Prologis Inc Declares Quarterly Dividend of $0.44 (PLD)

Prologis Inc (NYSE:PLD) announced a quarterly dividend on Thursday, December 7th, RTT News reports. Investors of record on Monday, December 18th will be given a dividend of 0.44 per share by the real estate investment trust on Friday, December 29th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.67%.

Prologis has increased its dividend by an average of 14.5% annually over the last three years and has increased its dividend every year for the last 3 years. Prologis has a dividend payout ratio of 62.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Prologis to earn $2.90 per share next year, which means the company should continue to be able to cover its $1.76 annual dividend with an expected future payout ratio of 60.7%.

Prologis (PLD) traded up $1.10 during trading on Thursday, hitting $65.82. The company had a trading volume of 1,808,148 shares, compared to its average volume of 2,398,917. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.80 and a quick ratio of 0.80. Prologis has a 12-month low of $48.33 and a 12-month high of $67.53. The firm has a market capitalization of $34,530.00, a P/E ratio of 23.26, a price-to-earnings-growth ratio of 4.24 and a beta of 0.91.

Prologis (NYSE:PLD) last released its earnings results on Tuesday, October 17th. The real estate investment trust reported $0.67 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.67. Prologis had a return on equity of 9.93% and a net margin of 68.50%. The firm had revenue of $531.18 million during the quarter, compared to the consensus estimate of $573.68 million. During the same quarter in the previous year, the company posted $0.14 earnings per share. The company’s revenue was down 5.2% compared to the same quarter last year. analysts expect that Prologis will post 2.8 EPS for the current fiscal year.

PLD has been the subject of a number of research reports. BidaskClub raised Prologis from a “buy” rating to a “strong-buy” rating in a report on Friday, August 18th. Jefferies Group reaffirmed a “hold” rating and set a $66.00 target price (up previously from $59.00) on shares of Prologis in a report on Thursday, August 24th. KeyCorp reissued a “buy” rating and issued a $65.00 price target on shares of Prologis in a report on Sunday, August 27th. SunTrust Banks raised Prologis from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a report on Tuesday, September 5th. Finally, BMO Capital Markets initiated coverage on Prologis in a report on Monday, September 11th. They issued an “outperform” rating and a $69.00 price target for the company. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Prologis currently has an average rating of “Buy” and a consensus price target of $66.31.

In related news, CEO Eugene F. Reilly sold 18,000 shares of Prologis stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $66.55, for a total transaction of $1,197,900.00. Following the completion of the transaction, the chief executive officer now directly owns 63,365 shares of the company’s stock, valued at $4,216,940.75. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Eugene F. Reilly sold 15,000 shares of Prologis stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $66.61, for a total value of $999,150.00. Following the transaction, the chief executive officer now directly owns 63,365 shares of the company’s stock, valued at $4,220,742.65. The disclosure for this sale can be found here. Company insiders own 1.31% of the company’s stock.

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About Prologis

Prologis, Inc is a real estate investment trust (REIT) company. The Company is engaged in logistics real estate business. The Company’s segments include Real Estate Operations and Strategic Capital. The Real estate operations segment consists of rental operations and development. The Company’s strategic capital segment includes asset management services, as well as services performed for unconsolidated co-investment ventures.

Dividend History for Prologis (NYSE:PLD)

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