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

ING Groep NV decreased its holdings in shares of Prologis, Inc. (NYSE:PLD) by 35.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,107 shares of the real estate investment trust’s stock after selling 44,940 shares during the period. ING Groep NV’s holdings in Prologis were worth $8,467,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Empirical Asset Management LLC boosted its holdings in Prologis by 339.0% in the fourth quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust’s stock worth $7,249,000 after acquiring an additional 52,963 shares in the last quarter. Cardano Risk Management B.V. boosted its holdings in Prologis by 2.9% in the fourth quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust’s stock worth $94,391,000 after acquiring an additional 25,266 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in Prologis by 2.5% in the third quarter. DekaBank Deutsche Girozentrale now owns 1,199,812 shares of the real estate investment trust’s stock worth $149,116,000 after acquiring an additional 29,400 shares in the last quarter. Worldquant Millennium Advisors LLC bought a new position in Prologis in the third quarter worth approximately $1,051,000. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in Prologis in the third quarter worth approximately $7,371,000. Institutional investors own 93.50% of the company’s stock.

Prologis Stock Performance

Shares of PLD opened at $121.01 on Friday. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. The company has a market capitalization 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. Prologis, Inc. has a 12 month low of $100.82 and a 12 month high of $135.76.

Prologis Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be given a $1.01 dividend. This is an increase from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date is Tuesday, March 18th. Prologis’s dividend payout ratio (DPR) is currently 96.00%.

Insiders Place Their Bets

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the firm’s stock in a transaction on 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 completion of the sale, the executive now directly owns 7,977 shares of the company’s stock, valued at $947,188.98. This trade represents a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on PLD. Baird R W upgraded Prologis from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Wolfe Research cut their price target on Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Barclays raised their target price on Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a report on Monday, November 18th. BTIG Research dropped their target price on Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a report on Friday, January 17th. Finally, UBS Group raised their target price on Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $128.78.

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.