ClearBridge Investments, an investment management company, released its “ClearBridge Sustainability Leaders Strategy” fourth 2022 investor letter. A copy of the same can be downloaded here. The strategy underperformed its benchmark, the Russell 3000 Index, in the fourth quarter. In the quarter, the strategy gained in eight of the ten sectors it invested in on an absolute basis. Health care, financials, and IT sectors were the leading contributors while communication services and utility sectors detracted from the performance. Stock selection was favorable on a relative basis while sector allocation detracted from the performance. In addition, please check the fund’s top five holdings to know its best picks in 2022.
ClearBridge Sustainability Leaders Strategy highlighted stocks like Prologis, Inc. (NYSE:PLD) in the Q4 2022 investor letter. Prologis, Inc. (NYSE:PLD) is a logistics real estate company. On March 6, 2023, Prologis, Inc. (NYSE:PLD) stock closed at $127.16 per share. One-month return of Prologis, Inc. (NYSE:PLD) was -3.26%, and its shares lost 14.61% of their value over the last 52 weeks. Prologis, Inc. (NYSE:PLD) has a market capitalization of $117.423 billion.
ClearBridge Sustainability Leaders Strategy made the following comment about Prologis, Inc. (NYSE:PLD) in its Q4 2022 investor letter:
“Real estate holdings Equinix (EQIX) and Prologis, Inc. (NYSE:PLD) were standouts in a sector challenged by materially higher interest rates. Equinix is a best-in-class data center REIT with record leasing and backlog and a conservative balance sheet that should position it well in a downturn. Logistics real estate, meanwhile, has some of the most attractive market dynamics of all real estate subsectors, and Prologis is a clear leader within the group. Logistics real estate should continue to benefit from secular tailwinds of rising e-commerce penetration, ever faster delivery times, and supply chain resiliency (“just in case”).”
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Prologis, Inc. (NYSE:PLD) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 55 hedge fund portfolios held Prologis, Inc. (NYSE:PLD) at the end of the fourth quarter which was 59 in the previous quarter.
We discussed Prologis, Inc. (NYSE:PLD) in another article and shared the list of most profitable real estate stocks. In addition, please check out our hedge fund investor letters Q4 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.
