This Dividend Stock Is Down 25% Yet Posting Record Results
As concerns grew in 2022 that the economy might slow, Amazon (NASDAQ: AMZN) pulled back on the warehouse expansion plans it enacted during the coronavirus pandemic. Some investors saw that pullback and wondered if warehouses are no longer a great investment. As a result, industry giant Prologis (NYSE: PLD) saw its stock decline roughly 25% since peaking in early 2022 (roughly the same time Amazon announced its warehouse shift).
The strange thing is, Prologis continues to post record-setting financial results. Here's what you need to know about this dividend stock, including a take on whether it's a good investment.
Amazon is a giant company that can distort markets when it decides to put its capital to work. For example, when it announced the pullback on the warehouse front, some in the industry breathed a sigh of relief. Without Amazon sucking up massive amounts of construction supplies, key building materials would be more readily available. So while the headlines around Amazon might have seemed negative, there were clear positives to be found for those who looked closer.
Source Fool.com
