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

Azzad Asset Management Inc. ADV trimmed its position in shares of Prologis, Inc. (NYSE:PLD) by 0.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 43,464 shares of the real estate investment trust’s stock after selling 84 shares during the quarter. Prologis makes up about 1.2% of Azzad Asset Management Inc. ADV’s portfolio, making the stock its 16th biggest position. Azzad Asset Management Inc. ADV’s holdings in Prologis were worth $4,594,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Prologis by 534.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,143,554 shares of the real estate investment trust’s stock worth $1,280,928,000 after acquiring an additional 8,545,336 shares in the last quarter. Janus Henderson Group PLC grew its stake in Prologis by 145.0% in the 3rd quarter. Janus Henderson Group PLC now owns 3,613,494 shares of the real estate investment trust’s stock worth $456,320,000 after acquiring an additional 2,138,693 shares in the last quarter. AMF Tjanstepension AB grew its stake in Prologis by 267.9% in the 3rd quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust’s stock worth $236,879,000 after acquiring an additional 1,365,811 shares in the last quarter. Cardano Risk Management B.V. bought a new position in Prologis in the 3rd quarter worth about $109,579,000. Finally, Jennison Associates LLC grew its stake in Prologis by 395.3% in the 4th quarter. Jennison Associates LLC now owns 1,039,333 shares of the real estate investment trust’s stock worth $109,858,000 after acquiring an additional 829,504 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors.

Insider Activity at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of the firm’s stock in a transaction 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 sale, the executive now owns 7,977 shares in the company, valued at approximately $947,188.98. This trade represents a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.56% of the stock is owned by company insiders.

Analyst Ratings Changes

PLD has been the topic of a number of research analyst reports. Royal Bank of Canada upped their target price on shares of Prologis from $125.00 to $128.00 and gave the stock a “sector perform” rating in a research note on Monday, January 27th. Scotiabank dropped their price objective on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a research note on Monday, January 27th. Truist Financial increased their price objective on shares of Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a research note on Monday, January 27th. BNP Paribas upgraded shares of Prologis to a “strong-buy” rating in a research note on Wednesday, January 22nd. Finally, UBS Group increased their price objective on shares of Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Prologis currently has an average rating of “Moderate Buy” and a consensus target price of $128.78.

Prologis Trading Up 1.9 %

Shares of Prologis stock opened at $121.76 on Wednesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.23 and a quick ratio of 0.43. The firm has a fifty day moving average price of $111.19 and a 200 day moving average price of $118.14. Prologis, Inc. has a 1 year low of $100.82 and a 1 year high of $135.76. The stock has a market cap of $112.77 billion, a PE ratio of 30.44, a price-to-earnings-growth ratio of 2.64 and a beta of 1.10.

Prologis Dividend Announcement

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

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.