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

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

Other equities research analysts also recently issued research reports about the stock. Baird R W upgraded shares of Prologis from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Truist Financial decreased their target price on Prologis from $137.00 to $132.00 and set a “buy” rating for the company in a research report on Thursday, December 5th. JPMorgan Chase & Co. dropped their price target on Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a research report on Monday, October 21st. Scotiabank reduced their price objective on Prologis from $136.00 to $134.00 and set a “sector outperform” rating for the company in a research note on Wednesday, December 4th. Finally, Raymond James reiterated an “outperform” rating and issued a $125.00 target price (down previously from $130.00) on shares of Prologis in a report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, six have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Prologis presently has a consensus rating of “Moderate Buy” and an average target price of $129.06.

Prologis Stock Down 1.8 %

PLD stock opened at $103.65 on Wednesday. The firm has a market cap of $96.00 billion, a PE ratio of 31.31, a P/E/G ratio of 3.27 and a beta of 1.09. Prologis has a 12 month low of $100.82 and a 12 month high of $135.76. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43. The firm has a 50 day simple moving average of $110.94 and a 200 day simple moving average of $118.39.

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

Prologis Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were paid a dividend of $0.96 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $3.84 annualized dividend and a dividend yield of 3.70%. Prologis’s dividend payout ratio (DPR) is presently 116.01%.

Institutional Investors Weigh In On Prologis

Several institutional investors and hedge funds have recently added to or reduced their stakes in PLD. Sunflower Bank N.A. acquired a new stake in shares of Prologis in the third quarter worth $249,000. Coronation Fund Managers Ltd. bought a new stake in Prologis during the second quarter valued at about $878,000. DekaBank Deutsche Girozentrale grew its position in shares of 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 valued at $149,116,000 after purchasing an additional 29,400 shares during the last quarter. Cardano Risk Management B.V. bought a new position in shares of Prologis in the third quarter worth about $109,579,000. Finally, Worldquant Millennium Advisors LLC acquired a new position in shares of Prologis during the 3rd quarter worth about $1,051,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

About Prologis

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.