Allspring Global Investments Holdings LLC Has $46.81 Million Position in Prologis, Inc. (NYSE:PLD)

Allspring Global Investments Holdings LLC cut its stake in shares of Prologis, Inc. (NYSE:PLD) by 2.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 448,974 shares of the real estate investment trust’s stock after selling 11,555 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Prologis were worth $46,810,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Dunhill Financial LLC lifted its holdings in Prologis by 239.5% during the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 182 shares during the period. Hara Capital LLC acquired a new position in shares of Prologis in the 3rd quarter valued at about $48,000. Coastline Trust Co acquired a new position in shares of Prologis in the 3rd quarter valued at about $52,000. Fortitude Family Office LLC lifted its stake in shares of Prologis by 120.6% in the 3rd quarter. Fortitude Family Office LLC now owns 439 shares of the real estate investment trust’s stock valued at $55,000 after purchasing an additional 240 shares during the period. Finally, Hanson & Doremus Investment Management lifted its stake in shares of Prologis by 42.2% in the 4th quarter. Hanson & Doremus Investment Management now owns 623 shares of the real estate investment trust’s stock valued at $66,000 after purchasing an additional 185 shares during the period. 93.50% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the business’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 transaction of $1,305,783.78. Following the completion of the sale, the executive now directly owns 7,977 shares of the company’s stock, valued at approximately $947,188.98. The trade was a 57.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PLD. Mizuho dropped their price objective on Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Scotiabank dropped their price objective on Prologis from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a research note on Monday, January 27th. The Goldman Sachs Group reissued a “neutral” rating and issued a $132.00 price objective (down from $142.00) on shares of Prologis in a research note on Monday, October 21st. Baird R W raised Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Finally, JPMorgan Chase & Co. dropped their price objective on Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a research note on Monday, October 21st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Prologis presently has a consensus rating of “Moderate Buy” and an average price target of $128.78.

Prologis Stock Performance

Shares of PLD opened at $121.07 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.23. The stock has a 50 day moving average price of $111.39 and a two-hundred day moving average price of $118.15. The firm has a market capitalization of $112.13 billion, a P/E ratio of 30.27, a P/E/G ratio of 2.64 and a beta of 1.10. Prologis, Inc. has a 52 week low of $100.82 and a 52 week high of $135.76.

Prologis Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were issued a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date was Monday, December 16th. Prologis’s dividend payout ratio is currently 96.00%.

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.