With Unstoppable Growth in the Forecast, This Dividend Stock Is a Screaming Buy
Prologis (NYSE: PLD) recently reported strong second-quarter results. The industrial real estate investment trust (REIT) delivered double-digit growth, driven by robust rental increases, as existing leases expired and repriced to market rates.
The company expects to continue growing at a brisk pace in the future. Despite that outlook, shares of the industrial REIT currently sit more than 10% below their 52-week high, which has pushed its dividend yield up to 2.8%. That makes it look like a screaming buy right now, especially for those desiring an attractive and rapidly rising stream of dividend income.
Prologis continues to grow its income briskly. The company's same-store net operating income (NOI) increased by 10.7% during the first quarter. In-place rents on the company's existing long-term leases increased by about 2.5%.
Source Fool.com
