Empirical Financial Services LLC d.b.a. Empirical Wealth Management Purchases 369 Shares of Prologis, Inc. (NYSE:PLD)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its stake in shares of Prologis, Inc. (NYSE:PLD) by 6.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,553 shares of the real estate investment trust’s stock after acquiring an additional 369 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Prologis were worth $874,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PLD. Columbia Trust Co 01012016 raised its position in shares of Prologis by 16.0% in the 4th quarter. Columbia Trust Co 01012016 now owns 5,240 shares of the real estate investment trust’s stock worth $698,000 after acquiring an additional 723 shares in the last quarter. Cyndeo Wealth Partners LLC boosted its position in Prologis by 39.4% in the fourth quarter. Cyndeo Wealth Partners LLC now owns 42,005 shares of the real estate investment trust’s stock worth $5,599,000 after purchasing an additional 11,882 shares during the last quarter. DNB Asset Management AS grew its position in shares of Prologis by 17.1% during the 4th quarter. DNB Asset Management AS now owns 287,505 shares of the real estate investment trust’s stock valued at $38,324,000 after acquiring an additional 42,073 shares during the period. Grassi Investment Management lifted its holdings in Prologis by 31.8% during the fourth quarter. Grassi Investment Management now owns 252,146 shares of the real estate investment trust’s stock valued at $33,611,000 after purchasing an additional 60,900 shares during the last quarter. Finally, Desjardins Global Asset Management Inc. boosted its holdings in shares of Prologis by 255.0% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 16,124 shares of the real estate investment trust’s stock worth $2,149,000 after acquiring an additional 11,582 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on PLD. Morgan Stanley increased their target price on Prologis from $128.00 to $141.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th. Mizuho restated a “neutral” rating and issued a $130.00 price objective on shares of Prologis in a report on Tuesday, April 2nd. Robert W. Baird cut their price objective on shares of Prologis from $137.00 to $117.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. Evercore ISI lowered their price target on Prologis from $136.00 to $123.00 and set an “in-line” rating on the stock in a report on Thursday, April 18th. Finally, TheStreet raised shares of Prologis from a “c+” rating to a “b-” rating in a research report on Friday, January 26th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Prologis presently has an average rating of “Moderate Buy” and a consensus price target of $131.12.

Prologis Trading Down 0.4 %

PLD traded down $0.48 on Wednesday, hitting $107.28. 804,501 shares of the company were exchanged, compared to its average volume of 3,534,203. The firm has a fifty day simple moving average of $121.06 and a two-hundred day simple moving average of $121.90. Prologis, Inc. has a 12 month low of $96.64 and a 12 month high of $137.52. The stock has a market capitalization of $99.32 billion, a PE ratio of 31.52, a price-to-earnings-growth ratio of 2.20 and a beta of 1.05. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.29 and a current ratio of 0.29.

Prologis Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 18th were issued a dividend of $0.96 per share. This is a positive change from Prologis’s previous quarterly dividend of $0.87. This represents a $3.84 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date was Friday, March 15th. Prologis’s dividend payout ratio (DPR) is 112.28%.

Prologis Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 31, 2023, 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.