Prologis logged a -1.2% change during today's afternoon session, and is now trading at a price of $122.28 per share.
Over the last year, Prologis logged a -5.0% change, with its stock price reaching a high of $138.86 and a low of $98.03. Over the same period, the stock underperformed the S&P 500 index by -15.0%. As of April 2023, the company's 50-day average price was $123.44. Prologis, Inc. is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. Based in San Francisco, CA, the large-cap Real Estate company has 2,466 full time employees. Prologis has offered a 2.7% dividend yield over the last 12 months.
Growing Revenues With a Flat Capital Expenditure Trend:
|Net Income (MM)||$1,573||$1,482||$2,940||$3,365|
|Net Interest Expense (MM)||-$240||-$315||-$266||-$309|
|Depreciation & Amort. (MM)||-$1,140||-$1,562||-$1,578||-$1,813|
|Earnings Per Share||$2.39||$1.95||$3.84||$3.2|
|Diluted Shares (MM)||655||754||765||923|
|Free Cash Flow (MM)||$5,208||$4,326||$5,486||$6,830|
|Capital Expenditures (MM)||-$2,944||-$1,389||-$2,490||-$2,703|
|Net Current Assets (MM)||-$12,151||-$18,072||-$19,518||-$29,225|
|Long Term Debt (MM)||$11,906||$16,849||$17,715||$23,876|
Prologis benefits from growing revenues and a flat capital expenditure trend, strong margins with a positive growth rate, and a steady stream of strong cash flows. The company's financial statements show healthy debt levels and positive EPS growth.
Prologis's Valuation Is in Line With Its Sector Averages:
Prologis has a trailing twelve month P/E ratio of 38.6, compared to an average of 24.81 for the Real Estate sector. Based on its EPS guidance of $3.12, the company has a forward P/E ratio of 39.6. The 5.5% compound average growth rate of Prologis's historical and projected earnings per share yields a PEG ratio of 7.05. This suggests that these shares are overvalued. In contrast, the market is likely undervaluing Prologis in terms of its equity because its P/B ratio is 2.12 while the sector average is 2.24. The company's shares are currently trading 101.2% above their Graham number. In conclusion, Prologis's impressive cash flow trend, decent P/B ratio, and reasonable use of leverage demonstrate that the company may still be fairly valued — despite its elevated earnings multiple.
Prologis Has an Average Rating of Buy:
The 21 analysts following Prologis have set target prices ranging from $128.0 to $162.0 per share, for an average of $142.57 with a buy rating. As of April 2023, the company is trading -13.4% away from its average target price, indicating that there is an analyst consensus of some upside potential.
Prologis has a very low short interest because 1.2% of the company's shares are sold short. Institutions own 95.5% of the company's shares, and the insider ownership rate stands at 0.32%, suggesting a small amount of insider investors. The largest shareholder is Vanguard Group Inc, whose 13% stake in the company is worth $14,960,277,729.