PLD - 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."
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Forget What You've Heard: This REIT Isn't Seeing Any Slowdown