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2. Prologis, Inc. (NYSE:PLD)

Number of Hedge Fund Holders: 50

Prologis, Inc. (NYSE:PLD) is a top player in logistics real estate worldwide, focusing on high-barrier, high-growth markets. The company owns and invests in properties and projects at a large scale, leasing modern logistics facilities to a diverse customer base, mainly in business-to-business and retail/online fulfillment sectors. On July 18, Prologis, Inc. (NYSE:PLD) reported a Q2 FFO of $1.83, beating Wall Street expectations by $0.16. The revenue of $2.45 billion increased by 96% year-over-year, surpassing market consensus by $770 million.

According to Insider Monkey’s second quarter database, 50 hedge funds were bullish on Prologis, Inc. (NYSE:PLD), compared to 51 in the previous quarter. Jeffrey Furber’s AEW Capital Management is the largest shareholder of the company, with 2.52 million shares worth $309 million. 

Here is what Aristotle Atlantic Partners has to say about Prologis, Inc. (NYSE:PLD) in its Q2 2023 investor letter:

“Prologis underperformed in the second quarter along with the real estate sector, as the appetite for risk in the broad market increased. Prologis’ results have shown less cyclicality during the recent downturn in the sector, so there is less scope for an earnings recovery as is the case in more beaten-down real estate companies. The company announced the acquisition of a 14 million square foot portfolio of industrial properties from Blackstone for $3.1 billion at the end of the second quarter.”