9,363 Prologis, Inc. $PLD Shares Sold by Left Brain Wealth Management LLC

Key Points

• Left Brain Wealth Management reduced its Prologis stake by 40.6% in the third quarter, selling 9,363 shares and retaining 13,725 shares valued at approximately $1.78 million.
• Other institutional investors generally increased their holdings, and institutional ownership of Prologis stands at 93.5%.
• Prologis shares opened at $128.09, while the company maintains a $1.07 quarterly dividend, representing a 3.3% yield. Analysts hold a consensus “Moderate Buy” rating with an average price target of $154.68.

Left Brain Wealth Management LLC cut its holdings in Prologis, Inc. (NYSE:PLD - Free Report) by 40.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,725 shares of the real estate investment trust's stock after selling 9,363 shares during the period. Left Brain Wealth Management LLC's holdings in Prologis were worth $1,782,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its holdings in shares of Prologis by 2,862.3% in the third quarter. International Assets Investment Management LLC now owns 67,452 shares of the real estate investment trust's stock worth $8,758,000 after buying an additional 65,175 shares in the last quarter. Brian Low Financial Group LLC boosted its position in shares of Prologis by 4.4% during the third quarter. Brian Low Financial Group LLC now owns 19,165 shares of the real estate investment trust's stock worth $2,488,000 after acquiring an additional 804 shares during the last quarter. Soltis Investment Advisors LLC boosted its position in shares of Prologis by 5.0% during the third quarter. Soltis Investment Advisors LLC now owns 3,997 shares of the real estate investment trust's stock worth $519,000 after acquiring an additional 191 shares during the last quarter. BOKF NA boosted its position in shares of Prologis by 13.9% during the third quarter. BOKF NA now owns 1,183 shares of the real estate investment trust's stock worth $154,000 after acquiring an additional 144 shares during the last quarter. Finally, North Dakota State Investment Board grew its stake in Prologis by 5.2% during the third quarter. North Dakota State Investment Board now owns 29,005 shares of the real estate investment trust's stock valued at $3,766,000 after acquiring an additional 1,423 shares in the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Stock Up 0.1%

NYSE PLD opened at $128.09 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.70 and a current ratio of 0.81. The company has a market capitalization of $121.75 billion, a P/E ratio of 28.28, a P/E/G ratio of 1.46 and a beta of 1.31. Prologis, Inc. has a one year low of $121.40 and a one year high of $153.35. The stock has a 50 day moving average price of $132.95 and a 200-day moving average price of $137.78.

Prologis Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts have commented on PLD shares. Scotiabank upgraded shares of Prologis from a "sector perform" rating to a "sector outperform" rating and set a $150.00 price target on the stock in a research note on Tuesday, October 13th. Williams Trading set a $150.00 price objective on shares of Prologis in a report on Friday, October 16th. Truist Financial cut their price objective on Prologis from $162.00 to $141.00 and set a "buy" rating for the company in a research report on Friday, October 23rd. Wall Street Zen upgraded Prologis from a "sell" rating to a "hold" rating in a research report on Saturday, July 18th. Finally, Weiss Ratings cut Prologis from a "buy (b)" rating to a "buy (b-)" rating in a report on Wednesday, August 26th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, Prologis has a consensus rating of "Moderate Buy" and a consensus target price of $154.68.

Prologis Profile

Prologis, Inc is a global real estate investment trust that owns, develops, acquires and manages logistics properties. Its portfolio primarily includes warehouses, distribution centers and fulfillment facilities used by retailers, manufacturers, transportation companies and other businesses to support supply-chain operations and e-commerce.

The company also provides property management, development and leasing services, along with related supply-chain and customer solutions. Through its Prologis Essentials platform, it offers services and technologies designed to help customers improve warehouse operations, including energy, mobility and operational solutions.

Prologis serves major population centers and trade corridors across North America, Europe, Asia and Latin America.

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