Allspring Global Investments Holdings LLC Purchases 21,383 Shares of Prologis, Inc. $PLD

Allspring Global Investments Holdings LLC raised its position in Prologis, Inc. (NYSE:PLD) by 5.5% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 410,877 shares of the real estate investment trust’s stock after purchasing an additional 21,383 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Prologis were worth $47,859,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Clayton Financial Group LLC bought a new position in shares of Prologis during the third quarter worth about $26,000. Barrett & Company Inc. acquired a new position in Prologis during the 2nd quarter worth approximately $44,000. Twin Peaks Wealth Advisors LLC bought a new position in shares of Prologis during the 2nd quarter worth approximately $44,000. Toth Financial Advisory Corp acquired a new stake in shares of Prologis in the third quarter valued at approximately $52,000. Finally, Sound Income Strategies LLC lifted its position in shares of Prologis by 32.1% in the third quarter. Sound Income Strategies LLC now owns 482 shares of the real estate investment trust’s stock worth $55,000 after purchasing an additional 117 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors.

Prologis Stock Down 1.0%

Shares of PLD stock opened at $127.71 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.64 and a current ratio of 0.64. The firm’s 50-day moving average is $126.76 and its 200-day moving average is $116.57. The stock has a market cap of $118.63 billion, a price-to-earnings ratio of 37.23, a PEG ratio of 3.92 and a beta of 1.40. Prologis, Inc. has a 52-week low of $85.35 and a 52-week high of $131.70.

Prologis (NYSE:PLD) last posted its quarterly earnings results on Tuesday, October 28th. The real estate investment trust reported $0.82 EPS for the quarter. The business had revenue of $2.21 billion during the quarter. Prologis had a return on equity of 5.55% and a net margin of 36.71%. Sell-side analysts predict that Prologis, Inc. will post 5.73 EPS for the current year.

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th were issued a dividend of $1.01 per share. The ex-dividend date of this dividend was Tuesday, December 16th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.2%. Prologis’s payout ratio is presently 117.78%.

Analysts Set New Price Targets

PLD has been the subject of a number of analyst reports. BTIG Research raised their target price on shares of Prologis from $134.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday. Evercore ISI raised their price objective on Prologis from $116.00 to $118.00 in a report on Monday, December 22nd. BMO Capital Markets raised Prologis from an “underperform” rating to a “market perform” rating and set a $119.00 target price on the stock in a research report on Monday, October 20th. Barclays dropped their target price on Prologis from $119.00 to $118.00 and set an “overweight” rating on the stock in a report on Monday, September 15th. Finally, Mizuho raised their price target on Prologis from $118.00 to $138.00 and gave the company an “outperform” rating in a research note on Thursday, December 4th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, Prologis has an average rating of “Moderate Buy” and a consensus target price of $128.24.

Insiders Place Their Bets

In other Prologis news, Director Cristina Gabriela Bita sold 621 shares of the firm’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $127.60, for a total transaction of $79,239.60. Following the completion of the sale, the director owned 8,208 shares of the company’s stock, valued at $1,047,340.80. This trade represents a 7.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.57% of the company’s stock.

Prologis Company Profile

Prologis, Inc is a real estate investment trust (REIT) specializing in logistics and distribution facilities. The company focuses on acquiring, developing, and managing high-quality industrial real estate assets that support supply chain infrastructure for third-party logistics providers, e-commerce businesses, retailers and manufacturers. Its portfolio primarily consists of warehouse and distribution centers designed to optimize goods movement and storage near key transportation hubs.

With a global presence, Prologis serves customers across the Americas, Europe and Asia Pacific.