Azzad Asset Management Inc. ADV Has $4.07 Million Position in Prologis, Inc. (NYSE:PLD)

Azzad Asset Management Inc. ADV lessened its holdings in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 11.6% during the 4th quarter, according to its most recent disclosure with the SEC. The fund 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 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in PLD. Norges Bank bought a new stake in shares of Prologis during the fourth quarter worth $951,263,000. Northern Trust Corp grew its holdings in shares of Prologis by 54.6% during the fourth quarter. Northern Trust Corp now owns 13,855,339 shares of the real estate investment trust's stock worth $1,464,509,000 after purchasing an additional 4,893,284 shares during the last quarter. Capital Research Global Investors grew its holdings in shares of Prologis by 25.4% during the fourth quarter. Capital Research Global Investors now owns 12,345,523 shares of the real estate investment trust's stock worth $1,304,922,000 after purchasing an additional 2,500,761 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Prologis during the fourth quarter valued at $254,876,000. Finally, FMR LLC lifted its stake in shares of Prologis by 11.7% during the fourth quarter. FMR LLC now owns 17,878,397 shares of the real estate investment trust's stock valued at $1,889,747,000 after acquiring an additional 1,875,978 shares during the period. Institutional investors own 93.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PLD. Royal Bank of Canada cut their price target on Prologis from $128.00 to $117.00 and set a "sector perform" rating on the stock in a research note on Tuesday, April 29th. Barclays cut their price target on Prologis from $132.00 to $119.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 30th. Morgan Stanley cut their price target on Prologis to $120.00 and set an "outperform" rating on the stock in a research note on Monday, April 14th. Truist Financial cut their price target on Prologis from $123.00 to $120.00 and set a "buy" rating on the stock in a research note on Monday, May 5th. Finally, CJS Securities cut their price target on Prologis from $140.00 to $117.00 in a research note on Friday, April 11th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $120.42.

Prologis Stock Down 0.5%

Shares of NYSE PLD traded down $0.59 during mid-day trading on Friday, reaching $108.64. 7,261,566 shares of the company's stock were exchanged, compared to its average volume of 4,208,603. The firm has a market capitalization of $100.81 billion, a price-to-earnings ratio of 27.16, a PEG ratio of 2.70 and a beta of 1.25. The company has a current ratio of 0.75, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. The business has a fifty day simple moving average of $103.94 and a 200 day simple moving average of $110.63. Prologis, Inc. has a twelve month low of $85.35 and a twelve month high of $132.57.

Prologis (NYSE:PLD - Get Free Report) last released its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 EPS for the quarter, topping analysts' consensus estimates of $1.38 by $0.04. The company 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%. As a group, equities analysts expect that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th will be given a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date of this dividend is Tuesday, June 17th. Prologis's dividend payout ratio is currently 101.00%.

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.