Mizuho Has Lowered Expectations for Prologis (NYSE:PLD) Stock Price

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

A number of other analysts have also weighed in on PLD. Scotiabank cut their price objective on Prologis from $136.00 to $134.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, December 4th. Robert W. Baird upgraded Prologis from a “neutral” rating to an “outperform” rating and decreased their price objective for the company from $124.00 to $123.00 in a research note on Monday. Barclays upped their target price on shares of Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. JPMorgan Chase & Co. lowered their price target on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a report on Monday, October 21st. Finally, Baird R W upgraded shares of Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $129.06.

Prologis Trading Down 1.0 %

Shares of Prologis stock opened at $105.53 on Wednesday. The stock has a 50 day moving average of $111.28 and a 200 day moving average of $118.53. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43. The firm has a market capitalization of $97.74 billion, a price-to-earnings ratio of 31.88, a PEG ratio of 3.27 and a beta of 1.09. Prologis has a fifty-two week low of $100.82 and a fifty-two week high of $135.76.

Prologis (NYSE:PLD) last issued its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $1.91 billion. During the same quarter in the prior year, the company posted $1.30 earnings per share. The business’s revenue was up 6.9% compared to the same quarter last year. As a group, research analysts predict 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 given a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 3.64%. The ex-dividend date was Monday, December 16th. Prologis’s dividend payout ratio (DPR) is presently 116.01%.

Institutional Trading of Prologis

Several large investors have recently modified their holdings of PLD. Sunflower Bank N.A. acquired a new stake in Prologis during the 3rd quarter valued at approximately $249,000. Coronation Fund Managers Ltd. bought a new stake in shares of Prologis in the second quarter worth $878,000. DekaBank Deutsche Girozentrale boosted its stake in Prologis by 2.5% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 1,199,812 shares of the real estate investment trust’s stock valued at $149,116,000 after acquiring an additional 29,400 shares during the last quarter. Cardano Risk Management B.V. bought a new stake in shares of Prologis in the 3rd quarter worth about $109,579,000. Finally, Worldquant Millennium Advisors LLC acquired a new stake in shares of Prologis in the 3rd quarter valued at 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.