Prologis, Inc. (NYSE:PLD) Holdings Decreased by Azzad Asset Management Inc. ADV

Azzad Asset Management Inc. ADV reduced its stake in shares of Prologis, Inc. (NYSE:PLD) by 11.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 38,489 shares of the real estate investment trust’s stock after selling 5,059 shares during the period. Azzad Asset Management Inc. ADV’s holdings in Prologis were worth $4,068,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Prologis during the fourth quarter valued at $26,000. Crowley Wealth Management Inc. acquired a new position in Prologis during the 4th quarter worth $27,000. Centricity Wealth Management LLC acquired a new position in Prologis during the 4th quarter worth $30,000. REAP Financial Group LLC raised its position in shares of Prologis by 40.0% during the fourth quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 84 shares during the last quarter. Finally, Promus Capital LLC bought a new stake in Prologis in the fourth quarter valued at about $34,000. 93.50% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PLD has been the topic of several research analyst reports. Barclays decreased their price objective on shares of Prologis from $132.00 to $119.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 30th. Mizuho reduced their price objective on shares of Prologis from $117.00 to $105.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Raymond James reiterated a “market perform” rating on shares of Prologis in a report on Monday, February 3rd. UBS Group raised their price objective on shares of Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Finally, Scotiabank raised their target price on shares of Prologis from $97.00 to $100.00 and gave the company a “sector underperform” rating in a research report on Monday, May 12th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Prologis has an average rating of “Moderate Buy” and an average price target of $120.42.

Prologis Price Performance

PLD stock opened at $104.13 on Monday. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.75 and a quick ratio of 0.43. The firm has a market capitalization of $96.62 billion, a P/E ratio of 26.03, a P/E/G ratio of 2.70 and a beta of 1.25. The business’s 50-day moving average is $104.26 and its two-hundred day moving average is $110.82. Prologis, Inc. has a 1 year low of $85.35 and a 1 year high of $132.57.

Prologis (NYSE:PLD) last issued its earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.04. The business had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.99 billion. Prologis had a return on equity of 6.44% and a net margin of 45.50%. Analysts anticipate that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Tuesday, June 17th will be paid a $1.01 dividend. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.88%. Prologis’s dividend payout ratio (DPR) is presently 101.00%.

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.