Mizuho Forecasts Strong Price Appreciation for Prologis (NYSE:PLD) Stock

by · The Markets Daily

Prologis (NYSE:PLD – Get Free Report) had its target price increased by Mizuho from $118.00 to $138.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the real estate investment trust’s stock. Mizuho’s price target points to a potential upside of 6.92% from the company’s current price.

A number of other equities analysts have also issued reports on the company. Scotiabank raised their price target on Prologis from $127.00 to $133.00 and gave the stock a “sector perform” rating in a report on Monday, November 10th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Prologis in a research report on Monday. Industrial Alliance Securities set a $119.00 target price on Prologis in a research note on Monday, October 20th. Wells Fargo & Company upped their price target on Prologis from $120.00 to $139.00 and gave the stock an “overweight” rating in a research note on Monday, October 27th. Finally, Barclays decreased their price target on Prologis from $119.00 to $118.00 and set an “overweight” rating for the company in a report on Monday, September 15th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, Prologis has an average rating of “Moderate Buy” and an average price target of $126.78.

Check Out Our Latest Report on Prologis

Prologis Stock Performance

Shares of Prologis stock opened at $129.07 on Thursday. The firm’s fifty day simple moving average is $122.46 and its 200-day simple moving average is $113.59. Prologis has a 12 month low of $85.35 and a 12 month high of $129.87. The stock has a market capitalization of $119.89 billion, a price-to-earnings ratio of 37.63, a PEG ratio of 3.96 and a beta of 1.40. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.64 and a quick ratio of 0.64.

Prologis (NYSE:PLD – Get Free Report) last issued its quarterly earnings results on Wednesday, October 15th. The real estate investment trust reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.05. The firm had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Prologis had a net margin of 36.71% and a return on equity of 5.55%. Prologis’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.43 EPS. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. As a group, equities analysts forecast that Prologis will post 5.73 earnings per share for the current year.

Insiders Place Their Bets

In other Prologis news, Director Cristina Gabriela Bita sold 621 shares of the stock in a transaction on Monday, December 1st. The stock was sold at an average price of $127.60, for a total value of $79,239.60. Following the completion of the transaction, the director owned 8,208 shares in the company, valued at approximately $1,047,340.80. This represents a 7.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold a total of 1,621 shares of company stock worth $198,655 over the last quarter. Corporate insiders own 0.57% of the company’s stock.

Hedge Funds Weigh In On Prologis

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in Prologis by 0.3% in the third quarter. Vanguard Group Inc. now owns 122,064,883 shares of the real estate investment trust’s stock valued at $13,978,870,000 after buying an additional 323,551 shares in the last quarter. State Street Corp grew its holdings in shares of Prologis by 1.9% in the 2nd quarter. State Street Corp now owns 58,640,842 shares of the real estate investment trust’s stock worth $6,164,325,000 after acquiring an additional 1,088,544 shares during the period. Geode Capital Management LLC increased its stake in Prologis by 1.4% in the 2nd quarter. Geode Capital Management LLC now owns 22,416,833 shares of the real estate investment trust’s stock valued at $2,345,922,000 after purchasing an additional 310,333 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Prologis by 1.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 16,506,899 shares of the real estate investment trust’s stock worth $1,735,205,000 after purchasing an additional 253,338 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in Prologis during the first quarter worth $1,456,768,000. 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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