Prologis (NYSE:PLD) Issues FY 2024 Earnings Guidance

Prologis (NYSE:PLD) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 5.390-5.470 for the period, compared to the consensus EPS estimate of 5.420. The company issued revenue guidance of -. Prologis also updated its FY24 guidance to $5.39-5.47 EPS.

Analyst Upgrades and Downgrades

PLD has been the subject of several recent research reports. Barclays dropped their price target on Prologis from $135.00 to $123.00 and set an overweight rating for the company in a research report on Monday, April 29th. StockNews.com upgraded Prologis from a sell rating to a hold rating in a research report on Thursday. Argus reduced their target price on shares of Prologis from $139.00 to $120.00 and set a buy rating on the stock in a report on Monday, April 22nd. 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. Finally, Scotiabank reduced their price objective on shares of Prologis from $149.00 to $130.00 and set a sector outperform rating on the stock in a research note on Thursday, May 16th. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $128.44.

Prologis Stock Up 0.9 %

Shares of NYSE PLD opened at $123.75 on Friday. The stock has a market capitalization of $114.57 billion, a PE ratio of 36.18, a P/E/G ratio of 2.93 and a beta of 1.06. The company has a quick ratio of 0.29, a current ratio of 0.10 and a debt-to-equity ratio of 0.52. The firm has a fifty day moving average of $111.97 and a 200-day moving average of $120.30. Prologis has a 52-week low of $96.64 and a 52-week high of $137.52.

Prologis (NYSE:PLD) last posted its quarterly 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 firm had revenue of $2.01 billion for 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 was down 18.1% on a year-over-year basis. During the same period last year, the firm posted $1.83 EPS. On average, analysts anticipate that Prologis will post 5.41 EPS for the current year.

Prologis Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 17th were issued a $0.96 dividend. The ex-dividend date of this dividend was Monday, June 17th. This represents a $3.84 annualized dividend and a yield of 3.10%. Prologis’s payout ratio is 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.