Platform Technology Partners Purchases 16,647 Shares of Prologis, Inc. $PLD

Platform Technology Partners lifted its position in Prologis, Inc. (NYSE:PLD) by 782.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,774 shares of the real estate investment trust’s stock after acquiring an additional 16,647 shares during the quarter. Platform Technology Partners’ holdings in Prologis were worth $2,150,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Clayton Financial Group LLC bought a new position in shares of Prologis during the third quarter valued at approximately $26,000. Silver Oak Securities Incorporated bought a new position in shares of Prologis in the 3rd quarter worth $36,000. Barrett & Company Inc. purchased a new stake in shares of Prologis during the 2nd quarter worth $44,000. Twin Peaks Wealth Advisors LLC bought a new stake in Prologis during the second quarter valued at about $44,000. Finally, SJS Investment Consulting Inc. purchased a new position in Prologis in the third quarter valued at about $44,000. 93.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on PLD. UBS Group raised their price target on shares of Prologis from $137.00 to $144.00 and gave the company a “buy” rating in a report on Thursday, January 8th. Evercore ISI lifted their price target on shares of Prologis from $116.00 to $118.00 in a report on Monday, December 22nd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Prologis in a research report on Monday, December 29th. BMO Capital Markets upgraded Prologis from an “underperform” rating to a “market perform” rating and set a $119.00 price objective for the company in a report on Monday, October 20th. Finally, Baird R W downgraded Prologis from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $133.00.

Prologis Trading Up 0.3%

NYSE PLD opened at $133.21 on Tuesday. Prologis, Inc. has a 12-month low of $85.35 and a 12-month high of $134.94. The company has a fifty day simple moving average of $128.03 and a two-hundred day simple moving average of $118.74. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.62. The stock has a market cap of $123.74 billion, a P/E ratio of 38.84, a P/E/G ratio of 3.91 and a beta of 1.40.

Prologis (NYSE:PLD) last issued its earnings results on Tuesday, October 28th. The real estate investment trust reported $0.82 earnings per share (EPS) for the quarter. The company had revenue of $2.21 billion during the quarter. Prologis had a return on equity of 5.55% and a net margin of 36.71%. On average, analysts forecast that Prologis, Inc. will post 5.73 earnings per share for the current year.

Prologis Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th were given a $1.01 dividend. The ex-dividend date was Tuesday, December 16th. This represents a $4.04 dividend on an annualized basis and a yield of 3.0%. Prologis’s dividend payout ratio is currently 117.78%.

Insider Buying and Selling

In related news, Director Cristina Gabriela Bita sold 621 shares of the stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $127.60, for a total value of $79,239.60. Following the transaction, the director owned 8,208 shares in the company, valued at approximately $1,047,340.80. This represents a 7.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James B. Connor sold 80,000 shares of the firm’s stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $126.58, for a total transaction of $10,126,400.00. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 81,121 shares of company stock worth $10,267,210. 0.57% of the stock is owned by insiders.

Prologis Company Profile

Prologis, Inc is a real estate investment trust (REIT) specializing in logistics and distribution facilities. The company focuses on acquiring, developing, and managing high-quality industrial real estate assets that support supply chain infrastructure for third-party logistics providers, e-commerce businesses, retailers and manufacturers. Its portfolio primarily consists of warehouse and distribution centers designed to optimize goods movement and storage near key transportation hubs.

With a global presence, Prologis serves customers across the Americas, Europe and Asia Pacific.