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

Prologis (NYSE:PLD) had its price objective reduced by Mizuho from $119.00 to $117.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the real estate investment trust’s stock. Mizuho’s target price would indicate a potential upside of 10.52% from the company’s current price.

Several other analysts also recently weighed in on PLD. Barclays boosted 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. The Goldman Sachs Group reiterated a “neutral” rating and issued a $132.00 price objective (down from $142.00) on shares of Prologis in a research report on Monday, October 21st. BMO Capital Markets cut Prologis from a “market perform” rating to an “underperform” rating and dropped their target price for the stock from $120.00 to $104.00 in a research report on Friday, December 6th. Robert W. Baird upgraded Prologis from a “neutral” rating to an “outperform” rating and decreased their price target for the company from $124.00 to $123.00 in a research note on Monday. Finally, Raymond James reiterated an “outperform” rating and issued a $125.00 price objective (down previously from $130.00) on shares of Prologis in a research report on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $129.06.

Prologis Stock Down 0.7 %

Shares of NYSE PLD traded down $0.72 during midday trading on Wednesday, hitting $105.86. The company’s stock had a trading volume of 492,621 shares, compared to its average volume of 3,508,912. 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 market capitalization of $98.04 billion, a price-to-earnings ratio of 31.98, a price-to-earnings-growth ratio of 3.27 and a beta of 1.09. The business’s fifty day simple moving average is $111.49 and its two-hundred day simple moving average is $118.63. Prologis has a 1 year low of $100.82 and a 1 year high of $135.76.

Prologis (NYSE:PLD) last posted its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share 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 analysts’ expectations of $1.91 billion. During the same period in the prior year, the company posted $1.30 EPS. The firm’s revenue was up 6.9% compared to the same quarter last year. On average, equities analysts predict that Prologis will post 5.45 EPS for the current year.

Institutional Trading of Prologis

Several institutional investors have recently made changes to their positions in PLD. ASB Consultores LLC grew its holdings in Prologis by 3.7% during the 3rd quarter. ASB Consultores LLC now owns 2,423 shares of the real estate investment trust’s stock valued at $306,000 after purchasing an additional 86 shares in the last quarter. CX Institutional increased its holdings in Prologis by 2.7% during the 3rd quarter. CX Institutional now owns 3,347 shares of the real estate investment trust’s stock worth $423,000 after purchasing an additional 88 shares during the last quarter. Mitchell Sinkler & Starr PA raised its position in shares of Prologis by 5.1% in the 2nd quarter. Mitchell Sinkler & Starr PA now owns 1,860 shares of the real estate investment trust’s stock valued at $228,000 after purchasing an additional 90 shares in the last quarter. DT Investment Partners LLC boosted its stake in shares of Prologis by 9.8% during the 3rd quarter. DT Investment Partners LLC now owns 1,043 shares of the real estate investment trust’s stock valued at $132,000 after buying an additional 93 shares during the last quarter. Finally, Carmel Capital Partners LLC grew its position in shares of Prologis by 2.6% during the third quarter. Carmel Capital Partners LLC now owns 3,749 shares of the real estate investment trust’s stock worth $473,000 after buying an additional 94 shares in the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

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.