Prologis Inc. (NYSE: PLD) stock fell -2.15% on Friday to $108.55 against a previous-day closing price of $110.93. With 4.61 million shares changed hands, the volume of the stock remained heavier than its average volume of 3.06 million shares. During the session, the REIT – Industrial company that operates in wider Real Estate sector, reached to the highest price of $112.13 whereas the lowest price it dropped to was $108.51. The 52-week range on PLD shows that it touched its highest point at $174.54 and its lowest point at $106.46 during that stretch. It currently has a 1-year price target of $161.43. With its current market cap of 82.17 billion, PLD has annualized dividend of $3.16 while the current yield stands at 2.91%. Beta for the stock currently stands at 0.91.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of PLD was down-trending over the past week, with a drop of -10.35%, but this was down by -17.10% over a month. Three-month performance dropped to -5.98% while six-month performance fell -31.59%. The stock lost -15.75% in the past year, while it has lost -35.53% so far this year. A look at the trailing 12-month EPS for PLD yields 5.01 with Next year EPS estimates of 3.35. For the next quarter, that number is 1.27. This implies an EPS growth rate of 96.40% for this year and -9.10% for next year. EPS is expected to decline by -6.05% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 11.70%.
Float and Shares Shorts:
At present, 740.64 million PLD shares are outstanding with a float of 737.63 million shares on hand for trading. On Jul 14, 2022, short shares totaled 15.88 million, which was 2.14% higher than short shares on Jun 14, 2022. In addition to Mr. Hamid R. Moghadam as the firm’s Co-Founder, Chairman & CEO, Mr. Gary E. Anderson serves as its Chief Operating Officer.
Through their ownership of 97.05% of PLD’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 57.30% of PLD, in contrast to 42.08% held by mutual funds. Shares owned by individuals account for 0.56%. As the largest shareholder in PLD with 12.64% of the stake, The Vanguard Group, Inc. holds 93,615,512 shares worth 93,615,512. A second-largest stockholder of PLD, SSgA Funds Management, Inc., holds 51,091,346 shares, controlling over 6.90% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in PLD, holding 46,476,488 shares or 6.28% stake. With a 4.59% stake in PLD, the Vanguard Real Estate Index Fund is the largest stakeholder. A total of 33,943,300 shares are owned by the mutual fund manager. The Stichting Pensioenfonds ABP, which owns about 3.00% of PLD stock, is the second-largest Mutual Fund holder. It holds 22,215,792 shares valued at 2.77 billion. Vanguard Total Stock Market Index holds 2.96% of the stake in PLD, owning 21,899,144 shares worth 2.73 billion.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for PLD since 16 analysts follow the stock currently. There are 11 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 4 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With PLD analysts setting a high price target of $200.00 and a low target of $133.00, the average target price over the next 12 months is $159.00. Based on these targets, PLD could surge 84.25% to reach the target high and rise by 22.52% to reach the target low. Reaching the average price target will result in a growth of 46.48% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. PLD will report FY 2022 earnings on 01/24/2023. Analysts have provided yearly estimates in a range of $4.96 being high and $3.90 being low. For PLD, this leads to a yearly average estimate of $4.32. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Prologis Inc. surprised analysts by $0.17 when it reported $0.82 EPS against a consensus estimate of $0.65. The surprise factor in the prior quarter was $0.86. Based on analyst estimates, the high estimate for the next quarter is $1.60 and the low estimate is $1.18. The average estimate for the next quarter is thus $1.38.
Summary of Insider Activity:
Insiders traded PLD stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 8 while that of sell transactions has risen to 9 over the past year. The total number of shares bought during that period was 31,042 while 374,048 shares were sold.