1 Dividend Stock Down 34% to Buy Hand Over Fist Right Now
Global warehouse giant Prologis (NYSE: PLD) has lost more than a third of its value over the past year. The primary factor weighing on the real estate investment trust's (REIT) share price is the concern that rising interest rates could push the global economy into a recession. That would impact the demand for warehouse space.
However, this sell-off looks like a great buying opportunity. With the stock price slumping, the industrial REIT's dividend yield has risen to around 2.8%, which is quite a bit ahead of the S&P 500's 1.6% dividend yield. Meanwhile, Prologis has enormous built-in growth. That sets it up to potentially produce attractive total returns in the coming years for investors who buy right now.
Prologis has been a great dividend growth stock in recent years. The REIT has grown its payout at a 12% compound annual rate over the last five years, including giving its investors a 25% raise earlier this year. That's double the growth rate of other REITs (6%) and even faster than the S&P 500's pace (5%).
Source Fool.com
