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

Prologis logo with Finance background

Key Points

  • Empirical Financial Services LLC increased its stake in Prologis, Inc. by 107.3% in the first quarter, reaching a total of 10,361 shares valued at $1,158,000.
  • Several institutional investors have also increased their holdings in Prologis, contributing to institutional ownership of 93.50%.
  • Analysts have mixed ratings on Prologis, with a consensus of "Moderate Buy" and an average price target of $120.74, despite recent price target reductions from various firms.
  • MarketBeat previews top five stocks to own in September.

Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in Prologis, Inc. (NYSE:PLD - Free Report) by 107.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,361 shares of the real estate investment trust's stock after purchasing an additional 5,363 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management's holdings in Prologis were worth $1,158,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. REAP Financial Group LLC raised its position in shares of Prologis by 40.0% in the fourth quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust's stock worth $31,000 after acquiring an additional 84 shares during the period. Olde Wealth Management LLC purchased a new stake in shares of Prologis in the 1st quarter valued at approximately $43,000. Cornerstone Planning Group LLC grew its stake in shares of Prologis by 63.6% in the 1st quarter. Cornerstone Planning Group LLC now owns 391 shares of the real estate investment trust's stock valued at $44,000 after buying an additional 152 shares during the period. Missouri Trust & Investment Co grew its stake in shares of Prologis by 59.6% in the 1st quarter. Missouri Trust & Investment Co now owns 399 shares of the real estate investment trust's stock valued at $45,000 after buying an additional 149 shares during the period. Finally, Bogart Wealth LLC lifted its holdings in shares of Prologis by 56.2% in the 1st quarter. Bogart Wealth LLC now owns 417 shares of the real estate investment trust's stock worth $47,000 after acquiring an additional 150 shares during the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Prologis Trading Down 1.7%

PLD stock traded down $1.86 on Friday, hitting $104.92. 6,122,816 shares of the company were exchanged, compared to its average volume of 4,686,173. Prologis, Inc. has a twelve month low of $85.35 and a twelve month high of $132.57. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.65 and a quick ratio of 0.65. The business's fifty day moving average is $107.57 and its two-hundred day moving average is $109.81. The stock has a market capitalization of $97.37 billion, a price-to-earnings ratio of 28.43, a price-to-earnings-growth ratio of 2.63 and a beta of 1.21.

Prologis (NYSE:PLD - Get Free Report) last released its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.05. The company had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.03 billion. Prologis had a net margin of 40.29% and a return on equity of 5.96%. The business's quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.34 earnings per share. As a group, research analysts forecast that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Tuesday, June 17th were paid a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date was Tuesday, June 17th. Prologis's dividend payout ratio is 109.49%.

Wall Street Analysts Forecast Growth

PLD has been the topic of a number of research reports. Citigroup reduced their target price on shares of Prologis from $150.00 to $140.00 and set a "buy" rating on the stock in a report on Wednesday, July 23rd. Evercore ISI dropped their price objective on shares of Prologis from $111.00 to $106.00 and set an "in-line" rating on the stock in a research note on Thursday, April 17th. Wall Street Zen lowered shares of Prologis from a "hold" rating to a "sell" rating in a research note on Saturday, June 14th. Barclays dropped their price target on shares of Prologis from $132.00 to $119.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 30th. Finally, Wolfe Research downgraded shares of Prologis from an "outperform" rating to a "peer perform" rating in a report on Monday, April 21st. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $120.74.

Check Out Our Latest Report on Prologis

About Prologis

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Prologis (NYSE:PLD)

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