2024-02-23 07:00:00 ET
Summary
- Buying fundamentally strong businesses at reasonable valuations often works out well.
- Prologis topped the analyst consensus for revenue and matched the consensus for FFO per share for Q4.
- The industrial REIT powerhouse harnessed the power of its balance sheet in the fourth quarter and throughout 2023.
- Shares of PLD appear to be trading around fair value.
- The REIT could be positioned to slightly outperform the S&P 500 index over the coming 10 years.
I believe that an investing approach oriented toward quality at a fair or better valuation pays off over the long run. I have discussed what I mean by quality in past articles. But for the sake of this article, let's briefly recap....
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Prologis: Buy This REIT Now For Winning Dividend Growth