Forget What You've Heard: This REIT Isn't Seeing Any Slowdown
If you read the news, it almost seems inevitable that we're heading toward a recession. With inflation running rampant, the Federal Reserve has no choice but to raise interest rates rapidly. Most market watchers believe this will undoubtedly cause a recession. That would be likely to cool off the red-hot market for industrial real estate.
However, those headlines don't match the current reality. That's clear from the evidence provided by Prologis (NYSE: PLD) on its second-quarter conference call. Here's what the leading industrial real estate investment trust (REIT) is seeing in the market.
Prologis CFO Tim Arndt led the industrial REIT's quarterly conference call. He noted the second-quarter results "were strong and ahead of our expectations with occupancy, leasing, and rent change all at record highs." Arndt also pointed out that fellow industrial REIT Duke Realty (NYSE: DRE) -- which Prologis is in the process of acquiring -- recently reported results that "tell a similarly strong story."
Source Fool.com
