Red Door Wealth Management LLC Grows Stake in Prologis, Inc. (NYSE:PLD)

Red Door Wealth Management LLC lifted its stake in shares of Prologis, Inc. (NYSE:PLD) by 6.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 37,830 shares of the real estate investment trust’s stock after buying an additional 2,261 shares during the quarter. Red Door Wealth Management LLC’s holdings in Prologis were worth $3,999,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in PLD. Sunbelt Securities Inc. increased its holdings in shares of Prologis by 640.0% in the second quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 224 shares during the period. Dunhill Financial LLC increased its holdings in Prologis by 239.5% during the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 182 shares in the last quarter. Hara Capital LLC acquired a new position in Prologis during the third quarter worth about $48,000. Coastline Trust Co purchased a new stake in Prologis in the 3rd quarter valued at approximately $52,000. Finally, Fortitude Family Office LLC boosted its stake in shares of Prologis by 120.6% during the third 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 last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Prologis Trading Up 2.8 %

Shares of NYSE PLD opened at $118.38 on Friday. Prologis, Inc. has a 12-month low of $100.82 and a 12-month high of $135.76. The company has a market cap of $109.64 billion, a price-to-earnings ratio of 29.59, a price-to-earnings-growth ratio of 3.25 and a beta of 1.09. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56. The stock’s 50 day simple moving average is $110.31 and its 200 day simple moving average is $118.33.

Prologis Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were given a dividend of $0.96 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $3.84 annualized dividend and a dividend yield of 3.24%. Prologis’s dividend payout ratio is currently 96.00%.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Robert W. Baird raised shares of Prologis from a “neutral” rating to an “outperform” rating and dropped their price objective for the company from $124.00 to $123.00 in a research note on Monday, January 6th. Barclays increased their target price on Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. Raymond James reiterated an “outperform” rating and issued a $125.00 price objective (down previously from $130.00) on shares of Prologis in a report on Wednesday, December 11th. Scotiabank lowered their price objective on Prologis from $136.00 to $134.00 and set a “sector outperform” rating for the company in a research note on Wednesday, December 4th. Finally, JPMorgan Chase & Co. cut their target price on Prologis from $138.00 to $131.00 and set an “overweight” rating on the stock in a research report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Prologis has an average rating of “Moderate Buy” and a consensus target price of $128.67.

About Prologis

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.