5 Best REIT Dividend Stocks According to Hedge Funds

4. Prologis, Inc. (NYSE: PLD)

Number of Hedge Fund Holders: 39
Dividend Yield: 2.1%

Prologis, Inc. (NYSE: PLD) is a leading company in the logistics real estate sector, focusing on high-barrier, high-growth markets. It ranks 4th on our list of the best REIT dividend stocks according to hedge funds.

This July, in light of Prologis, Inc.’s (NYSE: PLD) positive Q2 reports, Wells Fargo analyst Blain Heck commented that the company’s shares would outperform peers. Heck has retained his Overweight rating on Prologis, Inc. (NYSE: PLD) shares.

In the second quarter of 2021, Prologis, Inc. (NYSE: PLD) had an FFO of $1.01, beating estimates by $0.02. The company’s revenue was $1.01 billion, up 7.45% year over year but missing estimates by $10.04 million. Prologis, Inc. (NYSE: PLD) has also gained about 26.35% in the past 6 months and 32.01% year to date.

By the end of the first quarter of 2021, 36 hedge funds out of the 866 tracked by Insider Monkey held stakes in Prologis, Inc. (NYSE: PLD) worth roughly $771 million. This is compared to 36 hedge funds in the previous quarter with stakes worth approximately $655 million.

Third Avenue Management, an investment management firm, mentioned Prologis, Inc. (NYSE: PLD) in its first-quarter 2020 investor letter. Here’s what they said:

“Prologis, Inc. (a U.S.-based real estate investment trust that is the largest owner of modern logistic facilities with a platform that expands more than 950 million square feet of space in 19 countries globally) completing $2.0 billion USD of debt placements at a weighted average interest rate of 0.9% with an average term of more than 13 years. In the process, the company has further solidified one of the most compelling capital structures in the real estate industry with a prudent loan-to-value ratio of approximately 25% that is primarily comprised of fixed-rate debt at an average cost of 1.8% for a term that exceeds 10 years. As a result, the long-tenured management at Prologis (including one of the true leaders in the real estate space CEO Hamid Moghadam) have set up the company for what could be a very rewarding period ahead as incremental rental income and asset management fees seem likely to accrue disproportionately to shareholders on the “bottom-line” with its interest costs locked-in.”