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

Ally Financial Inc. acquired a new position in shares of Prologis, Inc. (NYSE:PLD - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 24,000 shares of the real estate investment trust's stock, valued at approximately $2,537,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Empirical Asset Management LLC boosted its holdings in shares of Prologis by 339.0% in the 4th quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust's stock worth $7,249,000 after acquiring an additional 52,963 shares in the last quarter. Cardano Risk Management B.V. boosted its stake in Prologis by 2.9% in the fourth quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust's stock worth $94,391,000 after purchasing an additional 25,266 shares in the last quarter. Aviva PLC increased its stake in shares of Prologis by 36.6% in the fourth quarter. Aviva PLC now owns 695,187 shares of the real estate investment trust's stock valued at $73,481,000 after buying an additional 186,187 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Prologis by 29.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 784,360 shares of the real estate investment trust's stock worth $82,907,000 after buying an additional 179,880 shares in the last quarter. Finally, Allstate Corp grew its stake in shares of Prologis by 111.7% during the fourth quarter. Allstate Corp now owns 74,518 shares of the real estate investment trust's stock valued at $7,877,000 after purchasing an additional 39,321 shares during the last quarter. Institutional investors own 93.50% of the company's stock.

Wall Street Analyst Weigh In

PLD has been the topic of several recent research reports. BMO Capital Markets decreased their price target on Prologis from $105.00 to $95.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. Morgan Stanley lowered their price target on Prologis to $120.00 and set an "outperform" rating for the company in a research note on Monday, April 14th. BNP Paribas raised shares of Prologis to a "strong-buy" rating in a research note on Wednesday, January 22nd. Royal Bank of Canada lifted their price target on shares of Prologis from $125.00 to $128.00 and gave the stock a "sector perform" rating in a research report on Monday, January 27th. Finally, Scotiabank reiterated a "sector underperform" rating and set a $97.00 target price (down from $133.00) on shares of Prologis in a report on Monday, April 7th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $123.32.

Prologis Stock Performance

Shares of NYSE PLD traded up $1.97 during mid-day trading on Tuesday, reaching $100.60. 1,369,916 shares of the company were exchanged, compared to its average volume of 4,792,522. Prologis, Inc. has a twelve month low of $85.35 and a twelve month high of $132.57. The stock has a market capitalization of $93.26 billion, a P/E ratio of 25.15, a P/E/G ratio of 2.70 and a beta of 1.20. The company's 50-day simple moving average is $111.02 and its 200-day simple moving average is $112.96. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53.

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

Prologis Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th were given a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 4.02%. The ex-dividend date was Tuesday, March 18th. This is a boost from Prologis's previous quarterly dividend of $0.96. Prologis's payout ratio is presently 101.00%.

Insider Activity at Prologis

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the transaction, the executive now owns 7,977 shares in the company, valued at $947,188.98. This represents a 57.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.57% of the stock is currently owned by corporate insiders.

Prologis Company 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.