Allspring Global Investments Holdings LLC Has $49.53 Million Position in Prologis, Inc. (NYSE:PLD)

Allspring Global Investments Holdings LLC lessened its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 1.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 444,438 shares of the real estate investment trust's stock after selling 4,536 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Prologis were worth $49,533,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Cohen & Steers Inc. grew its holdings in Prologis by 3.2% during the 4th quarter. Cohen & Steers Inc. now owns 28,331,750 shares of the real estate investment trust's stock valued at $2,994,557,000 after buying an additional 882,529 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Prologis by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 21,372,231 shares of the real estate investment trust's stock worth $2,252,853,000 after buying an additional 610,251 shares in the last quarter. FMR LLC grew its holdings in shares of Prologis by 11.7% during the fourth quarter. FMR LLC now owns 17,878,397 shares of the real estate investment trust's stock worth $1,889,747,000 after buying an additional 1,875,978 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Prologis by 2.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 16,596,799 shares of the real estate investment trust's stock worth $1,754,282,000 after buying an additional 334,907 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Prologis by 54.6% during the fourth quarter. Northern Trust Corp now owns 13,855,339 shares of the real estate investment trust's stock worth $1,464,509,000 after buying an additional 4,893,284 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently commented on PLD. BMO Capital Markets lowered their price target on shares of Prologis from $105.00 to $95.00 and set an "outperform" rating for the company in a report on Monday, April 14th. Wall Street Zen downgraded shares of Prologis from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. CJS Securities lowered their price target on shares of Prologis from $140.00 to $117.00 in a report on Friday, April 11th. Morgan Stanley lowered their price target on shares of Prologis to $120.00 and set an "outperform" rating for the company in a report on Monday, April 14th. Finally, Royal Bank Of Canada lowered their price target on shares of Prologis from $128.00 to $117.00 and set a "sector perform" rating for the company in a report on Tuesday, April 29th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Prologis has an average rating of "Moderate Buy" and an average target price of $120.42.

Prologis Price Performance

PLD traded up $1.78 on Wednesday, reaching $108.36. The company had a trading volume of 3,458,860 shares, compared to its average volume of 4,161,903. The company has a fifty day moving average of $106.61 and a 200-day moving average of $109.40. The company has a market capitalization of $100.55 billion, a P/E ratio of 27.09, a PEG ratio of 2.70 and a beta of 1.23. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.56. Prologis, Inc. has a one year low of $85.35 and a one year high of $132.57.

Prologis (NYSE:PLD - Get Free Report) last issued its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share for the quarter, beating analysts' consensus estimates of $1.38 by $0.04. Prologis had a net margin of 44.59% and a return on equity of 6.45%. The company had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.99 billion. As a group, equities research analysts anticipate that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Tuesday, June 17th were paid a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date was Tuesday, June 17th. Prologis's dividend payout ratio is presently 101.00%.

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.