Mizuho Cuts Prologis (NYSE:PLD) Price Target to $117.00

Prologis (NYSE:PLD) had its target price trimmed by Mizuho from $119.00 to $117.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has a neutral rating on the real estate investment trust’s stock.

Other analysts have also recently issued research reports about the stock. Robert W. Baird raised shares of Prologis from a “neutral” rating to an “outperform” rating and lowered their target price for the company from $124.00 to $123.00 in a research note on Monday, January 6th. Baird R W raised Prologis from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. BMO Capital Markets downgraded Prologis from a “market perform” rating to an “underperform” rating and cut their target price for the stock from $120.00 to $104.00 in a research report on Friday, December 6th. Barclays upped their price target on Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $132.00 price objective (down from $142.00) on shares of Prologis in a report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $129.06.

Prologis Stock Down 1.8 %

Shares of PLD opened at $103.65 on Wednesday. Prologis has a 52 week low of $100.82 and a 52 week high of $135.76. The firm has a market capitalization of $96.00 billion, a P/E ratio of 31.31, a P/E/G ratio of 3.27 and a beta of 1.09. The company has a 50-day simple moving average of $110.94 and a 200-day simple moving average of $118.39. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43.

Prologis (NYSE:PLD) last announced its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.29). The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. Prologis had a return on equity of 5.34% and a net margin of 39.08%. Prologis’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.30 EPS. On average, equities research analysts expect that Prologis will post 5.45 earnings per share for the current year.

Prologis Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were issued a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.70%. The ex-dividend date of this dividend was Monday, December 16th. Prologis’s dividend payout ratio is currently 116.01%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PLD. Sunflower Bank N.A. acquired a new stake in shares of Prologis in the 3rd quarter valued at $249,000. Coronation Fund Managers Ltd. bought a new position in Prologis in the second quarter valued at about $878,000. DekaBank Deutsche Girozentrale increased its position in Prologis by 2.5% in the third quarter. DekaBank Deutsche Girozentrale now owns 1,199,812 shares of the real estate investment trust’s stock worth $149,116,000 after purchasing an additional 29,400 shares during the period. Cardano Risk Management B.V. bought a new stake in Prologis during the 3rd quarter worth about $109,579,000. Finally, Worldquant Millennium Advisors LLC acquired a new position in Prologis during the 3rd quarter valued at about $1,051,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Company Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At March 31, 2024, 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 1.2 billion square feet (115 million square meters) in 19 countries.