Prologis Continues Strong Growth and Offers Value for Dividend Investors
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Prologis (PLD) is the largest publicly traded REIT in the US, with a market cap of $104 billion. It has achieved strong AFFO growth of 11.57% over the past 5 years.
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Prologis has a defensive portfolio with 6,700 global customers. Top 10 customers account for only 14.6% of rent. Focused on logistics centers near major cities.
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Revenue and FFO beat estimates in Q3 2022. Raised full year guidance. Occupancy forecast tightened to 97.25-97.50%, showing signs of recovery.
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Attractive 3.16% dividend yield, grown at 12.58% CAGR over 5 years. Stock price offers compelling value, with potential 15% annual returns over next 4 years.
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Prologis makes up 7.07% of VNQ ETF. With strong growth and reasonable valuation, it remains an attractive investment for dividend growth investors.