Prologis, Inc. (NYSE:PLD) Shares Sold by Norden Group LLC

Norden Group LLC lessened its stake in Prologis, Inc. (NYSE:PLD) by 6.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,938 shares of the real estate investment trust’s stock after selling 327 shares during the period. Norden Group LLC’s holdings in Prologis were worth $522,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Centricity Wealth Management LLC acquired a new position in Prologis in the 4th quarter valued at about $30,000. Dunhill Financial LLC increased its position in Prologis by 239.5% in the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 182 shares during the period. Whipplewood Advisors LLC acquired a new position in Prologis in the 4th quarter valued at about $34,000. Hara Capital LLC acquired a new position in Prologis in the 3rd quarter valued at about $48,000. Finally, Coastline Trust Co acquired a new position in Prologis in the 3rd quarter valued at about $52,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Insider Activity at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of the company’s stock in a transaction that occurred 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 sale, the executive now owns 7,977 shares of the company’s stock, valued at approximately $947,188.98. This represents a 57.96 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

PLD has been the topic of several recent research reports. BNP Paribas upgraded Prologis to a “strong-buy” rating in a research report on Wednesday, January 22nd. UBS Group boosted their target price on Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Truist Financial boosted their target price on Prologis from $121.00 to $123.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Robert W. Baird boosted their target price on Prologis from $123.00 to $124.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Finally, Barclays boosted their target price on Prologis from $131.00 to $132.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $128.78.

Prologis Price Performance

PLD stock opened at $123.48 on Tuesday. Prologis, Inc. has a 1 year low of $100.82 and a 1 year high of $135.76. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. The stock’s 50 day moving average price is $114.66 and its 200 day moving average price is $118.00. The firm has a market cap of $114.45 billion, a P/E ratio of 30.87, a PEG ratio of 2.70 and a beta of 1.10.

Prologis Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be paid a $1.01 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $4.04 dividend on an annualized basis and a yield of 3.27%. This is a positive change from Prologis’s previous quarterly dividend of $0.96. Prologis’s dividend payout ratio is presently 101.00%.

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.