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 position in shares of Prologis, Inc. (NYSE:PLD) by 6.0% in the 4th quarter, HoldingsChannel reports. The firm owned 6,553 shares of the real estate investment trust’s stock after buying 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.

Several other large investors have also recently added to or reduced their stakes in PLD. Thompson Investment Management Inc. acquired a new position in Prologis during the 4th quarter worth about $28,000. Salem Investment Counselors Inc. acquired a new position in Prologis during the 4th quarter valued at about $37,000. FNY Investment Advisers LLC bought a new position in Prologis in the fourth quarter valued at approximately $39,000. Webster Bank N. A. raised its position in shares of Prologis by 3,600.0% during the 4th quarter. Webster Bank N. A. now owns 333 shares of the real estate investment trust’s stock valued at $44,000 after acquiring an additional 324 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new position in shares of Prologis during the 4th quarter worth about $45,000. 93.50% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. TheStreet upgraded shares of Prologis from a “c+” rating to a “b-” rating in a report on Friday, January 26th. Morgan Stanley upped their price target on shares of Prologis from $128.00 to $141.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th. Robert W. Baird decreased their price objective on shares of Prologis from $137.00 to $117.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. JPMorgan Chase & Co. dropped their target price on Prologis from $143.00 to $128.00 and set an “overweight” rating for the company in a research report on Thursday, April 25th. Finally, The Goldman Sachs Group decreased their price objective on Prologis from $163.00 to $140.00 and set a “buy” rating for the company in a report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, four have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $131.12.

Prologis Stock Performance

Prologis stock traded down $0.48 during midday trading on Wednesday, reaching $107.28. 804,501 shares of the stock traded hands, compared to its average volume of 3,534,203. The firm has a market cap of $99.32 billion, a price-to-earnings ratio of 31.52, a PEG ratio of 2.20 and a beta of 1.05. The firm has a fifty day moving average price of $121.06 and a two-hundred day moving average price of $121.90. Prologis, Inc. has a fifty-two week low of $96.64 and a fifty-two week high of $137.52. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.51.

Prologis Increases Dividend

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

Prologis Company 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.