Demand and Supply Concerns Dragged Prologis (PLD) Shares in the Second Quarter

Carillon Tower Advisers, an investment management company, released its “Carillon Eagle Growth & Income Fund” second quarter 2022 investor letter. A copy of the same can be downloaded here. Since 2015, for the first time, the market witnessed two consecutive quarterly losses. During the second quarter, the S&P 500 Index continued its decline, trading at -16.1%. Inflation concerns and interest rate hikes impacted the fund’s performance in the quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Carillon Tower Advisers discussed stocks like Prologis, Inc. (NYSE:PLD) in the second quarter 2022 investor letter. Prologis, Inc. (NYSE:PLD) is a leader in real estate logistics. On October 3, 2022, Prologis, Inc. (NYSE:PLD) stock closed at $104.36 per share. One-month return of Prologis, Inc. (NYSE:PLD) was -15.70% and its shares lost 17.46% of their value over the last 52 weeks. Prologis, Inc. (NYSE:PLD) has a market capitalization of $77.266 billion.

Here is what Carillon Tower Advisers specifically said about Prologis, Inc. (NYSE:PLD) in its Q2 2022 investor letter:

“Prologis, Inc. (NYSE:PLD) underperformed due to supply and demand concerns following the announcement that a major online retailer is slowing the rollout of new warehouses. However, we continue to believe that there is overwhelming demand for the company’s assets.”

Prologis, Inc. (NYSE:PLD) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 49 hedge fund portfolios held  Prologis, Inc. (NYSE:PLD) at the end of the second quarter which was 37 in the previous quarter.

We discussed Prologis, Inc. (NYSE:PLD) in another article and shared Baron Funds’ views on the company. In addition, please check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other leading investors.

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