South Plains Financial Inc. Makes New Investment in Prologis, Inc. (NYSE:PLD)

South Plains Financial Inc. acquired a new stake in Prologis, Inc. (NYSE:PLD - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,586 shares of the real estate investment trust's stock, valued at approximately $379,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Murphy & Mullick Capital Management Corp bought a new position in Prologis during the 4th quarter worth approximately $26,000. Crowley Wealth Management Inc. acquired a new stake in Prologis during the 4th quarter worth $27,000. Centricity Wealth Management LLC acquired a new position in Prologis in the fourth quarter valued at about $30,000. Promus Capital LLC acquired a new position in shares of Prologis in the 4th quarter valued at approximately $34,000. Finally, Whipplewood Advisors LLC acquired a new stake in Prologis during the 4th quarter worth approximately $34,000. Institutional investors own 93.50% of the company's stock.

Prologis Price Performance

PLD traded up $0.87 during trading on Wednesday, reaching $105.37. The stock had a trading volume of 829,458 shares, compared to its average volume of 4,133,512. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75. The business has a 50-day moving average of $106.98 and a 200-day moving average of $111.64. Prologis, Inc. has a one year low of $85.35 and a one year high of $132.57. The stock has a market cap of $97.78 billion, a PE ratio of 26.35, a PEG ratio of 2.70 and a beta of 1.25.

Prologis (NYSE:PLD - Get Free Report) last issued its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 EPS for the quarter, beating analysts' consensus estimates of $1.38 by $0.04. Prologis had a net margin of 45.50% and a return on equity of 6.44%. The business had revenue of $1.99 billion for the quarter, compared to analysts' expectations of $1.99 billion. As a group, equities research analysts anticipate that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th were paid a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date of this dividend was Tuesday, March 18th. This is a positive change from Prologis's previous quarterly dividend of $0.96. Prologis's payout ratio is 101.00%.

Analysts Set New Price Targets

Several research firms recently commented on PLD. Robert W. Baird boosted their price objective on shares of Prologis from $123.00 to $124.00 and gave the company an "outperform" rating in a research report on Thursday, January 30th. Evercore ISI cut their target price on Prologis from $111.00 to $106.00 and set an "in-line" rating on the stock in a research note on Thursday, April 17th. Morgan Stanley decreased their price target on shares of Prologis to $120.00 and set an "outperform" rating for the company in a research note on Monday, April 14th. Scotiabank reissued a "sector underperform" rating and issued a $97.00 price objective (down previously from $133.00) on shares of Prologis in a research report on Monday, April 7th. Finally, UBS Group lifted their target price on Prologis from $121.00 to $137.00 and gave the company a "buy" rating in a research report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, eight 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.com, Prologis presently has a consensus rating of "Moderate Buy" and an average price target of $121.89.

About Prologis

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.