Empirical Financial Services LLC d.b.a. Empirical Wealth Management Increases Stock Holdings in Prologis, Inc. (NYSE:PLD)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in Prologis, Inc. (NYSE:PLD) by 13.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,998 shares of the real estate investment trust’s stock after acquiring an additional 584 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Prologis were worth $528,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. ASB Consultores LLC boosted its stake in Prologis by 3.7% during the 3rd quarter. ASB Consultores LLC now owns 2,423 shares of the real estate investment trust’s stock valued at $306,000 after acquiring an additional 86 shares during the last quarter. CX Institutional lifted its position in shares of Prologis by 2.7% during the third quarter. CX Institutional now owns 3,347 shares of the real estate investment trust’s stock worth $423,000 after purchasing an additional 88 shares during the last quarter. DT Investment Partners LLC grew its stake in Prologis by 9.8% in the third quarter. DT Investment Partners LLC now owns 1,043 shares of the real estate investment trust’s stock worth $132,000 after purchasing an additional 93 shares in the last quarter. Carmel Capital Partners LLC increased its holdings in Prologis by 2.6% in the third quarter. Carmel Capital Partners LLC now owns 3,749 shares of the real estate investment trust’s stock valued at $473,000 after buying an additional 94 shares during the last quarter. Finally, Yoder Wealth Management Inc. raised its stake in Prologis by 4.0% during the third quarter. Yoder Wealth Management Inc. now owns 2,500 shares of the real estate investment trust’s stock valued at $316,000 after buying an additional 97 shares in the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Prologis Price Performance

Shares of NYSE PLD opened at $119.35 on Thursday. The firm’s 50-day simple moving average is $110.73 and its 200 day simple moving average is $118.41. The stock has a market cap of $110.53 billion, a P/E ratio of 29.84, a P/E/G ratio of 3.19 and a beta of 1.09. The company has a quick ratio of 0.43, a current ratio of 0.23 and a debt-to-equity ratio of 0.53. Prologis, Inc. has a fifty-two week low of $100.82 and a fifty-two week high of $135.76.

Prologis Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were paid a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date was Monday, December 16th. Prologis’s dividend payout ratio is currently 96.00%.

Analyst Upgrades and Downgrades

PLD has been the subject of several research reports. The Goldman Sachs Group reiterated a “neutral” rating and issued a $132.00 price target (down from $142.00) on shares of Prologis in a report on Monday, October 21st. Barclays boosted their target price on shares of Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. Mizuho reduced their price target on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Royal Bank of Canada boosted their price objective on shares of Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a research report on Monday. Finally, BMO Capital Markets cut shares of Prologis from a “market perform” rating to an “underperform” rating and cut their target price for the stock from $120.00 to $104.00 in a report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $128.72.

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.