ING Groep NV Sells 44,940 Shares of Prologis, Inc. (NYSE:PLD)

ING Groep NV trimmed its stake in shares of Prologis, Inc. (NYSE:PLD) by 35.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm 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 as of its most recent SEC filing.

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

Insider Activity

In related news, CIO Joseph Ghazal sold 10,997 shares of the company’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the sale, the executive now owns 7,977 shares in the company, valued at $947,188.98. This represents a 57.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.50% of the company’s stock.

Prologis Trading Up 0.1 %

Shares of PLD stock opened at $121.01 on Friday. The stock has a market cap of $112.16 billion, a price-to-earnings ratio of 30.25, a PEG ratio of 2.72 and a beta of 1.10. The stock has a 50-day moving average of $112.56 and a 200-day moving average of $118.03. 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, Inc. has a 1-year low of $100.82 and a 1-year high of $135.76.

Prologis Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be paid a $1.01 dividend. This is a boost from Prologis’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $4.04 annualized dividend and a dividend yield of 3.34%. Prologis’s dividend payout ratio is presently 96.00%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on PLD shares. Scotiabank lowered their price target on Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a report on Monday, January 27th. UBS Group boosted their price target on Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. BTIG Research lowered their price target on Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a report on Friday, January 17th. BNP Paribas raised Prologis to a “strong-buy” rating in a report on Wednesday, January 22nd. Finally, Royal Bank of Canada boosted their price target on Prologis from $125.00 to $128.00 and gave the stock a “sector perform” rating in a report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Prologis has a consensus rating of “Moderate Buy” and an average price target of $128.78.

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.