|Bid||102.46 x 1300|
|Ask||102.66 x 1000|
|Day's Range||102.27 - 104.54|
|52 Week Range||59.82 - 109.11|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||46.07|
|Earnings Date||Jan 20, 2021 - Jan 25, 2021|
|Forward Dividend & Yield||2.32 (2.24%)|
|Ex-Dividend Date||Sep 16, 2020|
|1y Target Est||110.44|
Prologis said it expects 2020 EPS in the range of $2.20-$2.24, surpassing the Street consensus of $1.78. The real estate investment trust also forecasts core FFO in the range of $3.76-$3.78 per share for 2020. Analysts' estimates stood at $3.72.In addition, Prologis (PLD) reported 3Q EPS of $0.40 which exceeded analysts’ estimate of $0.32. Revenues of $1.08 billion also came ahead of the consensus estimates of $955.8 million. The company’s core funds from operations (FFO) of $0.90 per share also beat the Street estimates of $0.88.Prologis CEO Hamid R. Moghadam said "Activity in our portfolio is robust and broadening – a reflection of increased demand in the quarter across multiple sectors, the adoption of e-commerce and the need for higher levels of inventory." The company’s CFO Thomas S. Olinger said "Our outlook continues to improve based on results, leasing and lower credit losses." (See PLD stock analysis on TipRanks).Following the results, BMO Capital analyst John Kim said that Prologis delivered stellar results adding that he believes that the stock has more upside potential. He maintained a Buy rating on the stock with a price target of $111 (7.2% upside potential).Currently, the Street has a bullish outlook on the stock. The Strong Buy analyst consensus is based on 10 Buys and 2 Holds. The average price target of $113.64 implies upside potential of about 9.8% to current levels. Shares are up by 16.1% year-to-date.Related News: Procter & Gamble Raises 2021 Outlook As 1Q Sales Surge 9% Philip Morris Slips 6% As 4Q Profit Outlook Misses Estimates Pinnacle’s Profit Beats Estimates; Street Sees 21% Upside More recent articles from Smarter Analyst: * BD’s Covid-19-Flu Combo Test Wins European Clearance * KeyCorp’s Profit Rises As Credit Loss Provisions Drop 20% * Telia Inks 5G Network Deals With Ericsson, Nokia * Iberdrola’s Avangrid In $8.3B Renewable Energy Merger With PNM
PLD earnings call for the period ending September 30, 2020.
The world's leading logistics real estate investment trust (REIT) Prologis Inc. (NYSE: PLD) noted in its third-quarter earnings report that demand is improving across several sectors of the economy. On Tuesday, the San Francisco-based company posted core funds from operations (FFO) of 90 cents per share, 2 cents ahead of the consensus estimate."Activity in our portfolio is robust and broadening — a reflection of increased demand in the quarter across multiple sectors, the adoption of e-commerce and the need for higher levels of inventory," said Prologis Chairman and CEO Hamid R. Moghadam. "We remain focused on addressing customer pain points through our investments in data, labor solutions, technology and innovation."The company saw a 28.4% year-over-year increase in new leases commenced at 48.8 million square feet, with the occupancy rate dipping 90 basis points to 95.6%. Lease retention fell 810 basis points from the second quarter to 72.8%.Prologis raised 2020 guidance for core FFO modestly to $3.76 to $3.78 per share from $3.70 to $3.75. New development starts were increased to a range of $1.6 billion to $2 billion, from the $800 million to $1.2 billion guide provided in the second quarter, a level still under pre-pandemic expectations. Building acquisitions are now expected to range from $700 million to $800 million."Our outlook continues to improve based on results, leasing and lower credit losses. Year-over-year Core FFO growth is sector leading at 13.7% at the midpoint, excluding promotes, while keeping leverage flat," said Prologis CFO Thomas S. Olinger.View more earnings on PLDShares of PLD are up more than 1% in pre-market trading.The company will host a call at noon EDT to discuss these results with analysts. Stay tuned to FreightWaves for continuing coverage of Prologis' earnings results.Prologis' key performance indicatorsClick for more FreightWaves articles by Todd Maiden. * Freight volumes and expenditures advance further during September * J.B. Hunt stock sags on 3Q miss, management doubles down on long approach * Some new drivers will see ,500 bonuses at YRC Freight, New Penn and HollandSee more from Benzinga * Options Trades For This Crazy Market: Get Benzinga Options to Follow High-Conviction Trade Ideas * Real Estate Roundup: Industrial Real Estate Grabs Attention Of Big-time Investors(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.