Jim Cramer on Prologis: "I Just Don't Feel I Need That Position"

Prologis, Inc. (NYSE:PLD) is one of the stocks in Jim Cramer’s spotlight. A caller asked if it is safe to start a long-term position in the stock, or if they should wait for a pullback. Cramer replied:

“I love Moghadam. He’s terrific. I am not as keen on the warehouse market right now. I think that there’s, I think you have too much space in it, and I don’t think they need that, they’re going to put up as many as before. But if I got a price break, if I got it down to here, I would take action. But right now, I’m not. I’ve got other stocks I like more. I don’t feel that I need to take a position in Prologis. Great company, I just don’t feel I need that position.”

Prologis (NYSE:PLD) is a logistics real estate company that owns and invests in large-scale industrial properties. The company leases modern facilities to customers involved in business-to-business operations and retail or online fulfillment.

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Disclosure: None. This article is originally published at Insider Monkey.