PLD - This Incredible Dividend Stock Hit a Speed Bump. Time to Sell?
2024-04-18 05:17:00 ET
Prologis (NYSE: PLD) has done an incredible job paying dividends over the years. The real estate investment trust (REIT), focused on logistics properties, has grown its payout at a 13% compound annual rate over the last five years. That's more than double the 5% dividend growth rate of the S&P 500 and the average REIT.
The industrial REIT had initially expected that 2024 would be another strong year. However, some near-term headwinds will likely weigh on its growth. Here's a look at whether investors should bail on the top dividend stock .
Prologis recently reported its first-quarter results, and its core funds from operations ( FFO ) grew 5% to $1.28 per share. Core FFO per-share growth was an even higher 6.5% after excluding the impact of net promote income from its funds management business.
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This Incredible Dividend Stock Hit a Speed Bump. Time to Sell?