KBC Group NV Buys 584,038 Shares of Prologis, Inc. (NYSE:PLD)

KBC Group NV raised its stake in Prologis, Inc. (NYSE:PLD) by 213.4% during the third quarter, HoldingsChannel reports. The institutional investor owned 857,708 shares of the real estate investment trust’s stock after acquiring an additional 584,038 shares during the period. KBC Group NV’s holdings in Prologis were worth $108,311,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Prologis by 1.2% in the first quarter. Vanguard Group Inc. now owns 120,945,384 shares of the real estate investment trust’s stock valued at $15,749,508,000 after acquiring an additional 1,460,229 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Prologis by 2.5% in the 2nd 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 during the last quarter. Principal Financial Group Inc. increased its position in shares of Prologis by 1.4% during the second quarter. Principal Financial Group Inc. now owns 12,265,926 shares of the real estate investment trust’s stock worth $1,377,588,000 after buying an additional 167,131 shares during the period. Centersquare Investment Management LLC raised its stake in Prologis by 5.7% during 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 buying an additional 367,565 shares during the last quarter. Finally, Daiwa Securities Group Inc. raised its stake in Prologis by 16.3% during the second 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 and hedge funds own 93.50% of the company’s stock.

Insiders Place Their Bets

In other news, CIO Joseph Ghazal sold 5,200 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $129.07, for a total transaction of $671,164.00. Following the completion of the sale, the executive now owns 13,187 shares in the company, valued at $1,702,046.09. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PLD. The Goldman Sachs Group reiterated a “neutral” rating and set a $132.00 price target (down from $142.00) on shares of Prologis in a report on Monday, October 21st. Morgan Stanley raised their target price on Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. Wells Fargo & Company boosted their price target on Prologis from $142.00 to $146.00 and gave the company an “overweight” rating in a research note on Wednesday, August 28th. Royal Bank of Canada lowered shares of Prologis from an “outperform” rating to a “sector perform” rating and lifted their price objective for the company from $124.00 to $127.00 in a research note on Monday, August 5th. Finally, Barclays cut their target price on shares of Prologis from $142.00 to $131.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Eight research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $131.12.

Prologis Price Performance

Prologis stock opened at $116.56 on Thursday. Prologis, Inc. has a 52 week low of $101.11 and a 52 week high of $137.52. The company’s 50 day moving average price is $122.11 and its two-hundred day moving average price is $117.91. The stock has a market cap of $107.95 billion, a P/E ratio of 35.21, a P/E/G 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.

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

Prologis Announces Dividend

The business 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. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.84 dividend on an annualized basis and a yield of 3.29%. Prologis’s dividend payout ratio (DPR) is presently 116.01%.

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.