Prologis (NYSE:PLD) Price Target Raised to $138.00

Prologis (NYSE:PLD) had its price target hoisted by Mizuho from $118.00 to $138.00 in a research note released on Thursday,Benzinga reports. The brokerage currently has an outperform rating on the real estate investment trust’s stock.

Other equities research analysts have also recently issued research reports about the stock. Scotiabank raised their price objective on shares of Prologis from $127.00 to $133.00 and gave the stock a “sector perform” rating in a research note on Monday, November 10th. Wells Fargo & Company increased their price target on shares of Prologis from $120.00 to $139.00 and gave the stock an “overweight” rating in a report on Monday, October 27th. BMO Capital Markets upgraded shares of Prologis from an “underperform” rating to a “market perform” rating and set a $119.00 price target on the stock in a research report on Monday, October 20th. Industrial Alliance Securities set a $119.00 price objective on shares of Prologis in a research report on Monday, October 20th. Finally, UBS Group set a $138.00 target price on shares of Prologis in a research note on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $126.78.

Prologis Stock Performance

NYSE PLD opened at $127.97 on Thursday. The firm has a market capitalization of $118.87 billion, a P/E ratio of 37.31, a PEG ratio of 3.93 and a beta of 1.40. The stock has a 50-day simple moving average of $123.04 and a two-hundred day simple moving average of $113.85. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.64 and a current ratio of 0.64. Prologis has a fifty-two week low of $85.35 and a fifty-two week high of $130.45.

Prologis (NYSE:PLD) last issued its earnings results on Wednesday, October 15th. The real estate investment trust reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.05. The firm had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.03 billion. Prologis had a return on equity of 5.55% and a net margin of 36.71%.The company’s 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 earnings per share. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. On average, equities analysts forecast that Prologis will post 5.73 earnings per share for the current year.

Prologis Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th will be issued a dividend of $1.01 per share. The ex-dividend date of this dividend is Tuesday, December 16th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.2%. Prologis’s dividend payout ratio is presently 117.78%.

Insider Buying and Selling at Prologis

In other news, Director Cristina Gabriela Bita sold 621 shares of Prologis stock in a transaction that occurred 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 sale, the director directly owned 8,208 shares of the company’s stock, valued at $1,047,340.80. The trade was a 7.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold a total of 1,621 shares of company stock valued at $198,655 in the last quarter. Company insiders own 0.57% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PLD. Vanguard Group Inc. raised its position in shares of 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 during the last quarter. State Street Corp grew its stake in Prologis by 1.9% during the 2nd quarter. State Street Corp now owns 58,640,842 shares of the real estate investment trust’s stock valued at $6,164,325,000 after acquiring an additional 1,088,544 shares in the last quarter. Geode Capital Management LLC raised its holdings 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 acquiring an additional 310,333 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Prologis by 1.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 16,506,899 shares of the real estate investment trust’s stock valued at $1,735,205,000 after acquiring an additional 253,338 shares during the last quarter. Finally, Nuveen LLC acquired a new position in shares of Prologis during the 1st quarter worth approximately $1,456,768,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

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.