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Prologis Inc Stock Research

PLD

124.77USD+2.85(+2.34%)Market Closed

Market Summary

USD124.77+2.85
Market Closed
2.34%

PLD Alerts

PLD Stock Price

PLD RSI Chart

PLD Valuation

Market Cap

115.2B

Price/Earnings (Trailing)

32.4

Price/Sales (Trailing)

19.28

EV/EBITDA

23.88

Price/Free Cashflow

27.91

PLD Price/Sales (Trailing)

PLD Profitability

EBT Margin

61.78%

Return on Equity

6.68%

Return on Assets

4.04%

Free Cashflow Yield

3.58%

PLD Fundamentals

PLD Revenue

Revenue (TTM)

6.0B

Revenue Y/Y

37.14%

Revenue Q/Q

0.04%

PLD Earnings

Earnings (TTM)

3.6B

Earnings Y/Y

-52.33%

Earnings Q/Q

-42.01%

Price Action

52 Week Range

98.03173.29
(Low)(High)

Last 7 days

6.6%

Last 30 days

3.0%

Last 90 days

10.7%

Trailing 12 Months

-22.2%

PLD Financial Health

Debt/Equity

0.45

Debt/Cashflow

0.17

PLD Investor Care

Dividend Yield

2.53%

Dividend/Share (TTM)

3.16

Shares Dilution (1Y)

24.78%

Diluted EPS (TTM)

4.35

Peers (Alternatives to Prologis)

View All Peers In Detail
NameMkt Capsorted ascendingRevenuePrice %, 1MReturns, 1YP/EP/SRev 1-YrInc 1-Yr
LARGE-CAP
53.0B
4.2B
2.18% -18.90%
12.18
12.66
22.43% 122.66%
28.6B
4.7B
-1.36% -27.66%
75.78
6.1
5.96% -77.90%
22.7B
2.7B
-1.54% -32.08%
29.23
8.37
11.91% -41.71%
21.4B
2.6B
-12.12% -36.55%
41.11
8.28
22.46% -8.68%
13.2B
1.7B
-4.07% -25.83%
104.43
7.61
26.61% -85.07%
MID-CAP
8.0B
1.1B
-7.32% -17.18%
20.85
7.48
12.95% 47.42%
4.6B
802.0M
-3.51% -5.01%
-362.88
5.72
114.83% 84.36%
2.9B
1.8B
-21.50% -64.10%
-8.51
1.64
13.26% -296.88%
2.3B
859.2M
-11.59% -29.47%
-34.53
2.66
1.38% -563.21%
SMALL-CAP
2.0B
421.4M
4.75% 18.56%
24.12
4.86
3.35% 1705.32%
1.5B
826.7M
-29.95% -68.39%
-19.71
1.86
-2.04% -117.36%
1.1B
190.3M
3.36% 5.05%
12.23
5.92
12.08% 1950.56%
987.5M
740.4M
-12.31% -57.77%
-27.13
1.33
1.87% -78.85%

Financials for Prologis

Income Statement (Last 12 Months)
(In Millions)
* denotes actual numbers (not divided by Millions)
Description(%) Q/Q2022Q42022Q32022Q22022Q12021Q4
Revenue8.6%5,9745,4994,9314,8304,759
  S&GA Expenses3.6%331319299290293
EBITDA-6.9%5,8136,2425,9815,982-
EBITDA Margin-14.3%0.97*1.14*1.21*1.24*-
Earnings Before Taxes-16.0%3,6914,3944,1434,1463,323
EBT Margin-22.7%0.62*0.80*0.84*0.86*-
Interest Expenses23.1%309251251259266
Net Income-16.1%3,5554,2363,9653,9693,149
Net Income Margin-22.7%0.60*0.77*0.77*0.78*-
Free Cahsflow15.8%4,1263,5653,1763,021-
Balance Sheet
(In Millions)
Description(%) Q/Q2022Q42022Q32022Q22022Q12021Q4
Assets44.2%87,89760,94659,76459,78058,486
    Cash Equivalents-56.3%2786364381,913556
  Net PPE-118----
Liabilities40.7%30,03421,33920,89021,31820,744
  Long Term Debt723.3%23,8762,90018,04118,36917,715
Shareholder's Equity50.8%53,23735,29338,87438,46233,427
  Retained Earnings-46.3%-457-312-740-764-1,327
  Additional Paid-In Capital51.8%54,06535,60635,57435,54635,562
Shares Outstanding24.7%923740740740740
Minority Interest7.2%4,6264,3134,2984,2904,315
Cashflow (Last 12 Months)
(In Millions)
* denotes actual numbers (not divided by Millions)
Description(%) Q/Q2022Q42022Q32022Q22022Q12021Q4
Cashflow From Operations15.8%4,1263,5653,1763,0212,996
  Share Based Compensation4.0%175169133120113
Cashflow From Investing-4.5%-4,499-4,304-3,433-1,599-1,990
Cashflow From Financing-86.2%116838136-173-1,008
  Dividend Payments11.8%2,4952,2312,1121,9921,873
  Buy BacksNaN%0.000.00---

Risks for PLD

What is the probability of a big loss on PLD?

37.7%


Probability that Prologis stock will be more than 20% underwater in next one year

35%


Probability that Prologis stock will be more than 30% underwater in next one year.

10%


Probability that Prologis stock will be more than 40% underwater in next one year.
*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does PLD drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Prologis was unfortunately bought at previous high price.

Drawdowns

Returns for PLD

Cumulative Returns on PLD

15.1%


10-Year Cumulative Returns

18.7%


7-Year Cumulative Returns

17.1%


5-Year Cumulative Returns

17.7%


3-Year Cumulative Returns

What are the long-term rolling returns for PLD?

FIve years rolling returns for Prologis.

Annualized Returns

Which funds bought or sold PLD recently?

View All Details
Datesorted ascendingFund NameType% Chg$ Change$ Held% Portfolio
2023-03-27
Neo Ivy Capital Management
sold off
-100
-54,000
-
-%
2023-03-23
MetLife Investment Management, LLC
added
22.67
7,207,610
27,171,200
0.22%
2023-03-23
ETF MANAGERS GROUP, LLC
added
4.71
70,339
503,339
0.02%
2023-03-17
American Portfolios Advisors
added
0.27
-100,795
650,609
0.03%
2023-03-15
B. Riley Wealth Advisors, Inc.
added
5.08
197,558
1,396,560
0.04%
2023-03-10
BAILLIE GIFFORD & CO
added
4.18
4,949,730
36,701,700
0.04%
2023-03-10
MATHER GROUP, LLC.
new
-
697,153
697,153
0.01%
2023-03-10
VICTORY CAPITAL MANAGEMENT INC
added
14.45
18,685,400
87,915,400
0.10%
2023-03-08
Capital Asset Advisory Services LLC
reduced
-33.08
-97,290
327,710
0.03%
2023-03-06
Rockefeller Capital Management L.P.
added
2.88
3,635,000
29,322,000
0.15%

1–10 of 48

Latest Funds Activity

Are funds buying PLD calls or puts?
Calls
Puts
Are funds bullish or bearish(Calls - Puts)?
Net Call Options
No. of funds that own PLD
No. of Funds

Prologis News

MarketWatch

Digital Realty Trust Inc. stock rises Friday, outperforms market.

MarketWatch,
16 hours ago

Nasdaq

Investing.com UK

Seeking Alpha

Marketscreener.com

Schedule 13G FIlings of Prologis

Date FiledName of FilerPercent of ClassNo. of SharesForm Type
Feb 09, 2023
vanguard group inc
13.20%
121,813,945
SC 13G/A
Feb 07, 2023
state street corp
6.71%
61,924,614
SC 13G/A
Jan 24, 2023
blackrock inc.
9.8%
90,770,245
SC 13G/A
Feb 11, 2022
state street corp
6.36%
47,020,804
SC 13G/A
Jan 27, 2022
blackrock inc.
10.4%
77,044,162
SC 13G/A
Jan 26, 2022
blackrock inc.
10.4%
77,044,162
SC 13G/A
Feb 10, 2021
state street corp
5.66%
41,816,183
SC 13G
Feb 10, 2021
vanguard group inc
12.60%
93,088,245
SC 13G/A
Jan 27, 2021
blackrock inc.
10.3%
76,214,355
SC 13G/A
May 08, 2020
blackrock inc.
10.1%
74,253,169
SC 13G/A

PLD Fair Value

Prologis fair value in different scenarios

The table shows the Fair Value estimates for Prologis for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.
Fair ValueVery PessimisticPessimisticBase CaseOptimisticVery Optimistic
Very Low Inflation

93.37

-25.17%

119.16

-4.50%

169.25

35.65%

229.87

84.23%

295.84

137.11%
Current Inflation

86.07

-31.02%

107.98

-13.46%

149.84

20.09%

200.46

60.66%

255.35

104.66%
Very High Inflation

77.16

-38.16%

94.60

-24.18%

127.21

1.96%

166.66

33.57%

209.24

67.70%

Historical Prologis Fair Value Estimates


Very Pessimistic Case
Pessimistic Case
Fair Value
Optimistic Case
Very Optimistic Case
Closing Stock Price

Recent SEC filings of Prologis

View All Filings
Date Filed Form Type Document
Mar 31, 2023
4
Insider Trading
Mar 30, 2023
8-K
Current Report
Mar 24, 2023
ARS
ARS
Mar 24, 2023
DEF 14A
DEF 14A
Mar 24, 2023
DEFA14A
DEFA14A
Feb 14, 2023
10-K
Annual Report
Feb 09, 2023
SC 13G/A
Major Ownership Report
Feb 07, 2023
SC 13G/A
Major Ownership Report
Jan 31, 2023
8-K
Current Report
Jan 26, 2023
4
Insider Trading

Latest Insider Trading transactions for PLD

Filter Transactions
Datesorted ascendingNameBuy/Sell$ ValueAvg. Price# SharesTitle
2022-11-28
OCONNOR DAVID P
bought
1,027,170
114
9,000
-
2022-11-17
Connor James B.
gifted
-
-
-2,654
-
2022-10-05
Connor James B.
gifted
-
-
124
-
2022-10-03
Anderson Gary E
acquired
-
-
21.00
chief operating officer
2022-10-03
Connor James B.
acquired
-
-
7,140
-
2022-10-03
Modjtabai Avid
acquired
-
-
21.00
-
2022-10-03
NEKRITZ EDWARD S
acquired
-
-
150
chief legal off./gen. counsel
2022-10-03
Arndt Timothy D
acquired
-
-
7.00
chief financial officer
2022-10-03
Connor James B.
acquired
-
-
4,110
-
2022-10-03
Connor James B.
acquired
-
-
70,756
-

1–10 of 50

Hamid R. Moghadam
2050
Prologis, Inc. is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of December 31, 2020, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 984 million square feet (91 million square meters) in 19 countries. Prologis leases modern logistics facilities to a diverse base of approximately 5,500 customers principally across two major categories: business-to-business and retail/online fulfillment.

PLD Income Statement

2022-12-31
Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Revenues:   
Rental$ 4,913,171$ 4,147,994$ 3,791,131
Strategic capital1,039,585590,750636,987
Development management and other20,93620,69610,617
Total revenues5,973,6924,759,4404,438,735
Expenses:   
Rental1,205,7381,041,316952,063
Strategic capital303,356207,171218,041
General and administrative331,083293,167274,845
Depreciation and amortization1,812,7771,577,9421,561,969
Other40,33622,43530,010
Total expenses3,693,2903,142,0313,036,928
Operating income before gains on real estate transactions, net2,280,4021,617,4091,401,807
Gains on dispositions of development properties and land, net597,745817,017464,942
Gains on other dispositions of investments in real estate, net[1]589,391772,570252,195
Operating income3,467,5383,206,9962,118,944
Other income (expense):   
Earnings from unconsolidated entities, net310,872404,255297,370
Interest expense(309,037)(266,228)(314,507)
Foreign currency and derivative gains (losses) and other income (expense), net241,621165,278(166,429)
Losses on early extinguishment of debt, net(20,184)(187,453)(188,290)
Total other income (expense)223,272115,852(371,856)
Earnings before income taxes3,690,8103,322,8481,747,088
Total income tax expense(135,412)(174,258)(130,458)
Consolidated net earnings3,555,3983,148,5901,616,630
Less net earnings attributable to noncontrolling interests190,542208,867134,816
Net earnings attributable to controlling interests3,364,8562,939,7231,481,814
Less preferred stock/unit dividends/distributions6,0606,1526,345
Loss on preferred stock/unit repurchase002,347
Net earnings attributable to common stockholders/unitholders$ 3,358,796$ 2,933,571$ 1,473,122
Weighted average common shares/units outstanding - Basic785,675739,363728,323
Weighted average common shares/units outstanding - Diluted[2]811,608764,762754,414
Net earnings per share/unit attributable to common stockholders/unitholders - Basic$ 4.28$ 3.97$ 2.02
Net earnings per share/unit attributable to common stockholders/unitholders - Diluted$ 4.25$ 3.94$ 2.01
Prologis, L.P. [Member]   
Revenues:   
Rental$ 4,913,171$ 4,147,994$ 3,791,131
Strategic capital1,039,585590,750636,987
Development management and other20,93620,69610,617
Total revenues5,973,6924,759,4404,438,735
Expenses:   
Rental1,205,7381,041,316952,063
Strategic capital303,356207,171218,041
General and administrative331,083293,167274,845
Depreciation and amortization1,812,7771,577,9421,561,969
Other40,33622,43530,010
Total expenses3,693,2903,142,0313,036,928
Operating income before gains on real estate transactions, net2,280,4021,617,4091,401,807
Gains on dispositions of development properties and land, net597,745817,017464,942
Gains on other dispositions of investments in real estate, net589,391772,570252,195
Operating income3,467,5383,206,9962,118,944
Other income (expense):   
Earnings from unconsolidated entities, net310,872404,255297,370
Interest expense(309,037)(266,228)(314,507)
Foreign currency and derivative gains (losses) and other income (expense), net241,621165,278(166,429)
Losses on early extinguishment of debt, net(20,184)(187,453)(188,290)
Total other income (expense)223,272115,852(371,856)
Earnings before income taxes3,690,8103,322,8481,747,088
Total income tax expense(135,412)(174,258)(130,458)
Consolidated net earnings3,555,3983,148,5901,616,630
Less net earnings attributable to noncontrolling interests98,611127,07593,195
Net earnings attributable to controlling interests3,456,7873,021,5151,523,435
Less preferred stock/unit dividends/distributions6,0606,1526,345
Loss on preferred stock/unit repurchase002,347
Net earnings attributable to common stockholders/unitholders$ 3,450,727$ 3,015,363$ 1,514,743
Weighted average common shares/units outstanding - Basic799,153751,973740,860
Weighted average common shares/units outstanding - Diluted[2]811,608764,762754,414
Net earnings per share/unit attributable to common stockholders/unitholders - Basic$ 4.28$ 3.97$ 2.02
Net earnings per share/unit attributable to common stockholders/unitholders - Diluted$ 4.25$ 3.94$ 2.01
[1]

In 2021, we sold our ownership interest in an unconsolidated other venture.

[2]Our total weighted average potentially dilutive shares and units outstanding for the years ended December 31 consisted of the following

PLD Balance Sheet

2022-12-31
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
ASSETS  
Investments in real estate properties$ 81,623,396$ 53,005,190
Less accumulated depreciation9,036,0857,668,187
Net investments in real estate properties72,587,31145,337,003
Investments in and advances to unconsolidated entities9,698,8988,610,958
Assets held for sale or contribution531,257669,688
Net investments in real estate82,817,46654,617,649
Cash and cash equivalents278,483556,117
Other assets4,801,4993,312,454
Total assets87,897,44858,486,220
Liabilities:  
Debt23,875,96117,715,054
Accounts payable and accrued expenses1,711,8851,252,767
Other liabilities4,446,5091,776,189
Total liabilities30,034,35520,744,010
Prologis, Inc. stockholders’ equity:  
Series Q preferred stock at stated liquidation preference of $50 per share; $0.01 par value; 1,279 shares issued and outstanding and 100,000 preferred shares authorized at December 31, 2022 and 202163,94863,948
Common stock; $0.01 par value; 923,142 and 739,827 shares issued and outstanding at December 31, 2022 and 2021, respectively9,2317,398
Additional paid-in capital54,065,40735,561,608
Accumulated other comprehensive loss(443,609)(878,253)
Distributions in excess of net earnings(457,695)(1,327,828)
Total Prologis, Inc. stockholders’ equity53,237,28233,426,873
Noncontrolling interests4,625,8114,315,337
Total equity57,863,09337,742,210
Total liabilities and equity87,897,44858,486,220
Partners’ capital:  
Noncontrolling interests4,625,8114,315,337
Total equity57,863,09337,742,210
Prologis, L.P. [Member]  
ASSETS  
Investments in real estate properties81,623,39653,005,190
Less accumulated depreciation9,036,0857,668,187
Net investments in real estate properties72,587,31145,337,003
Investments in and advances to unconsolidated entities9,698,8988,610,958
Assets held for sale or contribution531,257669,688
Net investments in real estate82,817,46654,617,649
Cash and cash equivalents278,483556,117
Other assets4,801,4993,312,454
Total assets87,897,44858,486,220
Liabilities:  
Debt23,875,96117,715,054
Accounts payable and accrued expenses1,711,8851,252,767
Other liabilities4,446,5091,776,189
Total liabilities30,034,35520,744,010
Prologis, Inc. stockholders’ equity:  
Noncontrolling interests3,317,7673,397,538
Partners’ capital:  
Total partners’ capital54,545,32634,344,672
Noncontrolling interests3,317,7673,397,538
Total capital57,863,09337,742,210
Total liabilities and equity87,897,44858,486,220
Prologis, L.P. [Member] | Preferred [Member]  
Partners’ capital:  
General partner63,94863,948
Prologis, L.P. [Member] | Common [Member]  
Partners’ capital:  
General partner53,173,33433,362,925
Limited partners843,263557,097
Prologis, L.P. [Member] | Class A Common [Member]  
Partners’ capital:  
Limited partners$ 464,781$ 360,702