KBC Group NV Has $108.31 Million Stock Position in Prologis, Inc. (NYSE:PLD)

KBC Group NV increased its position in shares of Prologis, Inc. (NYSE:PLD) by 213.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 857,708 shares of the real estate investment trust’s stock after acquiring an additional 584,038 shares during the quarter. KBC Group NV owned about 0.09% of Prologis worth $108,311,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in PLD. Vanguard Group Inc. boosted its position in shares of Prologis by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 120,945,384 shares of the real estate investment trust’s stock worth $15,749,508,000 after purchasing an additional 1,460,229 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Prologis by 2.5% in the second quarter. Dimensional Fund Advisors LP now owns 13,209,926 shares of the real estate investment trust’s stock valued at $1,483,594,000 after purchasing an additional 317,815 shares in the last quarter. Principal Financial Group Inc. increased its stake in Prologis by 1.4% in the 2nd quarter. Principal Financial Group Inc. now owns 12,265,926 shares of the real estate investment trust’s stock valued at $1,377,588,000 after buying an additional 167,131 shares during the last quarter. Centersquare Investment Management LLC lifted its position in Prologis by 5.7% during the 1st quarter. Centersquare Investment Management LLC now owns 6,840,176 shares of the real estate investment trust’s stock worth $890,728,000 after buying an additional 367,565 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its stake in shares of Prologis by 16.3% during the 2nd quarter. Daiwa Securities Group Inc. now owns 6,832,861 shares of the real estate investment trust’s stock worth $767,398,000 after buying an additional 958,914 shares during the last quarter. Institutional investors own 93.50% of the company’s stock.

Prologis Price Performance

Prologis stock opened at $116.56 on Thursday. The stock has a fifty day moving average of $122.11 and a 200-day moving average of $117.91. The stock has a market capitalization of $107.95 billion, a P/E ratio of 35.21, a price-to-earnings-growth ratio of 2.96 and a beta of 1.08. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43. Prologis, Inc. has a 52 week low of $101.11 and a 52 week high of $137.52.

Prologis (NYSE:PLD) last posted its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.91 billion. Prologis had a net margin of 39.08% and a return on equity of 5.34%. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.30 earnings per share. On average, sell-side analysts expect that Prologis, Inc. will post 5.45 earnings per share for the current fiscal year.

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 3.29%. The ex-dividend date was Monday, September 16th. Prologis’s dividend payout ratio (DPR) is 116.01%.

Insider Buying and Selling

In other news, CIO Joseph Ghazal sold 5,200 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $129.07, for a total transaction of $671,164.00. Following the sale, the executive now directly owns 13,187 shares in the company, valued at approximately $1,702,046.09. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

PLD has been the subject of several recent research reports. Argus raised their price target on Prologis from $120.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. StockNews.com raised shares of Prologis from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. Scotiabank lowered their price objective on shares of Prologis from $142.00 to $136.00 and set a “sector outperform” rating on the stock in a research note on Friday, October 25th. Royal Bank of Canada cut Prologis from an “outperform” rating to a “sector perform” rating and lifted their price target for the stock from $124.00 to $127.00 in a report on Monday, August 5th. Finally, Truist Financial raised their price objective on Prologis from $125.00 to $137.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Eight equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $131.12.

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.