A Prologis facility in Tracy, CA; the REIT's shares have been upgraded by Capital One analysts. (Photo courtesy of Big-D Construction)
McLEAN, VA—Industrial REITs look generally strong going into third-quarter earnings season, which begins Thursday morning with Prologis, write Capital One Securities analysts in an industry note. That being said, the analysts note some near-term moderation of growth in fundamentals across the markets they surveyed.
Analysts Thomas J. Lesnick, Ryan Wineman and Chris Lucas surveyed the Houston, Atlanta, Southern California, Bay Area and Chicago industrial markets using data from CoStar Group and Real Capital Analytics. Broadly speaking, they write, cap rates in those markets “continued to trend flat” on a quarter-over-quarter basis, with the exception of Inland Empire and San Francisco, both of which ticked up slightly.
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Paul Bubny
Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.
