Prologis, Inc. (NYSE:PLD) Shares Bought by ING Groep NV

ING Groep NV grew its holdings in shares of Prologis, Inc. (NYSE:PLD) by 1.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 125,047 shares of the real estate investment trust’s stock after buying an additional 1,378 shares during the quarter. ING Groep NV’s holdings in Prologis were worth $15,791,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Swedbank AB raised its stake in Prologis by 9.2% during the second quarter. Swedbank AB now owns 5,002,274 shares of the real estate investment trust’s stock worth $561,805,000 after acquiring an additional 420,687 shares during the period. Envestnet Portfolio Solutions Inc. lifted its stake in Prologis by 36.1% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 162,990 shares of the real estate investment trust’s stock valued at $18,305,000 after buying an additional 43,235 shares in the last quarter. Sunflower Bank N.A. purchased a new stake in shares of Prologis in the third quarter valued at $249,000. Centersquare Investment Management LLC lifted its position in shares of Prologis by 5.7% in the first quarter. Centersquare Investment Management LLC now owns 6,840,176 shares of the real estate investment trust’s stock worth $890,728,000 after purchasing an additional 367,565 shares in the last quarter. Finally, Cetera Advisors LLC grew its holdings in shares of Prologis by 118.7% during the 1st quarter. Cetera Advisors LLC now owns 37,992 shares of the real estate investment trust’s stock valued at $4,947,000 after acquiring an additional 20,623 shares in the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Prologis Trading Down 1.6 %

PLD opened at $114.75 on Friday. The stock has a market cap of $106.28 billion, a PE ratio of 34.67, a price-to-earnings-growth ratio of 2.96 and a beta of 1.08. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.56. The company has a fifty day moving average of $121.87 and a 200-day moving average of $117.90. Prologis, Inc. has a twelve month low of $101.11 and a twelve month high of $137.52.

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

Prologis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 3.35%. The ex-dividend date of this dividend was Monday, September 16th. Prologis’s dividend payout ratio (DPR) is presently 116.01%.

Insiders Place Their Bets

In related news, CIO Joseph Ghazal sold 5,200 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $129.07, for a total value of $671,164.00. Following the completion of the transaction, the executive now directly owns 13,187 shares in the company, valued at approximately $1,702,046.09. The trade was a 28.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

PLD has been the subject of a number of analyst reports. Argus boosted their price target on Prologis from $120.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Barclays cut their price target on shares of Prologis from $142.00 to $131.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. Morgan Stanley raised their price objective on shares of Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. StockNews.com upgraded Prologis from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Finally, Bank of America restated a “neutral” rating and set a $128.00 target price on shares of Prologis in a research report on Monday, August 12th. Eight equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.12.

Prologis 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.