Norden Group LLC Sells 180 Shares of Prologis, Inc. (NYSE:PLD)

Norden Group LLC reduced its position in Prologis, Inc. (NYSE:PLD) by 4.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,344 shares of the real estate investment trust’s stock after selling 180 shares during the period. Norden Group LLC’s holdings in Prologis were worth $579,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. Thompson Investment Management Inc. purchased a new position in shares of Prologis during the 4th quarter worth $28,000. FinTrust Capital Advisors LLC lifted its position in Prologis by 966.7% in the third quarter. FinTrust Capital Advisors LLC now owns 256 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 232 shares during the last quarter. Salem Investment Counselors Inc. purchased a new position in Prologis during the fourth quarter worth $37,000. FNY Investment Advisers LLC purchased a new stake in shares of Prologis in the fourth quarter valued at $39,000. Finally, Valley National Advisers Inc. boosted its stake in shares of Prologis by 178.6% during the 3rd quarter. Valley National Advisers Inc. now owns 390 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 250 shares during the period. Institutional investors own 93.50% of the company’s stock.

Prologis Stock Down 2.8 %

Prologis stock opened at $102.05 on Wednesday. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.51. Prologis, Inc. has a 52 week low of $96.64 and a 52 week high of $137.52. The business’s 50-day moving average price is $123.87 and its 200 day moving average price is $121.92. The firm has a market cap of $94.48 billion, a price-to-earnings ratio of 29.84, a price-to-earnings-growth ratio of 2.18 and a beta of 1.00.

Prologis Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were issued a dividend of $0.96 per share. The ex-dividend date was Friday, March 15th. This is an increase from Prologis’s previous quarterly dividend of $0.87. This represents a $3.84 dividend on an annualized basis and a yield of 3.76%. Prologis’s dividend payout ratio is 112.28%.

Analyst Ratings Changes

Several brokerages have issued reports on PLD. Raymond James boosted their target price on Prologis from $130.00 to $145.00 and gave the company a “strong-buy” rating in a research report on Wednesday, January 24th. UBS Group lowered their target price on shares of Prologis from $151.00 to $138.00 and set a “buy” rating for the company in a research note on Thursday, April 18th. JPMorgan Chase & Co. dropped their target price on shares of Prologis from $143.00 to $128.00 and set an “overweight” rating on the stock in a report on Thursday, April 25th. Robert W. Baird reduced their price target on shares of Prologis from $137.00 to $117.00 and set a “neutral” rating for the company in a report on Wednesday. Finally, StockNews.com downgraded shares of Prologis from a “hold” rating to a “sell” rating in a research note on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $132.35.

Prologis Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 31, 2023, 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.