Prologis (NYSE:PLD) Stock Price Up 4.7% Following Analyst Upgrade

Key Points

• Prologis shares surged by 4.7% to $110.34 after previously closing at $105.44, although trading volume fell significantly to 876,703 shares compared to the average of 4.47 million.
• Recent analyst ratings vary widely, with price targets ranging from $119.00 to $137.00, and the consensus rating being a "Moderate Buy" with an average target price of $121.06.
• Prologis reported Q2 earnings per share (EPS) of $1.46, exceeding estimates, and projected FY 2025 guidance between 5.750 and 5.800 EPS.

Prologis, Inc. (NYSE:PLD - Get Free Report) shares were up 4.7% on Tuesday after Mizuho upgraded the stock from a hold rating to an outperform rating. Mizuho now has a $118.00 price target on the stock, up from their previous price target of $109.00. Prologis traded as high as $110.20 and last traded at $110.34. Approximately 876,703 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 4,470,745 shares. The stock had previously closed at $105.44.

Other equities research analysts also recently issued research reports about the company. Scotiabank upped their price target on Prologis from $97.00 to $100.00 and gave the stock a "sector underperform" rating in a report on Monday, May 12th. Wolfe Research lowered shares of Prologis from an "outperform" rating to a "peer perform" rating in a research note on Monday, April 21st. Royal Bank Of Canada dropped their price target on shares of Prologis from $128.00 to $117.00 and set a "sector perform" rating on the stock in a research report on Tuesday, April 29th. Barclays reduced their price objective on shares of Prologis from $132.00 to $119.00 and set an "overweight" rating for the company in a research report on Wednesday, April 30th. Finally, Wells Fargo & Company set a $137.00 price objective on shares of Prologis and gave the company an "overweight" rating in a research note on Sunday, July 13th. 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 given a Sell rating to the company's stock. According to MarketBeat, Prologis presently has a consensus rating of "Moderate Buy" and an average target price of $121.06.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Prologis by 0.3% in the second quarter. Vanguard Group Inc. now owns 121,741,332 shares of the real estate investment trust's stock worth $12,797,449,000 after buying an additional 401,922 shares during the last quarter. State Street Corp grew its stake in shares of 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 worth $6,164,325,000 after acquiring an additional 1,088,544 shares during the period. Geode Capital Management LLC increased 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 worth $2,345,922,000 after acquiring an additional 310,333 shares during the last quarter. Massachusetts Financial Services Co. MA increased 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 worth $1,735,205,000 after acquiring an additional 253,338 shares during the last quarter. Finally, Northern Trust Corp raised its stake in Prologis by 54.6% in the 4th quarter. Northern Trust Corp now owns 13,855,339 shares of the real estate investment trust's stock valued at $1,464,509,000 after acquiring an additional 4,893,284 shares during the period. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Prologis Stock Performance

The company has a debt-to-equity ratio of 0.61, a current ratio of 0.65 and a quick ratio of 0.65. The firm has a market capitalization of $103.90 billion, a PE ratio of 30.25, a P/E/G ratio of 2.76 and a beta of 1.21. The company's fifty day simple moving average is $107.11 and its 200 day simple moving average is $108.88.

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

Prologis Company Profile

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.