Prologis, Inc. (NYSE:PLD) Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC grew its position in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 4.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 492,499 shares of the real estate investment trust's stock after acquiring an additional 21,890 shares during the period. Allspring Global Investments Holdings LLC owned about 0.05% of Prologis worth $55,313,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of PLD. Atria Wealth Solutions Inc. lifted its holdings in Prologis by 33.1% in the 4th quarter. Atria Wealth Solutions Inc. now owns 17,486 shares of the real estate investment trust's stock worth $2,331,000 after buying an additional 4,345 shares during the period. Headlands Technologies LLC purchased a new stake in Prologis in the fourth quarter worth $45,000. Transcend Capital Advisors LLC boosted its holdings in Prologis by 4.3% in the fourth quarter. Transcend Capital Advisors LLC now owns 4,646 shares of the real estate investment trust's stock valued at $619,000 after acquiring an additional 190 shares in the last quarter. Legacy Capital Wealth Partners LLC purchased a new position in Prologis during the 4th quarter valued at $204,000. Finally, Retirement Systems of Alabama increased its position in Prologis by 2.6% during the 4th quarter. Retirement Systems of Alabama now owns 1,115,870 shares of the real estate investment trust's stock valued at $148,745,000 after purchasing an additional 28,041 shares during the period. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Prologis Stock Performance

Shares of PLD traded down $2.05 on Wednesday, reaching $126.89. The company's stock had a trading volume of 2,500,959 shares, compared to its average volume of 3,641,666. The stock's 50 day simple moving average is $119.97 and its two-hundred day simple moving average is $119.12. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.36 and a quick ratio of 0.29. The stock has a market capitalization of $117.48 billion, a P/E ratio of 37.10, a PEG ratio of 3.02 and a beta of 1.06. Prologis, Inc. has a 12-month low of $96.64 and a 12-month high of $137.52.

Prologis (NYSE:PLD - Get Free Report) last issued its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share for the quarter, missing the consensus estimate of $1.33 by ($0.41). Prologis had a return on equity of 4.88% and a net margin of 36.37%. The business had revenue of $2.01 billion for the quarter, compared to analysts' expectations of $1.86 billion. During the same quarter in the prior year, the business earned $1.83 EPS. The company's revenue was down 18.1% compared to the same quarter last year. Research analysts forecast that Prologis, Inc. will post 5.43 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Royal Bank of Canada cut shares of Prologis from an "outperform" rating to a "sector perform" rating and raised their target price for the stock from $124.00 to $127.00 in a research report on Monday, August 5th. BMO Capital Markets restated a "market perform" rating and issued a $115.00 price objective on shares of Prologis in a report on Monday, July 15th. Barclays upped their target price on Prologis from $123.00 to $142.00 and gave the stock an "overweight" rating in a report on Tuesday, July 30th. Wells Fargo & Company increased their target price on Prologis from $142.00 to $146.00 and gave the stock an "overweight" rating in a research report on Wednesday. Finally, Evercore ISI lifted their price target on Prologis from $122.00 to $124.00 and gave the company an "in-line" rating in a research report on Wednesday. Seven equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Prologis has a consensus rating of "Moderate Buy" and an average target price of $133.12.

Insider Activity at Prologis

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the company's stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $129.07, for a total value of $671,164.00. Following the completion of the sale, the executive now owns 13,187 shares in the company, valued at $1,702,046.09. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.50% of the stock is owned by company insiders.

Prologis Company 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.