Norden Group LLC Has $8.52 Million Holdings in Prologis, Inc. (NYSE:PLD)

Norden Group LLC grew its stake in Prologis, Inc. (NYSE:PLD) by 1,405.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 65,416 shares of the real estate investment trust’s stock after buying an additional 61,072 shares during the period. Norden Group LLC’s holdings in Prologis were worth $8,518,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Bourgeon Capital Management LLC lifted its position in shares of Prologis by 1.6% in the first quarter. Bourgeon Capital Management LLC now owns 52,405 shares of the real estate investment trust’s stock worth $6,824,000 after buying an additional 834 shares during the last quarter. State of Alaska Department of Revenue lifted its position in shares of Prologis by 0.7% in the first quarter. State of Alaska Department of Revenue now owns 542,831 shares of the real estate investment trust’s stock worth $70,687,000 after buying an additional 3,668 shares during the last quarter. Yoder Wealth Management Inc. acquired a new stake in shares of Prologis in the first quarter worth about $308,000. Valeo Financial Advisors LLC lifted its position in shares of Prologis by 182,067.2% in the first quarter. Valeo Financial Advisors LLC now owns 48,877,279 shares of the real estate investment trust’s stock worth $6,364,799,000 after buying an additional 48,850,448 shares during the last quarter. Finally, Naviter Wealth LLC lifted its position in shares of Prologis by 14.3% in the first quarter. Naviter Wealth LLC now owns 68,765 shares of the real estate investment trust’s stock worth $8,955,000 after buying an additional 8,599 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on PLD. Royal Bank of Canada dropped their price objective on Prologis from $145.00 to $124.00 and set an “outperform” rating on the stock in a research note on Monday, May 6th. StockNews.com lowered Prologis from a “hold” rating to a “sell” rating in a research note on Friday, June 21st. The Goldman Sachs Group dropped their price objective on Prologis from $163.00 to $140.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. Scotiabank dropped their price objective on Prologis from $149.00 to $130.00 and set a “sector outperform” rating on the stock in a research note on Thursday, May 16th. Finally, Barclays dropped their price objective on Prologis from $135.00 to $123.00 and set an “overweight” rating on the stock in a research note on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $129.76.

Prologis Trading Up 0.1 %

PLD stock opened at $113.30 on Friday. Prologis, Inc. has a 1-year low of $96.64 and a 1-year high of $137.52. The firm has a market cap of $104.90 billion, a P/E ratio of 33.13, a P/E/G ratio of 2.52 and a beta of 1.06. The business’s 50 day moving average is $108.66 and its 200-day moving average is $121.39. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.51.

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Monday, June 17th were paid a $0.96 dividend. The ex-dividend date was Monday, June 17th. This represents a $3.84 annualized dividend and a dividend yield of 3.39%. Prologis’s dividend payout ratio is currently 112.28%.

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.