Prologis (NYSE:PLD) Price Target Cut to $117.00 by Analysts at Mizuho

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

PLD has been the subject of several other reports. JPMorgan Chase & Co. decreased their target price on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. Robert W. Baird upgraded Prologis from a “neutral” rating to an “outperform” rating and decreased their price target for the stock from $124.00 to $123.00 in a report on Monday. Truist Financial dropped their price objective on Prologis from $137.00 to $132.00 and set a “buy” rating on the stock in a research note on Thursday, December 5th. Baird R W upgraded shares of Prologis from a “hold” rating to a “strong-buy” rating in a report on Monday. Finally, Barclays upped their price objective on shares of Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $129.06.

Prologis Trading Down 1.0 %

PLD opened at $105.53 on Wednesday. The stock has a market cap of $97.74 billion, a PE ratio of 31.88, a price-to-earnings-growth ratio of 3.27 and a beta of 1.09. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.56. The company has a fifty day moving average of $111.28 and a 200-day moving average of $118.53. Prologis has a twelve month low of $100.82 and a twelve month high of $135.76.

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

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date of this dividend was Monday, December 16th. Prologis’s dividend payout ratio (DPR) is presently 116.01%.

Institutional Investors Weigh In On Prologis

Several large investors have recently bought and sold shares of PLD. Sunflower Bank N.A. purchased a new stake in shares of Prologis during the third quarter worth approximately $249,000. Coronation Fund Managers Ltd. purchased a new stake in shares of Prologis during the second quarter worth $878,000. DekaBank Deutsche Girozentrale raised 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 buying an additional 29,400 shares during the last quarter. Cardano Risk Management B.V. acquired a new position in Prologis during the third quarter worth about $109,579,000. Finally, Worldquant Millennium Advisors LLC purchased a new stake in Prologis during the 3rd quarter valued at about $1,051,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

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.