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

Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew 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 SEC. The fund owned 4,998 shares of the real estate investment trust’s stock after acquiring an additional 584 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Prologis were worth $528,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in PLD. Stablepoint Partners LLC raised its holdings in Prologis by 4.7% during the fourth quarter. Stablepoint Partners LLC now owns 17,309 shares of the real estate investment trust’s stock worth $1,830,000 after purchasing an additional 775 shares in the last quarter. Jamison Private Wealth Management Inc. raised its stake in Prologis by 32.2% during the 4th quarter. Jamison Private Wealth Management Inc. now owns 2,506 shares of the real estate investment trust’s stock worth $265,000 after acquiring an additional 610 shares in the last quarter. First Citizens Bank & Trust Co. lifted its position in Prologis by 8.3% in the fourth quarter. First Citizens Bank & Trust Co. now owns 2,010 shares of the real estate investment trust’s stock valued at $212,000 after acquiring an additional 154 shares during the last quarter. Advocate Group LLC boosted its stake in Prologis by 1.1% in the fourth quarter. Advocate Group LLC now owns 36,198 shares of the real estate investment trust’s stock valued at $3,826,000 after acquiring an additional 398 shares in the last quarter. Finally, Lantz Financial LLC grew its holdings in shares of Prologis by 18.9% during the fourth quarter. Lantz Financial LLC now owns 2,128 shares of the real estate investment trust’s stock worth $225,000 after purchasing an additional 339 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analyst Upgrades and Downgrades

PLD has been the subject of a number of research analyst reports. UBS Group upped their target price on Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a research report on Tuesday. Scotiabank decreased their price objective on Prologis from $134.00 to $133.00 and set a “sector outperform” rating for the company in a report on Monday. Wolfe Research cut their target price on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. The Goldman Sachs Group reissued a “neutral” rating and set a $132.00 price objective (down from $142.00) on shares of Prologis in a research report on Monday, October 21st. Finally, Baird R W raised shares of Prologis from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $128.72.

Prologis Price Performance

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

Prologis Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders 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 yield of 3.22%. Prologis’s payout ratio is currently 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.