5 Best REIT Dividend Stocks

2. Prologis, Inc. (NYSE:PLD)

Number of Hedge Fund Holders: 55

Prologis, Inc. (NYSE:PLD) is a California-based REIT that invests in logistics facilities. On February 24, the company declared a 10% hike in its quarterly dividend to $0.87 per share. Through this increase, the company stretched its dividend growth streak to nine years, which makes it one of the best dividend stocks on our list. As of April 18, the stock has a dividend yield of 2.81%.

At the end of December 2022, 55 hedge funds in Insider Monkey’s database were long Prologis, Inc. (NYSE:PLD), compared with 59 in the previous quarter. The collective value of stakes owned by these hedge funds is over $1.43 billion.

ClearBridge Investments mentioned Prologis, Inc. (NYSE:PLD) in its Q4 2022 investor letter. Here is what the firm has to say about the company:

“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”).”