5 Best Real Estate and Realty Stocks To Buy According To Hedge Funds

3. Prologis, Inc. (NYSE:PLD)

Number of Hedge Fund Holders: 50

Prologis, Inc. (NYSE:PLD), headquartered in San Francisco, California, operates as a real estate investment trust specializing in logistics facilities. The company’s establishment took place in June 2011 through the merger of AMB Property Corporation and Prologis, creating one of the world’s largest industrial real estate companies. This industrial REIT is recognized as a top-tier dividend stock, boasting a track record of increasing its dividend at a compound annual rate of 15% since its initial public offering (IPO).

Prologis, Inc. (NYSE:PLD) announced its Q2 FFO on July 18, coming in at $1.83, surpassing Wall Street’s projections by $0.16. The company reported revenue of $2.45 billion, reflecting a 96% year-over-year increase and exceeding market consensus by $770 million.

According to Insider Monkey’s second quarter database, 50 hedge funds were bullish on Prologis, Inc. (NYSE:PLD), compared to 51 in the previous quarter. Jeffrey Furber’s AEW Capital Management is the largest shareholder of the company, with 2.52 million shares worth $309 million.

Here is what Aristotle Atlantic Partners has to say about Prologis, Inc. (NYSE:PLD) in its Q2 2023 investor letter:

“Prologis underperformed in the second quarter along with the real estate sector, as the appetite for risk in the broad market increased. Prologis’ results have shown less cyclicality during the recent downturn in the sector, so there is less scope for an earnings recovery as is the case in more beaten-down real estate companies. The company announced the acquisition of a 14 million square foot portfolio of industrial properties from Blackstone for $3.1 billion at the end of the second quarter.”