5 Large-Cap Stocks With Insider Buying

4. Prologis, Inc. (NYSE:PLD)

Market Cap as of December 14: $113.42 Billion

Number of Hedge Fund Holders: 59

Prologis, Inc. (NYSE:PLD) is a global leader in logistics real estate with a strong portfolio of industrial properties and warehouses. As of December 14, Prologis, Inc. (NYSE:PLD) is worth $113.42 billion on the open market and is offering a dividend yield of 2.60%.

On November 2, Deutsche Bank analyst Derek Johnston revised his price target on Prologis, Inc. (NYSE:PLD) to $149 from $156 and maintained a Buy rating on the shares.

On November 30, Prologis, Inc. (NYSE:PLD) disclosed that director David P. O’Connor purchased 9,000 common shares of the company’s stock at $114.13 each. The transaction was valued at $1.02 million. Prologis, Inc. (NYSE:PLD) ranks among the large-cap stocks that insiders are buying right now.

At the close of the third quarter of 2022, 59 hedge funds held stakes in Prologis, Inc. (NYSE:PLD). The total value of these stakes amounted to $1.32 billion, up from $941.57 million in the previous quarter with 49 positions. As of September 30, AEW Capital Management is the largest investor in Prologis, Inc. (NYSE:PLD) and has a position worth $253.67 million in the company.

Here is what Baron Funds had to say about Prologis, Inc. (NYSE:PLD) in its third-quarter 2022 investor letter:

“Prologis, Inc. (NYSE:PLD) is the world’s largest industrial REIT. The company 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.

Following a year-to-date decline in its shares of approximately 40%, we believe Prologis’ current valuation of only 22 times cash flow (adjusted funds from operations or “AFFO”) and a 4.6% implied capitalization rate is compelling given that the company’s rents on its in-place leases are more than 50% below current market rents, thus providing a strong runway for growth in the next three to five years.

In the third quarter, we acquired additional shares of Prologis, Inc., the world’s largest industrial REIT. We are big fans of CEO Hamid Moghadam and Prologis’ management team and remain optimistic about the company’s long-term growth prospects…” (Click here to read the full text)