Nordea Investment Management AB Purchases 263,649 Shares of Prologis, Inc. (NYSE:PLD)

Nordea Investment Management AB lifted its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 380.0% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 333,022 shares of the real estate investment trust's stock after buying an additional 263,649 shares during the period. Nordea Investment Management AB's holdings in Prologis were worth $43,046,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PLD. Alps Advisors Inc. boosted its stake in shares of Prologis by 19.5% in the 3rd quarter. Alps Advisors Inc. now owns 2,880 shares of the real estate investment trust's stock worth $323,000 after buying an additional 470 shares during the last quarter. Townsquare Capital LLC lifted its stake in Prologis by 15.9% in the third quarter. Townsquare Capital LLC now owns 9,335 shares of the real estate investment trust's stock valued at $1,048,000 after purchasing an additional 1,280 shares during the last quarter. First Foundation Advisors lifted its stake in Prologis by 20.1% in the third quarter. First Foundation Advisors now owns 4,850 shares of the real estate investment trust's stock valued at $544,000 after purchasing an additional 811 shares during the last quarter. Belpointe Asset Management LLC lifted its stake in Prologis by 30.4% in the third quarter. Belpointe Asset Management LLC now owns 9,187 shares of the real estate investment trust's stock valued at $1,031,000 after purchasing an additional 2,140 shares during the last quarter. Finally, Harbour Investments Inc. lifted its stake in Prologis by 20.3% in the third quarter. Harbour Investments Inc. now owns 3,591 shares of the real estate investment trust's stock valued at $403,000 after purchasing an additional 606 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company's stock.

Prologis Price Performance

PLD traded up $0.05 during trading on Tuesday, reaching $114.46. The stock had a trading volume of 2,196,108 shares, compared to its average volume of 3,694,884. The stock has a market cap of $105.97 billion, a PE ratio of 33.58, a PEG ratio of 2.55 and a beta of 1.06. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.29 and a current ratio of 0.29. Prologis, Inc. has a one year low of $96.64 and a one year high of $137.52. The business has a 50-day moving average of $109.26 and a 200-day moving average of $120.94.

Prologis Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 17th were given a dividend of $0.96 per share. The ex-dividend date of this dividend was Monday, June 17th. This represents a $3.84 annualized dividend and a yield of 3.35%. Prologis's payout ratio is 112.28%.

Analyst Upgrades and Downgrades

PLD has been the topic of several research analyst reports. Evercore ISI dropped their price objective on Prologis from $136.00 to $123.00 and set an "in-line" rating on the stock in a research note on Thursday, April 18th. Robert W. Baird lowered their target price on shares of Prologis from $137.00 to $117.00 and set a "neutral" rating on the stock in a report on Wednesday, May 1st. Royal Bank of Canada lowered their target price on shares of Prologis from $145.00 to $124.00 and set an "outperform" rating on the stock in a report on Monday, May 6th. UBS Group lowered their target price on shares of Prologis from $151.00 to $138.00 and set a "buy" rating on the stock in a report on Thursday, April 18th. Finally, BMO Capital Markets cut shares of Prologis from an "outperform" rating to a "market perform" rating and lowered their target price for the company from $145.00 to $112.00 in a report on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $129.76.

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.