This industrial and logistics property owner has raised its dividend for 13 consecutive years, and its dividend per share has climbed at a 16% compound annual rate over the past three years, a pace that ranks in the top 20% of all dividend-paying stocks we track.
The company owns and operates warehouses, distribution centers, and fulfillment buildings concentrated in major coastal and inland transportation hubs across the United States. Demand for this type of space comes from e-commerce operators, third-party logistics firms, and manufacturers that need modern buildings close to large population centers. Limited new construction in these markets has let landlords push through large rent increases as older leases expire, which has kept operating income growing at a healthy clip.
A separate shareholder dispute over board seats has added some short-term distraction, and industry-wide vacancy remains a bit above its long-run average, which tempers the picture slightly without changing the underlying growth story.
This name was just added to our Dividend Growth Stocks Portfolio. The addition reflects a long streak of dividend increases paired with a manageable debt position and a leasing environment that continues to reward owners of scarce, well-located space. For investors who want dividend growth backed by physical, income-producing property, this profile lines up well with the portfolio’s focus on durable, compounding income.
