ClearBridge Investments Expects Huge Growth in Prologis (PLD)

ClearBridge Investments, an investment management company, released its “ClearBridge Sustainability Leaders Strategy” second quarter 2022 investor letter. A copy of the same can be downloaded here. The fund’s portfolio outperformed the Russell 3000 benchmark Index in the second quarter of 2022. Stock selection and sector allocation contributed to the fund’s performance. For more information on the fund’s top picks in 2022, please check its top five holdings.

In the letter, ClearBridge Investments discussed its ClearBridge Sustainability Leaders Strategy portfolio. The fund added Prologis, Inc. (NYSE:PLD) to its portfolio. Prologis, Inc. (NYSE:PLD) is a logistics real estate leader and has a market capitalization of $97.278 billion. The stock of Prologis, Inc. (NYSE:PLD) closed at $131.39 per share on August 5, 2022. One-month return of Prologis, Inc. (NYSE:PLD) rose to 7.89% and its shares gained 1.06% of their value over the last 52 weeks.

Here is what ClearBridge Sustainability Leaders Strategy specifically said about Prologis, Inc. (NYSE:PLD) in its second-quarter investor letter:

Prologis, Inc. (NYSE:PLD), another addition, performed well. Prologis is a global leader in logistics real estate. We believe the company should benefit from long-term demand growth for warehouse space due to increasing e-commerce penetration and increasing focus on supply chain resiliency. Prologis’s portfolio is focused on markets characterized by large and growing population densities and high barriers to entry, typically near large labor pools and extensive transportation infrastructure, which should translate to strong operating performance over the long term. Part of Prologis’s competitive differentiation is its sustainability leadership, which helps customers achieve their own sustainability goals. For example, the company has committed to achieving green building certification for 100% of its new development and its top 25 customers have chosen green-certified space for over half of the square footage they lease. The company also works closely with customers to implement efficiency improvements and install onsite solar with no upfront costs to the customer (through its onsite solar program Prologis has become the third-largest corporate owner of solar capacity in the U.S.).”

Prologis, Inc. (NYSE:PLD) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 37 hedge fund portfolios held Prologis, Inc. (NYSE:PLD) at the end of the first quarter which was consistent with the previous quarter.

We discussed Prologis, Inc. (NYSE:PLD) in another article and shared the best dividend-paying REIT stocks. In addition, please check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other leading investors.

Disclosure: None. This article is originally published at Insider Monkey.