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

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

Several other hedge funds also recently bought and sold shares of the company. Ignite Planners LLC raised its holdings in Prologis by 3.2% during the third quarter. Ignite Planners LLC now owns 2,937 shares of the real estate investment trust’s stock valued at $336,000 after acquiring an additional 92 shares during the period. ORG Partners LLC grew its position in shares of Prologis by 3.3% during the third quarter. ORG Partners LLC now owns 2,867 shares of the real estate investment trust’s stock worth $328,000 after purchasing an additional 92 shares in the last quarter. Stratos Wealth Partners LTD. raised its stake in Prologis by 0.7% during the 2nd quarter. Stratos Wealth Partners LTD. now owns 13,678 shares of the real estate investment trust’s stock valued at $1,438,000 after purchasing an additional 93 shares during the period. Stableford Capital II LLC lifted its holdings in Prologis by 0.4% in the 3rd quarter. Stableford Capital II LLC now owns 21,090 shares of the real estate investment trust’s stock worth $2,415,000 after purchasing an additional 94 shares in the last quarter. Finally, Palogic Value Management L.P. lifted its holdings in Prologis by 4.7% in the 2nd quarter. Palogic Value Management L.P. now owns 2,130 shares of the real estate investment trust’s stock worth $224,000 after purchasing an additional 96 shares in the last quarter. Institutional investors own 93.50% of the company’s stock.

Prologis Stock Up 0.3%

NYSE PLD opened at $133.21 on Tuesday. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.62. The company has a fifty day moving average of $128.03 and a two-hundred day moving average of $118.74. The firm has a market capitalization of $123.74 billion, a price-to-earnings ratio of 38.84, a PEG ratio of 3.91 and a beta of 1.40. Prologis, Inc. has a 52 week low of $85.35 and a 52 week high of $134.94.

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

Prologis Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th were paid a $1.01 dividend. The ex-dividend date of this dividend was Tuesday, December 16th. This represents a $4.04 annualized dividend and a yield of 3.0%. Prologis’s dividend payout ratio (DPR) is presently 117.78%.

Analysts Set New Price Targets

PLD has been the subject of several research reports. Baird R W downgraded shares of Prologis from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 8th. Industrial Alliance Securities set a $119.00 target price on shares of Prologis in a report on Monday, October 20th. Truist Financial boosted their price target on shares of Prologis from $131.00 to $142.00 and gave the stock a “buy” rating in a research report on Tuesday. Wells Fargo & Company increased their price objective on shares of Prologis from $120.00 to $139.00 and gave the company an “overweight” rating in a research report on Monday, October 27th. Finally, Mizuho lifted their price objective on shares of Prologis from $118.00 to $138.00 and gave the stock an “outperform” rating in a research note on Thursday, December 4th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $133.00.

Insider Activity at Prologis

In related news, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Cristina Gabriela Bita sold 621 shares of the stock in a transaction on Monday, December 1st. The stock was sold at an average price of $127.60, for a total value of $79,239.60. Following the completion of the sale, the director owned 8,208 shares in the company, valued at approximately $1,047,340.80. The trade was a 7.03% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 81,121 shares of company stock valued at $10,267,210 in the last 90 days. Company insiders own 0.57% of the company’s stock.

About Prologis

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.