Red Door Wealth Management LLC Buys 2,261 Shares of Prologis, Inc. (NYSE:PLD)

Red Door Wealth Management LLC grew its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 6.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 37,830 shares of the real estate investment trust's stock after acquiring an additional 2,261 shares during the period. Red Door Wealth Management LLC's holdings in Prologis were worth $3,999,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Sunbelt Securities Inc. grew its stake in Prologis by 640.0% during the second quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust's stock worth $29,000 after purchasing an additional 224 shares during the period. Dunhill Financial LLC grew its position in shares of Prologis by 239.5% during the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust's stock worth $33,000 after buying an additional 182 shares during the period. Hara Capital LLC bought a new stake in shares of Prologis in the 3rd quarter valued at $48,000. Coastline Trust Co bought a new stake in shares of Prologis in the 3rd quarter valued at $52,000. Finally, Fortitude Family Office LLC lifted its position in shares of Prologis by 120.6% during the 3rd quarter. Fortitude Family Office LLC now owns 439 shares of the real estate investment trust's stock valued at $55,000 after acquiring an additional 240 shares during the period. 93.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Barclays raised their price target on shares of Prologis from $131.00 to $132.00 and gave the stock an "overweight" rating in a report on Monday, November 18th. BMO Capital Markets downgraded Prologis from a "market perform" rating to an "underperform" rating and reduced their target price for the company from $120.00 to $104.00 in a research note on Friday, December 6th. Wolfe Research dropped their price target on Prologis from $135.00 to $128.00 and set an "overweight" rating on the stock in a research note on Friday, January 17th. Raymond James reiterated an "outperform" rating and issued a $125.00 price target (down previously from $130.00) on shares of Prologis in a report on Wednesday, December 11th. Finally, BNP Paribas upgraded Prologis to a "strong-buy" rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $128.67.

Prologis Stock Up 0.3 %

Prologis stock traded up $0.36 during midday trading on Friday, hitting $118.90. 4,165,829 shares of the stock were exchanged, compared to its average volume of 4,862,321. Prologis, Inc. has a 52-week low of $100.82 and a 52-week high of $135.76. The company has a quick ratio of 0.43, a current ratio of 0.23 and a debt-to-equity ratio of 0.53. The business's 50-day moving average price is $110.38 and its 200-day moving average price is $118.34. The stock has a market capitalization of $110.12 billion, a price-to-earnings ratio of 29.73, a price-to-earnings-growth ratio of 3.19 and a beta of 1.09.

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were paid a $0.96 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.23%. Prologis's payout ratio is presently 96.00%.

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.