Shares of Prologis (NYSE: PLD) have tumbled 40% from their peak earlier this year. That's largely due to worries that warehouse space demand will cool off considerably.
However, the leading logistics REIT hasn't seen any signs of a slowdown. That's clear in its recent third-quarter report and outlook for what's ahead. Because of that, the steep decline in its share price makes it look like an even more attractive buy since the sell-off pushed the dividend yield up to 3%.
Investors have a lot of things on their minds these days. "We are clearly in a volatile macro environment where ongoing inflation, steeply rising interest rates, and the war and energy crisis in Europe are pressuring the global economy, " stated Prologis CFO Tim Arndt on its third-quarter conference call . While he said the company is "closely monitoring each element," the CFO noted that "the fundamentals in our business are very strong, and our read of supply and demand in our markets remains out of sync with the headlines."
For further details see:
Down 40%, This Beaten-Down Dividend Stock Sees Significant Growth Still Ahead