Azzad Asset Management Inc. ADV Sells 84 Shares of Prologis, Inc. (NYSE:PLD)

Azzad Asset Management Inc. ADV lowered its position in shares of Prologis, Inc. (NYSE:PLD) by 0.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,464 shares of the real estate investment trust’s stock after selling 84 shares during the period. Prologis makes up approximately 1.2% of Azzad Asset Management Inc. ADV’s portfolio, making the stock its 16th largest position. Azzad Asset Management Inc. ADV’s holdings in Prologis were worth $4,594,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Dunhill Financial LLC grew its position in Prologis by 239.5% in the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 182 shares during the period. Hara Capital LLC bought a new stake in Prologis in the 3rd quarter worth approximately $48,000. Coastline Trust Co bought a new stake in Prologis in the 3rd quarter worth approximately $52,000. Fortitude Family Office LLC grew its position in Prologis by 120.6% in the 3rd quarter. Fortitude Family Office LLC now owns 439 shares of the real estate investment trust’s stock worth $55,000 after purchasing an additional 240 shares during the period. Finally, Hanson & Doremus Investment Management grew its position in Prologis by 42.2% in the 4th quarter. Hanson & Doremus Investment Management now owns 623 shares of the real estate investment trust’s stock worth $66,000 after purchasing an additional 185 shares during the period. Institutional investors own 93.50% of the company’s stock.

Prologis Stock Up 1.9 %

Shares of PLD stock opened at $121.76 on Wednesday. The stock has a market cap of $112.77 billion, a P/E ratio of 30.44, a PEG ratio of 2.64 and a beta of 1.10. Prologis, Inc. has a 52 week low of $100.82 and a 52 week high of $135.76. The company has a quick ratio of 0.43, a current ratio of 0.23 and a debt-to-equity ratio of 0.53. The company’s fifty day simple moving average is $111.19 and its two-hundred day simple moving average is $118.14.

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were given a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 3.15%. The ex-dividend date was Monday, December 16th. Prologis’s dividend payout ratio is 96.00%.

Wall Street Analyst Weigh In

A number of research firms have commented on PLD. BTIG Research cut their target price on shares of Prologis from $154.00 to $134.00 and set a “buy” rating for the company in a research report on Friday, January 17th. 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. UBS Group boosted their price objective on shares of Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Truist Financial boosted their price objective on shares of Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Finally, BMO Capital Markets downgraded shares of Prologis from a “market perform” rating to an “underperform” rating and cut their price objective for the company from $120.00 to $104.00 in a research report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Prologis has an average rating of “Moderate Buy” and a consensus price target of $128.78.

Insider Activity

In other news, CIO Joseph Ghazal sold 10,997 shares of the company’s stock in a transaction dated 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 sale, the executive now directly owns 7,977 shares in the company, valued at approximately $947,188.98. This represents a 57.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.56% of the company’s stock.

Prologis 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.