Mizuho Reaffirms “Buy” Rating for Prologis (NYSE:PLD)

Mizuho reiterated their buy rating on shares of Prologis (NYSE:PLD) in a research report released on Wednesday morning, Benzinga reports. Mizuho currently has a $140.00 target price on the real estate investment trust’s stock.

A number of other analysts have also recently weighed in on PLD. Barclays reduced their price target on Prologis from $160.00 to $159.00 in a research report on Wednesday, June 28th. Morgan Stanley reaffirmed an overweight rating and issued a $128.00 price target on shares of Prologis in a research report on Thursday, July 20th. BNP Paribas upgraded Prologis from a neutral rating to an outperform rating and set a $141.00 price objective on the stock in a research note on Thursday, July 20th. 888 reiterated a maintains rating on shares of Prologis in a research note on Wednesday, June 28th. Finally, Truist Financial dropped their price objective on Prologis from $140.00 to $135.00 in a research note on Tuesday, June 27th. Three research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Prologis presently has an average rating of Moderate Buy and an average price target of $140.65.

Prologis Price Performance

PLD opened at $123.18 on Wednesday. The stock has a market cap of $113.80 billion, a price-to-earnings ratio of 32.42, a PEG ratio of 2.42 and a beta of 0.98. Prologis has a 1 year low of $98.03 and a 1 year high of $136.67. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.48. The stock has a fifty day moving average price of $123.69 and a 200 day moving average price of $122.81.

Prologis (NYSE:PLD) last released its quarterly earnings data on Tuesday, July 18th. The real estate investment trust reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.15. The firm had revenue of $2.45 billion during the quarter, compared to analysts’ expectations of $1.72 billion. Prologis had a return on equity of 6.17% and a net margin of 42.52%. The business’s revenue for the quarter was up 95.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.11 earnings per share. Analysts forecast that Prologis will post 5.59 EPS for the current fiscal year.

Prologis Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Monday, September 18th will be given a dividend of $0.87 per share. The ex-dividend date is Friday, September 15th. This represents a $3.48 dividend on an annualized basis and a yield of 2.83%. Prologis’s dividend payout ratio (DPR) is presently 91.58%.

Insider Buying and Selling

In related news, Director George L. Fotiades sold 10,711 shares of the stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $123.98, for a total transaction of $1,327,949.78. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Prologis

A number of large investors have recently bought and sold shares of the business. BOKF NA boosted its position in Prologis by 11.8% in the 4th quarter. BOKF NA now owns 34,919 shares of the real estate investment trust’s stock valued at $3,937,000 after buying an additional 3,685 shares during the last quarter. ASB Consultores LLC bought a new position in Prologis in the 1st quarter valued at $243,000. Wealthcare Advisory Partners LLC bought a new position in Prologis in the 4th quarter valued at $302,000. Assetmark Inc. boosted its position in Prologis by 10.7% in the 1st quarter. Assetmark Inc. now owns 25,854 shares of the real estate investment trust’s stock valued at $3,226,000 after buying an additional 2,509 shares during the last quarter. Finally, Advisor Group Holdings Inc. boosted its position in Prologis by 8.0% in the 4th quarter. Advisor Group Holdings Inc. now owns 342,592 shares of the real estate investment trust’s stock valued at $38,649,000 after buying an additional 25,317 shares during the last quarter. 90.90% of the stock is currently owned by 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 June 30, 2023, 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 (114 million square meters) in 19 countries.