Mizuho Upgrades Prologis (NYSE:PLD) to Outperform

Key Points

• Mizuho has upgraded Prologis from a "hold" to an "outperform" rating, increasing the target price from $109.00 to $118.00, indicating a potential upside of 6.14% from the stock's previous close.
• Currently, Prologis boasts a "Moderate Buy" average rating, with two analysts giving it a Strong Buy rating and one analyst issuing a Sell rating.
• Prologis reported earnings of $1.46 per share for the last quarter, exceeding estimates, and posted a revenue of $2.03 billion, marking an 8.8% increase year-over-year.

Prologis (NYSE:PLD - Get Free Report) was upgraded by stock analysts at Mizuho from a "hold" rating to an "outperform" rating in a research report issued to clients and investors on Tuesday, MarketBeat reports. The firm currently has a $118.00 target price on the real estate investment trust's stock, up from their previous target price of $109.00. Mizuho's price target would suggest a potential upside of 6.14% from the stock's previous close.

Other analysts have also issued reports about the stock. Robert W. Baird cut their target price on shares of Prologis from $126.00 to $120.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Wolfe Research lowered Prologis from an "outperform" rating to a "peer perform" rating in a research report on Monday, April 21st. Scotiabank increased their target price on shares of Prologis from $97.00 to $100.00 and gave the stock a "sector underperform" rating in a research note on Monday, May 12th. Citigroup decreased their price target on Prologis from $150.00 to $140.00 and set a "buy" rating for the company in a report on Wednesday, July 23rd. Finally, Wall Street Zen lowered Prologis from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $121.06.

Prologis Stock Up 0.4%

PLD traded up $0.41 during trading hours on Tuesday, hitting $111.17. 388,525 shares of the company's stock were exchanged, compared to its average volume of 4,466,277. The firm has a market cap of $103.17 billion, a P/E ratio of 30.13, a price-to-earnings-growth ratio of 2.64 and a beta of 1.21. Prologis has a 12-month low of $85.35 and a 12-month high of $132.57. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.61. The firm has a 50 day moving average of $107.08 and a 200 day moving average of $108.94.

Prologis (NYSE:PLD - Get Free Report) last posted its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 EPS for the quarter, topping the consensus estimate of $1.41 by $0.05. Prologis had a net margin of 40.29% and a return on equity of 5.96%. The business had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the previous year, the firm posted $1.34 earnings per share. The company's quarterly revenue was up 8.8% compared to the same quarter last year. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. Analysts predict that Prologis will post 5.73 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Brighton Jones LLC grew its holdings in Prologis by 629.0% in the fourth quarter. Brighton Jones LLC now owns 17,475 shares of the real estate investment trust's stock valued at $1,847,000 after purchasing an additional 15,078 shares during the period. First Trust Advisors LP boosted its position in Prologis by 19.3% during the 4th quarter. First Trust Advisors LP now owns 188,928 shares of the real estate investment trust's stock worth $19,970,000 after purchasing an additional 30,526 shares during the period. Dark Forest Capital Management LP grew its stake in shares of Prologis by 28.6% in the fourth quarter. Dark Forest Capital Management LP now owns 4,078 shares of the real estate investment trust's stock valued at $431,000 after buying an additional 907 shares in the last quarter. MGO One Seven LLC grew its position in Prologis by 14.0% in the fourth quarter. MGO One Seven LLC now owns 12,282 shares of the real estate investment trust's stock valued at $1,298,000 after acquiring an additional 1,507 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. boosted its stake in shares of Prologis by 8.8% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 779,100 shares of the real estate investment trust's stock valued at $82,351,000 after purchasing an additional 63,200 shares during the period. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

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.

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