.76.

Prologis Stock Up 0.9 %

Prologis stock opened at $112.31 on Friday. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.51. Prologis has a 12-month low of $96.64 and a 12-month high of $137.52. The firm’s fifty day moving average is $108.14 and its 200 day moving average is $121.83. The company has a market capitalization of $103.98 billion, a PE ratio of 32.84, a PEG ratio of 2.48 and a beta of 1.07.

Institutional Investors Weigh In On Prologis

Hedge funds have recently bought and sold shares of the stock. Bright Futures Wealth Management LLC. bought a new stake in shares of Prologis in the 1st quarter worth approximately $379,000. Pathway Financial Advisers LLC bought a new stake in shares of Prologis in the 1st quarter worth approximately $49,000. Cetera Advisors LLC lifted its holdings in shares of Prologis by 118.7% in the 1st quarter. Cetera Advisors LLC now owns 37,992 shares of the real estate investment trust’s stock worth $4,947,000 after acquiring an additional 20,623 shares during the last quarter. Cetera Investment Advisers lifted its holdings in shares of Prologis by 107.9% in the 1st quarter. Cetera Investment Advisers now owns 159,311 shares of the real estate investment trust’s stock worth $20,745,000 after acquiring an additional 82,682 shares during the last quarter. Finally, Raelipskie Partnership purchased a new position in shares of Prologis in the first quarter worth $629,000. 93.50% of the stock is currently owned by institutional investors.

Prologis Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 17th were given a dividend of $0.96 per share. The ex-dividend date of this dividend was Monday, June 17th. This represents a $3.84 annualized dividend and a yield of 3.42%. Prologis’s payout ratio is presently 112.28%.

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.