This Dividend Stock's $40 Billion Secret Weapon
Real estate investment trusts (REITs) are specifically structured to pass income on to shareholders. Prologis (NYSE: PLD) is no different from any other REIT in this regard, though it tends to be afforded a premium valuation much of the time. So its 2.6% dividend yield might seem a bit miserly -- until you find out that the dividend has grown at an annualized clip of more than 10% over the past decade. That's very attractive. And, given the REIT's $40 billion secret weapon, more robust dividend growth is likely in the years ahead. Here's what you need to know.
Prologis has a market cap of around $120 billion. That is a huge figure for a REIT and makes this company one of the largest players in the broader REIT sector. However, Prologis is a very focused company. It owns around 5,500 warehouses. Looking at this from a different perspective, the REIT manages assets with over 1.2 billion square feet of rentable space.
Image source: Getty Images.
Source Fool.com
