KBC Group NV Decreases Holdings in Prologis, Inc. (NYSE:PLD)

KBC Group NV reduced its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 7.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 383,794 shares of the real estate investment trust's stock after selling 29,443 shares during the period. KBC Group NV's holdings in Prologis were worth $42,905,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in PLD. Norges Bank acquired a new stake in shares of Prologis in the fourth quarter valued at about $951,263,000. Northern Trust Corp boosted its holdings in Prologis by 54.6% in the 4th quarter. Northern Trust Corp now owns 13,855,339 shares of the real estate investment trust's stock worth $1,464,509,000 after acquiring an additional 4,893,284 shares during the period. Capital Research Global Investors grew its position in Prologis by 25.4% in the fourth quarter. Capital Research Global Investors now owns 12,345,523 shares of the real estate investment trust's stock valued at $1,304,922,000 after acquiring an additional 2,500,761 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Prologis in the fourth quarter valued at approximately $254,876,000. Finally, FMR LLC raised its stake in shares of Prologis by 11.7% during the fourth quarter. FMR LLC now owns 17,878,397 shares of the real estate investment trust's stock valued at $1,889,747,000 after purchasing an additional 1,875,978 shares during the period. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Trading Up 1.1%

NYSE PLD opened at $105.58 on Monday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.41 and a current ratio of 0.41. Prologis, Inc. has a one year low of $85.35 and a one year high of $132.57. The company has a 50-day simple moving average of $106.21 and a 200-day simple moving average of $109.47. The firm has a market capitalization of $97.97 billion, a PE ratio of 26.39, a price-to-earnings-growth ratio of 2.68 and a beta of 1.25.

Prologis (NYSE:PLD - Get Free Report) last issued its earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.38 by $0.04. Prologis had a net margin of 44.59% and a return on equity of 6.45%. The firm had revenue of $1.99 billion for the quarter, compared to analysts' expectations of $1.99 billion. On average, equities analysts forecast that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Tuesday, June 17th will be given a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 3.83%. The ex-dividend date is Tuesday, June 17th. Prologis's dividend payout ratio is presently 101.00%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on PLD shares. Mizuho decreased their target price on shares of Prologis from $117.00 to $105.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Wolfe Research cut shares of Prologis from an "outperform" rating to a "peer perform" rating in a research report on Monday, April 21st. Truist Financial lowered their target price on Prologis from $123.00 to $120.00 and set a "buy" rating for the company in a research note on Monday, May 5th. BMO Capital Markets cut their price target on Prologis from $105.00 to $95.00 and set an "outperform" rating on the stock in a research note on Monday, April 14th. Finally, Royal Bank Of Canada reduced their price target on Prologis from $128.00 to $117.00 and set a "sector perform" rating for the company in a report on Tuesday, April 29th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $120.42.

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.

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