Here's Why Prologis Is a Red Flag for Economic Growth
Some companies are often good indicators of the overall health of the economy. For example, large retailers can often signal the strength of consumer spending, which is the biggest component of gross domestic product (GDP). Although it's not a retailer, Prologis (NYSE: PLD) is another kind of company that has a finger on the nation's economic pulse. The company just reported third-quarter earnings and withdrew its forecast for 2022. Is this a red flag for the economy?
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Prologis is a logistics real estate investment trust (REIT), serving all sorts of customers, from retailers to manufacturers. If you drive along any of the major highways near big cities, you will see all sorts of massive warehouses with dozens of truck bays. Prologis has 4,914 buildings, with about 1 billion square feet. While Prologis has a global footprint, the U.S. accounts for about 82% of the company's net income.
Source Fool.com
