Prologis Beats EPS but Misses Revenue, Narrows Guidance; Shares Slip
PLD is trading near its 52-week low of $121.17 (2.3% above the low).
Summary
Prologis delivered a mixed quarter: EPS came in above expectations but revenue fell short, and management narrowed its EPS guidance. The company signed roughly 60 million square feet of leases worth about $2.3 billion, a solid leasing print, yet the stock fell on the revenue miss and softer outlook. Shareholders approved the SEGRO deal, following the £14.3 billion all-share agreement formalized in August and the $2.1 billion offering priced at $139.85 to help fund it. Separately, Barclays filed a Form 8.3 transaction notice and institutional holders including BlackRock (10.28 million shares), State Street and T. Rowe Price disclosed positions. BTIG carries a $170 target. The revenue shortfall and guidance cut matter most with the stock near its 52-week low of $121.17.
At the time of this announcement, PLD was trading at $124.01 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $120.3B. The 52-week trading range was $121.17 to $153.35. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Wiseek News.