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

by · The Markets Daily

Prologis (NYSE:PLD – Get Free Report) had its price target decreased by analysts at Mizuho from $119.00 to $117.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the real estate investment trust’s stock. Mizuho’s target price indicates a potential upside of 10.52% from the company’s current price.

Several other brokerages also recently weighed in on PLD. 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. Robert W. Baird upgraded Prologis from a “neutral” rating to an “outperform” rating and reduced their price objective for the stock from $124.00 to $123.00 in a research report on Monday. Evercore ISI raised their target price on Prologis from $124.00 to $128.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Scotiabank cut their target price on Prologis from $136.00 to $134.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, December 4th. Finally, Truist Financial decreased their price target on Prologis from $137.00 to $132.00 and set a “buy” rating for the company in a research note on Thursday, December 5th. One analyst has rated the stock with a sell rating, six have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Prologis currently has a consensus rating of “Moderate Buy” and a consensus price target of $129.06.

Read Our Latest Analysis on Prologis

Prologis Stock Performance

Prologis stock traded down $0.72 during mid-day trading on Wednesday, reaching $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 current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56. Prologis has a twelve month low of $100.82 and a twelve month high of $135.76. The business has a 50 day moving average price of $111.49 and a 200-day moving average price of $118.63. The firm has a market cap of $98.04 billion, a price-to-earnings ratio of 31.98, a PEG ratio of 3.27 and a beta of 1.09.

Prologis (NYSE:PLD – Get Free Report) last posted its quarterly earnings results 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). The business had revenue of $1.90 billion during 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%. The company’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period last year, the firm posted $1.30 earnings per share. Sell-side analysts predict that Prologis will post 5.45 EPS for the current fiscal year.

Hedge Funds Weigh In On Prologis

Several institutional investors and hedge funds have recently bought and sold shares of PLD. Semmax Financial Advisors Inc. purchased a new stake in shares of Prologis in the second quarter worth approximately $27,000. Sunbelt Securities Inc. increased its stake in Prologis by 640.0% in the 2nd quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 224 shares during the period. Wetzel Investment Advisors Inc. purchased a new stake in Prologis in the 2nd quarter worth approximately $31,000. Dunhill Financial LLC lifted its position in Prologis by 239.5% in the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 182 shares in the last quarter. Finally, Hara Capital LLC acquired a new stake in shares of Prologis during the 3rd quarter valued at $48,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Company Profile

(Get Free Report)

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.

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