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

KBC Group NV grew its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 213.4% in the 3rd quarter, according to its most recent disclosure with the Securities and 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 0.09% of Prologis worth $108,311,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Swedbank AB bought a new stake in Prologis in the 1st quarter valued at $596,614,000. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of Prologis in the second quarter valued at about $203,223,000. Vanguard Group Inc. lifted its stake in shares of 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 buying an additional 1,460,229 shares during the period. AMF Tjanstepension AB grew its position in Prologis by 267.9% during the third quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust's stock worth $236,879,000 after buying an additional 1,365,811 shares in the last quarter. Finally, Federated Hermes Inc. increased its stake in Prologis by 326.3% during the second quarter. Federated Hermes Inc. now owns 1,774,932 shares of the real estate investment trust's stock valued at $199,343,000 after acquiring an additional 1,358,542 shares during the period. Institutional investors and hedge funds own 93.50% of the company's stock.

Prologis Price Performance

Shares of Prologis stock traded down $1.22 during trading on Thursday, reaching $115.35. The company's stock had a trading volume of 2,463,792 shares, compared to its average volume of 3,643,310. The stock has a 50-day moving average price of $121.87 and a two-hundred day moving average price of $117.90. The stock has a market capitalization of $106.83 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 current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56. Prologis, Inc. has a one year low of $101.11 and a one year high of $137.52.

Prologis (NYSE:PLD - Get Free Report) last announced its 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). Prologis had a return on equity of 5.34% and a net margin of 39.08%. The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same period in the prior year, the firm posted $1.30 earnings per share. The company's revenue was up 6.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Prologis, Inc. will post 5.45 EPS for the current fiscal year.

Prologis Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 3.33%. The ex-dividend date was Monday, September 16th. Prologis's dividend payout ratio is 116.01%.

Analyst Ratings Changes

A number of brokerages have commented on PLD. Barclays reduced their price objective on Prologis from $142.00 to $131.00 and set an "overweight" rating for the company in a research report on Thursday, October 10th. The Goldman Sachs Group reissued a "neutral" rating and issued a $132.00 price target (down previously from $142.00) on shares of Prologis in a report on Monday, October 21st. Argus raised their price objective on shares of Prologis from $120.00 to $135.00 and gave the stock a "buy" rating in a report on Tuesday, July 23rd. Morgan Stanley upped their target price on shares of Prologis from $132.00 to $133.00 and gave the company an "overweight" rating in a research note on Wednesday, August 14th. Finally, Bank of America restated a "neutral" rating and set a $128.00 price target on shares of Prologis in a research note on Monday, August 12th. Eight research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Prologis presently has a consensus rating of "Moderate Buy" and a consensus price target of $131.12.

Insider Buying and Selling at Prologis

In other news, CIO Joseph Ghazal sold 5,200 shares of the business's stock in a transaction 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 sale, the executive now owns 13,187 shares in the company, valued at $1,702,046.09. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.50% 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.