ING Groep NV Increases Stock Position in Prologis, Inc. (NYSE:PLD)

Key Points

• ING Groep NV increased its holdings in Prologis, Inc. by 49.3% in the first quarter, owning 119,565 shares valued at $13.37 million.
• Prologis recently reported an 8.8% year-over-year revenue growth for the latest quarter, achieving an earnings per share of $1.46, surpassing analyst estimates.
• The company announced a quarterly dividend of $1.01, translating to an annualized dividend of $4.04 with a yield of 3.8%.

ING Groep NV grew its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 49.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 119,565 shares of the real estate investment trust's stock after buying an additional 39,458 shares during the period. ING Groep NV's holdings in Prologis were worth $13,366,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. REAP Financial Group LLC grew its stake in Prologis by 40.0% during the fourth quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust's stock worth $31,000 after purchasing an additional 84 shares during the period. Olde Wealth Management LLC acquired a new stake in Prologis during the first quarter worth approximately $43,000. Cornerstone Planning Group LLC grew its stake in Prologis by 63.6% during the first quarter. Cornerstone Planning Group LLC now owns 391 shares of the real estate investment trust's stock worth $44,000 after purchasing an additional 152 shares during the period. Missouri Trust & Investment Co grew its stake in Prologis by 59.6% during the first quarter. Missouri Trust & Investment Co now owns 399 shares of the real estate investment trust's stock worth $45,000 after purchasing an additional 149 shares during the period. Finally, Bogart Wealth LLC grew its stake in Prologis by 56.2% in the first quarter. Bogart Wealth LLC now owns 417 shares of the real estate investment trust's stock valued at $47,000 after acquiring an additional 150 shares during the period. Institutional investors and hedge funds own 93.50% of the company's stock.

Prologis Price Performance

PLD stock traded down $1.29 during mid-day trading on Wednesday, reaching $105.75. The company's stock had a trading volume of 3,683,934 shares, compared to its average volume of 4,756,755. The stock has a market cap of $98.14 billion, a PE ratio of 28.66, a P/E/G ratio of 2.68 and a beta of 1.21. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.61. Prologis, Inc. has a fifty-two week low of $85.35 and a fifty-two week high of $132.57. The company's 50 day moving average is $107.59 and its two-hundred day moving average is $109.76.

Prologis (NYSE:PLD - Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.41 by $0.05. Prologis had a net margin of 40.29% and a return on equity of 5.96%. The business had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter last year, the firm earned $1.34 EPS. The business's revenue was up 8.8% compared to the same quarter last year. Equities research analysts expect that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Tuesday, June 17th were paid a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 3.8%. The ex-dividend date was Tuesday, June 17th. Prologis's dividend payout ratio (DPR) is currently 109.49%.

Analyst Ratings Changes

PLD has been the subject of a number of research reports. CJS Securities reduced their price objective on Prologis from $140.00 to $117.00 in a research note on Friday, April 11th. Evercore ISI dropped their target price on Prologis from $111.00 to $106.00 and set an "in-line" rating on the stock in a report on Thursday, April 17th. Scotiabank raised their target price on Prologis from $97.00 to $100.00 and gave the company a "sector underperform" rating in a report on Monday, May 12th. Truist Financial dropped their target price on Prologis from $123.00 to $120.00 and set a "buy" rating on the stock in a report on Monday, May 5th. Finally, Robert W. Baird dropped their target price on Prologis from $126.00 to $120.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Prologis currently has a consensus rating of "Moderate Buy" and an average price target of $120.74.

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.