Advertisement
UK markets open in 2 hours 20 minutes
  • NIKKEI 225

    38,368.75
    +816.59 (+2.17%)
     
  • HANG SENG

    17,110.21
    +281.28 (+1.67%)
     
  • CRUDE OIL

    83.42
    +0.06 (+0.07%)
     
  • GOLD FUTURES

    2,340.20
    -1.90 (-0.08%)
     
  • DOW

    38,503.69
    +263.71 (+0.69%)
     
  • Bitcoin GBP

    53,561.92
    +201.33 (+0.38%)
     
  • CMC Crypto 200

    1,437.37
    +22.61 (+1.60%)
     
  • NASDAQ Composite

    15,696.64
    +245.33 (+1.59%)
     
  • UK FTSE All Share

    4,378.75
    +16.15 (+0.37%)
     

What Economic Slowdown? These REITs Are Running Out of Space

Shares of industrial-focused real estate investment trusts (REITs) have tumbled more than 25% this year. Leading global industrial REIT Prologis (NYSE: PLD) recently reported its second-quarter earnings, which were exceptionally strong. The company signed 51.3 million square feet of leases during the period -- 43.6 million square feet from its operating portfolio and 7.7 million square feet in its development portfolio -- with rental rates on the same space surging 45.6%, led by 54% rent growth in the U.S. As a result, Prologis ended the period with a 97.6% occupancy rate, while its same-store net operating income (NOI) grew by 8.2%.