Prologis (NYSE:PLD) Releases FY 2024 Earnings Guidance

Prologis (NYSE:PLD) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 5.420-5.460 for the period, compared to the consensus earnings per share estimate of 5.410. The company issued revenue guidance of -. Prologis also updated its FY24 guidance to $5.42-5.46 EPS.

Prologis Stock Performance

NYSE PLD opened at $126.97 on Thursday. Prologis has a fifty-two week low of $96.64 and a fifty-two week high of $137.52. The firm has a market capitalization of $117.55 billion, a P/E ratio of 37.13, a price-to-earnings-growth ratio of 3.05 and a beta of 1.07. The stock’s fifty day moving average is $125.40 and its two-hundred day moving average is $117.72. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.36 and a current ratio of 0.36.

Prologis (NYSE:PLD) last posted its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 EPS for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.41). The business had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Prologis had a net margin of 36.37% and a return on equity of 4.88%. Prologis’s revenue for the quarter was down 18.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.83 EPS. On average, research analysts anticipate that Prologis will post 5.42 earnings per share for the current year.

Prologis Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a $0.96 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.84 annualized dividend and a yield of 3.02%. Prologis’s dividend payout ratio (DPR) is presently 112.28%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. The Goldman Sachs Group raised their price target on shares of Prologis from $140.00 to $156.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. StockNews.com upgraded shares of Prologis from a “sell” rating to a “hold” rating in a research note on Thursday, July 18th. Morgan Stanley upped their price target on shares of Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. Wells Fargo & Company lifted their target price on Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a research note on Wednesday, August 28th. Finally, Argus increased their price target on shares of Prologis from $120.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Seven analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Prologis has a consensus rating of “Moderate Buy” and a consensus target price of $132.71.

Insider Transactions at Prologis

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $129.07, for a total transaction of $671,164.00. Following the sale, the executive now owns 13,187 shares in the company, valued at approximately $1,702,046.09. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.50% of the company’s stock.

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.