Azzad Asset Management Inc. ADV Sells 2,717 Shares of Prologis, Inc. (NYSE:PLD)

Azzad Asset Management Inc. ADV trimmed its position in Prologis, Inc. (NYSE:PLD) by 5.7% in the first quarter, according to its most recent filing with the SEC. The fund owned 44,856 shares of the real estate investment trust’s stock after selling 2,717 shares during the period. Prologis accounts for approximately 0.7% of Azzad Asset Management Inc. ADV’s investment portfolio, making the stock its 27th biggest position. Azzad Asset Management Inc. ADV’s holdings in Prologis were worth $5,841,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Columbia Trust Co 01012016 raised its position in Prologis by 16.0% during the 4th quarter. Columbia Trust Co 01012016 now owns 5,240 shares of the real estate investment trust’s stock worth $698,000 after purchasing an additional 723 shares during the last quarter. Janney Capital Management LLC raised its position in Prologis by 18.8% during the 4th quarter. Janney Capital Management LLC now owns 23,872 shares of the real estate investment trust’s stock worth $3,182,000 after purchasing an additional 3,773 shares during the last quarter. Cyndeo Wealth Partners LLC raised its position in Prologis by 39.4% during the 4th quarter. Cyndeo Wealth Partners LLC now owns 42,005 shares of the real estate investment trust’s stock worth $5,599,000 after purchasing an additional 11,882 shares during the last quarter. Atalanta Sosnoff Capital LLC bought a new position in Prologis during the 4th quarter worth $18,551,000. Finally, DNB Asset Management AS raised its position in Prologis by 17.1% during the 4th quarter. DNB Asset Management AS now owns 287,505 shares of the real estate investment trust’s stock worth $38,324,000 after purchasing an additional 42,073 shares during the last quarter. 93.50% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on PLD. BMO Capital Markets lowered Prologis from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $145.00 to $112.00 in a research report on Monday, April 22nd. Argus decreased their price target on Prologis from $139.00 to $120.00 and set a “buy” rating for the company in a report on Monday, April 22nd. Robert W. Baird decreased their price target on Prologis from $137.00 to $117.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. JPMorgan Chase & Co. decreased their price target on Prologis from $143.00 to $128.00 and set an “overweight” rating for the company in a report on Thursday, April 25th. Finally, UBS Group decreased their price target on Prologis from $151.00 to $138.00 and set a “buy” rating for the company in a report on Thursday, April 18th. One research analyst has rated the stock with a sell rating, four have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $129.76.

Prologis Stock Down 0.1 %

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

Prologis Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 17th were given a $0.96 dividend. The ex-dividend date was Monday, June 17th. This represents a $3.84 annualized dividend and a yield of 3.40%. Prologis’s payout ratio is 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.