Allspring Global Investments Holdings LLC Sells 75,759 Shares of Prologis, Inc. (NYSE:PLD)

Allspring Global Investments Holdings LLC cut its stake in Prologis, Inc. (NYSE:PLD) by 13.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 470,609 shares of the real estate investment trust’s stock after selling 75,759 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.05% of Prologis worth $61,283,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in PLD. Vaughan Nelson Investment Management L.P. grew its position in Prologis by 38.0% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 1,099,029 shares of the real estate investment trust’s stock valued at $143,116,000 after purchasing an additional 302,725 shares during the last quarter. Colton Groome Financial Advisors LLC grew its position in Prologis by 1.3% during the 1st quarter. Colton Groome Financial Advisors LLC now owns 11,047 shares of the real estate investment trust’s stock valued at $1,439,000 after purchasing an additional 137 shares during the last quarter. Stewart & Patten Co. LLC grew its position in Prologis by 1.0% during the 1st quarter. Stewart & Patten Co. LLC now owns 127,734 shares of the real estate investment trust’s stock valued at $16,634,000 after purchasing an additional 1,270 shares during the last quarter. Oak Thistle LLC purchased a new stake in Prologis during the 1st quarter valued at about $200,000. Finally, Miracle Mile Advisors LLC grew its position in Prologis by 1.3% during the 1st quarter. Miracle Mile Advisors LLC now owns 14,236 shares of the real estate investment trust’s stock valued at $1,854,000 after purchasing an additional 183 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors.

Prologis Price Performance

NYSE PLD opened at $113.21 on Wednesday. Prologis, Inc. has a 12 month low of $96.64 and a 12 month high of $137.52. The stock has a market cap of $104.81 billion, a price-to-earnings ratio of 33.10, a PEG ratio of 2.50 and a beta of 1.06. The company’s 50 day moving average is $108.29 and its two-hundred day moving average is $121.60. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.51.

Prologis Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 17th were paid a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date of this dividend was Monday, June 17th. Prologis’s payout ratio is 112.28%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on PLD shares. The Goldman Sachs Group dropped their price target on shares of Prologis from $163.00 to $140.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. BMO Capital Markets downgraded shares of Prologis from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $145.00 to $112.00 in a report on Monday, April 22nd. Scotiabank dropped their price target on shares of Prologis from $149.00 to $130.00 and set a “sector outperform” rating on the stock in a report on Thursday, May 16th. Royal Bank of Canada dropped their price target 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. Finally, UBS Group lowered their price objective on shares of Prologis from $151.00 to $138.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Prologis presently has a consensus rating of “Moderate Buy” and an average target price of $129.76.

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.