Ally Financial Inc. Buys 4,000 Shares of Prologis, Inc. $PLD

Key Points

• Ally Financial Inc. increased its ownership of Prologis, Inc. by 16.7% in Q1, now holding 28,000 shares valued at approximately $3.13 million.
• Prologis reported $1.46 earnings per share for the last quarter, exceeding analyst expectations and showing an 8.8% revenue increase year-over-year.
• Institutional investors hold 93.50% of Prologis stock, indicating strong confidence from major stakeholders in the real estate investment trust.

Ally Financial Inc. lifted its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 16.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,000 shares of the real estate investment trust's stock after purchasing an additional 4,000 shares during the period. Ally Financial Inc.'s holdings in Prologis were worth $3,130,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Nuveen LLC purchased a new position in shares of Prologis during the first quarter valued at $1,456,768,000. Northern Trust Corp grew its stake in Prologis by 54.6% in the fourth quarter. Northern Trust Corp now owns 13,855,339 shares of the real estate investment trust's stock valued at $1,464,509,000 after purchasing an additional 4,893,284 shares in the last quarter. Valeo Financial Advisors LLC grew its stake in Prologis by 282.5% in the first quarter. Valeo Financial Advisors LLC now owns 3,875,386 shares of the real estate investment trust's stock valued at $433,229,000 after purchasing an additional 2,862,183 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its stake in Prologis by 83.8% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,779,830 shares of the real estate investment trust's stock valued at $399,528,000 after purchasing an additional 1,723,129 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Prologis in the fourth quarter valued at about $163,970,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Prologis

In other news, CAO Lori A. Palazzolo sold 25,000 shares of the business's stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $111.33, for a total value of $2,783,250.00. Following the sale, the chief accounting officer directly owned 414 shares in the company, valued at $46,090.62. The trade was a 98.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.57% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

PLD has been the subject of several recent analyst reports. Wells Fargo & Company set a $137.00 price target on Prologis and gave the stock an "overweight" rating in a research note on Sunday, July 13th. Truist Financial decreased their price target on Prologis from $123.00 to $120.00 and set a "buy" rating for the company in a research note on Monday, May 5th. UBS Group upped their price target on Prologis from $106.00 to $120.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Scotiabank set a $114.00 price objective on Prologis and gave the stock a "sector perform" rating in a research report on Wednesday. Finally, Wall Street Zen cut Prologis from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $121.83.

Prologis Price Performance

Shares of PLD stock traded up $1.37 during trading hours on Wednesday, hitting $112.72. The company had a trading volume of 3,451,426 shares, compared to its average volume of 3,280,849. The firm's fifty day moving average is $107.44 and its 200 day moving average is $108.68. Prologis, Inc. has a 12 month low of $85.35 and a 12 month high of $132.57. The firm has a market capitalization of $104.63 billion, a price-to-earnings ratio of 30.55, a PEG ratio of 2.79 and a beta of 1.21. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.65 and a current ratio of 0.65.

Prologis (NYSE:PLD - Get Free Report) last released its earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 EPS for the quarter, beating the consensus estimate of $1.41 by $0.05. The company had revenue of $2.03 billion during the quarter, compared to analysts' expectations of $2.03 billion. Prologis had a return on equity of 5.96% and a net margin of 40.29%.The business's revenue for the quarter was up 8.8% on a year-over-year basis. During the same period last year, the firm earned $1.34 EPS. Prologis has set its FY 2025 guidance at 5.750-5.800 EPS. On average, sell-side analysts predict that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

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.