5 Best REIT Stocks To Buy Right Now

2. Prologis, Inc. (NYSE:PLD)

Number of Hedge Fund Holders: 48

Prologis, Inc. (NYSE:PLD) stands as a global leader in logistics real estate, focusing on markets known for their growth potential and limited access. It is one of the best REIT stocks. On October 17, Prologis, Inc. (NYSE:PLD) announced a Q3 FFO of $1.30 and a revenue of $1.92 billion, outperforming Wall Street estimates by $0.05 and $180 million, respectively.

According to Insider Monkey’s third quarter database, 48 hedge funds were bullish on Prologis, Inc. (NYSE:PLD), compared to 50 funds in the preceding quarter. Jeffrey Furber’s AEW Capital Management is the largest shareholder of the company, with 2.45 million shares worth $274.38 million.

Here is what Baron Real Estate Income Fund has to say about Prologis, Inc. (NYSE:PLD) in its Q2 2023 investor letter:

“The shares of Prologis, Inc., the world’s largest industrial REIT, declined in the third quarter of 2023 along with most REITs. We are big fans of CEO Hamid Moghadam and Prologis’ management team, and we remain optimistic about the company’s long-term growth outlook.

Prologis owns a high-quality real estate portfolio that is concentrated in major global trade markets and large population centers across the Americas, Europe, and Asia. Prologis has an unmatched global platform, strong competitive advantages (scale, data, and technology), and attractive embedded growth prospects. The company is the only industrial REIT with an A credit rating.

We continue to believe the appreciation potential for Prologis shares remains compelling given that the company’s rents on its in-place leases are more than 65% below current market rents, thus providing a strong runway for growth in the next three to five years.”