Prologis logged a 1.3% change during today's afternoon session, and is now trading at a price of $113.0 per share.
Prologis returned losses of -8.7% last year, with its stock price reaching a high of $137.52 and a low of $96.64. Over the same period, the stock underperformed the S&P 500 index by -31.7%. AThe company's 50-day average price was $110.36. 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 2,574 full time employees. Prologis has offered a 3.2% dividend yield over the last 12 months.
Generally Positive Cash Flows but a Highly Leveraged Balance Sheet:
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|
| Revenue (M) | $2,804 | $3,331 | $4,439 | $4,759 | $5,974 | $8,023 |
| Operating Margins | 60% | 56% | 48% | 67% | 57% | 46% |
| Net Margins | 59% | 47% | 33% | 62% | 56% | 38% |
| Net Income (M) | $1,649 | $1,573 | $1,482 | $2,940 | $3,365 | $3,059 |
| Net Interest Expense (M) | $229 | $240 | $315 | $266 | $309 | $641 |
| Depreciation & Amort. (M) | $947 | $1,140 | $1,562 | $1,578 | $1,813 | $2,485 |
| Diluted Shares (M) | 590 | 655 | 754 | 765 | 812 | 952 |
| Earnings Per Share | $2.87 | $2.46 | $2.01 | $3.94 | $4.25 | $3.29 |
| EPS Growth | n/a | -14.29% | -18.29% | 96.02% | 7.87% | -22.59% |
| Avg. Price | $56.55 | $71.65 | $87.89 | $118.74 | $139.37 | $114.33 |
| P/E Ratio | 19.5 | 28.89 | 43.51 | 29.91 | 32.56 | 34.65 |
| Free Cash Flow (M) | $1,710 | $469 | $1,017 | $356 | $1,008 | $5,373 |
| CAPEX (M) | $93 | $1,795 | $1,920 | $2,640 | $3,118 | n/a |
| EV / EBITDA | 15.52 | 18.73 | 22.05 | 18.28 | 24.0 | 21.65 |
| Total Debt (M) | $11,090 | $11,906 | $16,849 | $215 | $23,876 | $29,001 |
| Net Debt / EBITDA | 4.08 | 3.62 | 4.41 | -0.07 | 4.47 | 4.6 |
Prologis's Valuation Is in Line With Its Sector Averages:
Prologis has a trailing twelve month P/E ratio of 32.3, compared to an average of 27.5 for the Real Estate sector. Based on its EPS guidance of $2.89, the company has a forward P/E ratio of 38.2. The 0.1% compound average growth rate of Prologis's historical and projected earnings per share yields a PEG ratio of 325.1. 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 1.97 while the sector average is 2.1. The company's shares are currently trading 75.7% below their Graham number.
There's an Analyst Consensus of Some Upside Potential for Prologis:
The 19 analysts following Prologis have set target prices ranging from $112.0 to $154.0 per share, for an average of $131.68 with a buy rating. The company is trading -14.2% 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 1.4% of the company's shares are sold short. Institutions own 95.9% of the company's shares, and the insider ownership rate stands at 0.31%, suggesting a small amount of insider investors. The largest shareholder is Vanguard Group Inc, whose 13% stake in the company is worth $13,666,828,392.
