Real Estate Is Top-Performing S&P 500 Sector Wednesday
4 minutes ago
The S&P 500 Real Estate Sector was the top performer of the 11 industries tracked by the benchmark index.
The sector was up 1.7% in recent trading, led by shares of Prologis (PLD), which were 6.5% higher.
The REIT reported third-quarter results before the bell, and both earnings per share and core FFO per share came in better than expected.
Prologis shares are up 16% this year.
Smith Collection / Gado / Getty Images
In addition, Prologis president Dan Letter said the company was “extending our leadership position in logistics to data centers, where we are investing to meet the growing power demands of digital infrastructure.”
Including today’s gains, Prologis shares are up 16% this year.
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