Empirical Asset Management LLC Boosts Holdings in Prologis, Inc. (NYSE:PLD)

Empirical Asset Management LLC lifted its holdings in Prologis, Inc. (NYSE:PLD) by 339.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 68,584 shares of the real estate investment trust’s stock after acquiring an additional 52,963 shares during the quarter. Empirical Asset Management LLC’s holdings in Prologis were worth $7,249,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in PLD. State Street Corp lifted its stake in Prologis by 1.4% in the third quarter. State Street Corp now owns 57,413,342 shares of the real estate investment trust’s stock worth $7,250,157,000 after purchasing an additional 767,609 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Prologis by 0.9% in the third quarter. Geode Capital Management LLC now owns 20,761,980 shares of the real estate investment trust’s stock worth $2,612,395,000 after buying an additional 194,472 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Prologis by 4.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 10,229,200 shares of the real estate investment trust’s stock worth $1,291,743,000 after buying an additional 441,841 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Prologis by 534.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,143,554 shares of the real estate investment trust’s stock valued at $1,280,928,000 after acquiring an additional 8,545,336 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its holdings in Prologis by 12.7% during the 2nd quarter. Canada Pension Plan Investment Board now owns 4,237,322 shares of the real estate investment trust’s stock valued at $475,894,000 after acquiring an additional 477,785 shares during the period. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on PLD shares. BMO Capital Markets cut Prologis from a “market perform” rating to an “underperform” rating and decreased their price target for the stock from $120.00 to $104.00 in a research note on Friday, December 6th. Robert W. Baird upgraded shares of Prologis from a “neutral” rating to an “outperform” rating and cut their target price for the stock from $124.00 to $123.00 in a report on Monday, January 6th. Mizuho decreased their target price on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Baird R W raised shares of Prologis from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Finally, Barclays boosted their price objective on shares of Prologis from $131.00 to $132.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $129.06.

Prologis Stock Up 2.9 %

Shares of NYSE:PLD opened at $111.00 on Friday. The firm has a market capitalization of $102.80 billion, a P/E ratio of 33.53, a P/E/G ratio of 2.85 and a beta of 1.09. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43. The stock has a 50 day moving average price of $110.53 and a 200-day moving average price of $118.36. Prologis, Inc. has a 52-week low of $100.82 and a 52-week high of $135.76.

Prologis (NYSE:PLD) last posted its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.29). Prologis had a return on equity of 5.34% and a net margin of 39.08%. The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter last year, the company posted $1.30 EPS. Prologis’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Prologis, Inc. will post 5.45 EPS for the current fiscal year.

Prologis Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were given a dividend of $0.96 per share. The ex-dividend date was Monday, December 16th. This represents a $3.84 dividend on an annualized basis and a yield of 3.46%. Prologis’s dividend payout ratio (DPR) is currently 116.01%.

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.