Azzad Asset Management Inc. ADV Lowers Position in Prologis, Inc. (NYSE:PLD)

Azzad Asset Management Inc. ADV cut its stake in Prologis, Inc. (NYSE:PLD) by 5.7% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 44,856 shares of the real estate investment trust’s stock after selling 2,717 shares during the quarter. Prologis comprises 0.7% of Azzad Asset Management Inc. ADV’s holdings, making the stock its 27th largest holding. Azzad Asset Management Inc. ADV’s holdings in Prologis were worth $5,841,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of PLD. Optimum Investment Advisors bought a new position in shares of Prologis during the first quarter valued at approximately $26,000. True Wealth Design LLC bought a new position in shares of Prologis during the fourth quarter valued at approximately $27,000. Thompson Investment Management Inc. bought a new position in shares of Prologis during the fourth quarter valued at approximately $28,000. JFS Wealth Advisors LLC increased its stake in shares of Prologis by 254.5% during the fourth quarter. JFS Wealth Advisors LLC now owns 234 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 168 shares in the last quarter. Finally, Clear Investment Research LLC increased its stake in shares of Prologis by 188.1% during the fourth quarter. Clear Investment Research LLC now owns 242 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 158 shares in the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on PLD shares. Robert W. Baird decreased their target price on shares of Prologis from $137.00 to $117.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. Evercore ISI decreased their target price on shares of Prologis from $136.00 to $123.00 and set an “in-line” rating for the company in a research note on Thursday, April 18th. UBS Group reduced their price target on shares of Prologis from $151.00 to $138.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. Barclays reduced their price target on shares of Prologis from $135.00 to $123.00 and set an “overweight” rating for the company in a research report on Monday, April 29th. Finally, Scotiabank reduced their price target on shares of Prologis from $149.00 to $130.00 and set a “sector outperform” rating for the company in a research report on Thursday, May 16th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Prologis has an average rating of “Moderate Buy” and a consensus target price of $129.76.

Prologis Stock Performance

NYSE:PLD traded down $0.11 during trading hours on Wednesday, reaching $113.10. The company had a trading volume of 537,876 shares, compared to its average volume of 3,723,615. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.51. Prologis, Inc. has a 52 week low of $96.64 and a 52 week high of $137.52. The firm has a market cap of $104.71 billion, a price-to-earnings ratio of 33.25, a PEG ratio of 2.50 and a beta of 1.06. The firm’s 50 day moving average price is $108.46 and its 200-day moving average price is $121.45.

Prologis Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 17th were given a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date of this dividend was Monday, June 17th. Prologis’s dividend payout ratio (DPR) is presently 112.28%.

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.