ING Groep NV Has $8.47 Million Holdings in Prologis, Inc. (NYSE:PLD)

ING Groep NV lowered its position in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 35.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 80,107 shares of the real estate investment trust's stock after selling 44,940 shares during the quarter. ING Groep NV's holdings in Prologis were worth $8,467,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of PLD. Dunhill Financial LLC grew its stake in shares of Prologis by 239.5% in the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust's stock worth $33,000 after purchasing an additional 182 shares during the last quarter. Hara Capital LLC bought a new stake in Prologis during the third quarter worth approximately $48,000. Coastline Trust Co acquired a new position in Prologis in the third quarter worth approximately $52,000. Asset Planning Inc acquired a new stake in shares of Prologis during the 4th quarter valued at $53,000. Finally, Fortitude Family Office LLC lifted its position in shares of Prologis by 120.6% during the 3rd quarter. Fortitude Family Office LLC now owns 439 shares of the real estate investment trust's stock valued at $55,000 after acquiring an additional 240 shares during the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Wolfe Research cut their target price on Prologis from $135.00 to $128.00 and set an "overweight" rating on the stock in a research report on Friday, January 17th. BTIG Research cut their price objective on Prologis from $154.00 to $134.00 and set a "buy" rating on the stock in a report on Friday, January 17th. Truist Financial raised their target price on shares of Prologis from $121.00 to $123.00 and gave the stock a "buy" rating in a report on Monday, January 27th. Robert W. Baird boosted their price target on shares of Prologis from $123.00 to $124.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Finally, Royal Bank of Canada raised their price objective on shares of Prologis from $125.00 to $128.00 and gave the stock a "sector perform" rating in a research note on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Prologis currently has an average rating of "Moderate Buy" and a consensus price target of $128.78.

Prologis Stock Up 1.8 %

NYSE PLD traded up $2.12 during trading on Tuesday, hitting $122.85. 1,250,148 shares of the company traded hands, compared to its average volume of 3,818,562. Prologis, Inc. has a 12 month low of $100.82 and a 12 month high of $135.76. The business has a fifty day simple moving average of $112.80 and a 200 day simple moving average of $117.98. The company has a market capitalization of $113.87 billion, a P/E ratio of 30.72, a PEG ratio of 2.70 and a beta of 1.10. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53.

Prologis Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be paid a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.29%. This is an increase from Prologis's previous quarterly dividend of $0.96. The ex-dividend date is Tuesday, March 18th. Prologis's dividend payout ratio (DPR) is presently 101.00%.

Insider Buying and Selling

In other news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total value of $1,305,783.78. Following the transaction, the executive now directly owns 7,977 shares in the company, valued at approximately $947,188.98. The trade was a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.56% of the company's stock.

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.