ING Groep NV Purchases 1,378 Shares of Prologis, Inc. (NYSE:PLD)

ING Groep NV raised its position in shares of Prologis, Inc. (NYSE:PLD) by 1.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 125,047 shares of the real estate investment trust’s stock after purchasing an additional 1,378 shares during the period. ING Groep NV’s holdings in Prologis were worth $15,791,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Quantbot Technologies LP acquired a new stake in Prologis during the 1st quarter worth about $352,000. Lord Abbett & CO. LLC raised its holdings in shares of Prologis by 1.4% during the first quarter. Lord Abbett & CO. LLC now owns 200,161 shares of the real estate investment trust’s stock worth $26,065,000 after purchasing an additional 2,696 shares during the last quarter. Blair William & Co. IL grew its position in Prologis by 16.0% during the 1st quarter. Blair William & Co. IL now owns 29,186 shares of the real estate investment trust’s stock worth $3,801,000 after purchasing an additional 4,020 shares during the period. Brighton Jones LLC lifted its holdings in shares of Prologis by 0.8% in the 1st quarter. Brighton Jones LLC now owns 14,337 shares of the real estate investment trust’s stock valued at $1,867,000 after buying an additional 118 shares during the period. Finally, Dorsey & Whitney Trust CO LLC boosted its stake in shares of Prologis by 2.3% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 10,249 shares of the real estate investment trust’s stock worth $1,335,000 after buying an additional 232 shares during the last quarter. Institutional investors own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on PLD. Evercore ISI upped their price objective on Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. JPMorgan Chase & Co. reduced their target price on Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a report on Monday, October 21st. StockNews.com upgraded Prologis from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. Scotiabank lowered their target price 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. Finally, Truist Financial raised their price target on shares of Prologis from $125.00 to $137.00 and gave the stock a “buy” rating in a research note 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 company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $131.12.

Insider Activity

In other news, CIO Joseph Ghazal sold 5,200 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $129.07, for a total transaction of $671,164.00. Following the completion of the transaction, the executive now directly owns 13,187 shares of the company’s stock, valued at approximately $1,702,046.09. This represents a 28.28 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.50% of the company’s stock.

Prologis Stock Performance

Shares of Prologis stock opened at $114.75 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.43 and a quick ratio of 0.43. The stock has a market capitalization of $106.28 billion, a price-to-earnings ratio of 34.67, a price-to-earnings-growth ratio of 2.96 and a beta of 1.08. The business has a 50-day moving average of $121.87 and a 200 day moving average of $117.90. Prologis, Inc. has a 12 month low of $101.11 and a 12 month high of $137.52.

Prologis (NYSE:PLD) last announced its quarterly earnings data 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 business 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 last year, the firm posted $1.30 EPS. As a group, sell-side analysts forecast that Prologis, Inc. will post 5.45 earnings per share for the current year.

Prologis Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 3.35%. The ex-dividend date was Monday, September 16th. Prologis’s dividend payout ratio (DPR) is 116.01%.

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.