2023-04-22 08:47:00 ET
Prologis (NYSE: PLD) might not stand out to dividend investors. While the warehouse giant's dividend yield of 2.8% is higher than that of the S&P 500 index (1.6%), it's not as high as others (the REIT sector's average is above 4%). Because of that, it might not be appealing to dividend investors who value yield above all else.
However, when put into the proper context, Prologis pays a top-flight dividend. Here's a look at what the company's CFO, Tim Arndt, had to say about the shareholder payout on the leading industrial REIT's first-quarter conference call.
Arndt shared some observations about where the company stands compared to others in the S&P 500. He pointed out, "Today, we sit as the 68th largest company in the S&P 500 ahead of names like GE , American Express , Cigna , Citigroup , as well as Ford and GM combined." Prologis has grown larger than several iconic companies that are household names. It's the biggest REIT with a market cap of over $115 billion.
For further details see:
This Company Is Becoming 1 of the Top Dividend Stocks in the S&P 500