Prologis (NYSE:PLD) kicked off its Fiscal 2023 with solid Q1 results, positioning the company for another year of record profitability. In fact, management displayed great confidence by revising its previous guidance upward, a notable feat considering the challenging environment for most real estate investment trusts grappling with the impact of rising interest rates on their financials.
This positive development not only highlights Prologis’ exceptional qualities, including its ability to achieve superior economies of scale as the largest industrial REIT in the U.S., but it also signifies the robustness of its dividend growth potential. The company’s most recent double-digit dividend hike is a shining example of this strength, further cementing its position as a sound dividend growth option. Therefore, I am bullish on the stock.
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