Left Brain Wealth Management LLC reduced its stake in shares of Prologis, Inc. (NYSE:PLD – Free Report) by 40.6% during the 3rd quarter, HoldingsChannel reports. The fund 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 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PLD. Sandy Cove Advisors LLC boosted its holdings in shares of Prologis by 1.9% in the 2nd quarter. Sandy Cove Advisors LLC now owns 3,854 shares of the real estate investment trust’s stock worth $522,000 after purchasing an additional 73 shares during the period. CoreCap Advisors LLC raised its holdings in Prologis by 5.0% during the 2nd quarter. CoreCap Advisors LLC now owns 1,538 shares of the real estate investment trust’s stock valued at $208,000 after buying an additional 73 shares during the period. Boltwood Capital Management raised its holdings in Prologis by 1.5% during the 2nd quarter. Boltwood Capital Management now owns 5,170 shares of the real estate investment trust’s stock valued at $700,000 after buying an additional 75 shares during the period. Hibernia Wealth Partners LLC raised its holdings in Prologis by 2.5% during the 1st quarter. Hibernia Wealth Partners LLC now owns 3,070 shares of the real estate investment trust’s stock valued at $406,000 after buying an additional 76 shares during the period. Finally, Quadrant Private Wealth Management LLC lifted its position in Prologis by 4.4% in the first quarter. Quadrant Private Wealth Management LLC now owns 1,818 shares of the real estate investment trust’s stock worth $240,000 after buying an additional 77 shares during the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
PLD has been the subject of several recent analyst reports. BTIG Research reaffirmed a “buy” rating and set a $170.00 price objective on shares of Prologis in a research note on Friday, October 16th. Truist Financial reduced their target price on shares of Prologis from $162.00 to $141.00 and set a “buy” rating on the stock in a research note on Friday, October 23rd. Wall Street Zen raised shares of Prologis from a “sell” rating to a “hold” rating in a research note on Saturday, July 18th. Scotiabank upgraded shares of Prologis from a “sector perform” rating to a “sector outperform” rating and set a $150.00 target price for the company in a report on Tuesday, October 13th. Finally, Royal Bank Of Canada raised shares of Prologis from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $148.00 to $160.00 in a research note on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $154.68.
Get Our Latest Stock Analysis on PLD
Prologis Trading Up 0.1%
PLD opened at $128.09 on Friday. The stock has a market cap of $121.75 billion, a price-to-earnings ratio of 28.28, a P/E/G ratio of 1.46 and a beta of 1.31. The stock’s 50 day moving average price is $132.95 and its 200-day moving average price is $137.78. Prologis, Inc. has a one year low of $121.40 and a one year high of $153.35. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.70 and a current ratio of 0.81.
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 paid a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend was Wednesday, September 16th. Prologis’s dividend payout ratio (DPR) is currently 94.48%.
About Prologis
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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