Prologis, Inc. $PLD Stock: Allspring Global Investments Holdings LLC Grows Holdings

Key Points

• Allspring Global Investments increased its Prologis stake by 1.2% in the third quarter, adding 7,765 shares to hold 649,939 shares valued at about $83.3 million. Institutional investors collectively own 93.5% of the stock.
• Analysts give Prologis a “Moderate Buy” consensus, with an average price target of $154.05; recent ratings include both Buy and Hold recommendations.
• Prologis shares opened at $130.45, and the company’s quarterly dividend of $1.07 per share represents a 3.3% annualized yield.

Allspring Global Investments Holdings LLC boosted its stake in Prologis, Inc. (NYSE:PLD - Free Report) by 1.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 649,939 shares of the real estate investment trust's stock after buying an additional 7,765 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.07% of Prologis worth $83,309,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of PLD. Sandy Cove Advisors LLC lifted its holdings in Prologis by 1.9% in the 2nd quarter. Sandy Cove Advisors LLC now owns 3,854 shares of the real estate investment trust's stock valued at $522,000 after purchasing an additional 73 shares in the last quarter. CoreCap Advisors LLC boosted its stake in Prologis by 5.0% during the 2nd quarter. CoreCap Advisors LLC now owns 1,538 shares of the real estate investment trust's stock worth $208,000 after purchasing an additional 73 shares during the last quarter. Boltwood Capital Management grew its holdings in shares of Prologis by 1.5% during the second quarter. Boltwood Capital Management now owns 5,170 shares of the real estate investment trust's stock worth $700,000 after buying an additional 75 shares in the last quarter. Hibernia Wealth Partners LLC grew its holdings in shares of Prologis by 2.5% during the first quarter. Hibernia Wealth Partners LLC now owns 3,070 shares of the real estate investment trust's stock worth $406,000 after buying an additional 76 shares in the last quarter. Finally, Quadrant Private Wealth Management LLC grew its holdings in shares of Prologis by 4.4% during the first quarter. Quadrant Private Wealth Management LLC now owns 1,818 shares of the real estate investment trust's stock worth $240,000 after buying an additional 77 shares in the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. KeyCorp reiterated a "sector weight" rating on shares of Prologis in a research report on Monday, October 19th. Weiss Ratings cut shares of Prologis from a "buy (b)" rating to a "buy (b-)" rating in a research note on Wednesday, August 26th. Williams Trading set a $150.00 price objective on shares of Prologis in a report on Friday, October 16th. BMO Capital Markets reissued an "outperform" rating on shares of Prologis in a research note on Friday, October 16th. Finally, Barclays raised their target price on shares of Prologis from $139.00 to $156.00 and gave the stock an "overweight" rating in a research note on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat, Prologis has a consensus rating of "Moderate Buy" and an average target price of $154.05.

Prologis Price Performance

Shares of PLD stock opened at $130.45 on Tuesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market capitalization of $123.99 billion, a PE ratio of 21.29, a price-to-earnings-growth ratio of 1.49 and a beta of 1.27. The firm's 50-day moving average is $131.40 and its two-hundred day moving average is $137.71. Prologis, Inc. has a 12 month low of $121.40 and a 12 month high of $153.35.

Prologis Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th were given a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend was Wednesday, September 16th. Prologis's payout ratio is presently 94.48%.

Prologis Profile

Prologis is a global logistics real estate company that owns, develops and operates warehouses, distribution centers and other facilities used to store and move goods. Its properties support customers in industries including retail, manufacturing, transportation and e-commerce.

The company also provides property management and development services and invests in logistics real estate through investment management platforms. Its facilities are located in major markets across North America, Europe, Asia and Latin America.

Prologis traces its roots to 1983, when it was established as Security Capital Industrial Trust.

Want to see what other hedge funds are holding PLD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Prologis, Inc. (NYSE:PLD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.