You don't have to choose between income and growth when deciding which stocks to buy -- some excellent businesses offer a lot of both. Two in particular that are worth a closer look right now are real estate investment trusts, or REITs, that operate in two of the hottest subsectors of commercial properties. And you might be surprised at just how fast these businesses are growing.

There have been some major fears among investors worried that demand for industrial properties, like fulfillment centers and warehouses, would cool off. Not only was a ton of growth pulled forward due to the COVID-19 pandemic and its accompanying e-commerce surge, but if consumer spending falls, it could also lead to declining demand for logistical properties.

However, if you look at EastGroup Properties' (NYSE: EGP) latest earnings report, you won't see much evidence of this happening. Funds from operations -- or FFO, the real estate equivalent of "earnings" -- grew more than 12% year over year (YOY) in the fourth quarter. And same-property income increased by 8.7% YOY, a very strong growth rate for a real estate business that relies on long-term leases. Occupancy was 98.4% in the property portfolio at the end of the year, up from 97.3% at the end of 2021. And perhaps the most staggering statistic, EastGroup's rental rates increased by an average of 49.2% YOY on both new and renewal leases.

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Source Fool.com