KBC Group NV Acquires 2,804 Shares of Prologis, Inc. $PLD

KBC Group NV grew its holdings in shares of Prologis, Inc. (NYSE:PLD) by 0.7% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 386,598 shares of the real estate investment trust’s stock after purchasing an additional 2,804 shares during the quarter. KBC Group NV’s holdings in Prologis were worth $40,639,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Activest Wealth Management raised its holdings in Prologis by 637.1% during the first quarter. Activest Wealth Management now owns 258 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 223 shares during the period. Pandora Wealth Inc. purchased a new stake in Prologis during the first quarter valued at approximately $34,000. GKV Capital Management Co. Inc. purchased a new position in Prologis during the first quarter worth $34,000. Saudi Central Bank bought a new stake in shares of Prologis in the 1st quarter worth about $41,000. Finally, Barrett & Company Inc. bought a new position in Prologis during the 2nd quarter valued at about $44,000. Institutional investors own 93.50% of the company’s stock.

Prologis Stock Performance

PLD stock opened at $124.87 on Thursday. Prologis, Inc. has a one year low of $85.35 and a one year high of $127.50. The firm has a market cap of $115.98 billion, a price-to-earnings ratio of 36.40, a PEG ratio of 3.13 and a beta of 1.29. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.65 and a current ratio of 0.64. The firm has a 50-day simple moving average of $118.73 and a two-hundred day simple moving average of $111.49.

Prologis (NYSE:PLD) last posted its quarterly earnings data on Wednesday, October 15th. The real estate investment trust reported $1.49 EPS for the quarter, topping the consensus estimate of $1.44 by $0.05. The firm had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.03 billion. Prologis had a net margin of 36.71% and a return on equity of 5.55%. Prologis’s revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.43 EPS. Prologis has set its FY 2025 guidance at 5.780-5.810 EPS. On average, equities analysts forecast that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were given a $1.01 dividend. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.2%. Prologis’s dividend payout ratio (DPR) is presently 117.78%.

Insider Buying and Selling at Prologis

In other news, Director Cristina Gabriela Bita sold 1,000 shares of the company’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $111.00, for a total transaction of $111,000.00. Following the transaction, the director owned 9,829 shares in the company, valued at $1,091,019. This represents a 9.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Lori A. Palazzolo sold 25,000 shares of the stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $111.33, for a total transaction of $2,783,250.00. Following the completion of the transaction, the chief accounting officer directly owned 414 shares of the company’s stock, valued at $46,090.62. The trade was a 98.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 27,000 shares of company stock worth $3,013,665. 0.57% of the stock is owned by company insiders.

Analyst Ratings Changes

PLD has been the topic of several research analyst reports. Bank of America raised Prologis from a “neutral” rating to a “buy” rating and upped their price objective for the company from $118.00 to $130.00 in a research report on Tuesday, September 16th. Mizuho set a $118.00 target price on shares of Prologis and gave the company an “outperform” rating in a research note on Tuesday, August 19th. Wells Fargo & Company lifted their target price on Prologis from $120.00 to $139.00 and gave the company an “overweight” rating in a research report on Monday, October 27th. Citigroup cut their price target on Prologis from $150.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, July 23rd. Finally, BMO Capital Markets upgraded Prologis from an “underperform” rating to a “market perform” rating and set a $119.00 price objective for the company in a report on Monday, October 20th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $125.39.

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.