2023-06-23 06:25:00 ET
With a $110 billion market cap, real estate investment trust (REIT) Prologis (NYSE: PLD) is the industry giant when it comes to warehouses. That makes it an important company to watch in what is, generally speaking, a pretty boring sector. But the REIT has an interesting history of testing out new approaches when it comes to warehouse space. And it's making another big test as it builds a new property in Canada.
Prologis owns 1.1 billion square feet of warehouse space across four continents. With assets generally located in key global distribution hubs, investors should be watching this REIT closely even if they own one of its competitors. What's going on with this industry giant is likely to end up impacting the smaller names in the property niche.
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Prologis Is Switching Gears With This Big ESG Project