Industrial Logistics Properties Trust (NASDAQ: ILPT) traded at $27 in October 2021 and now goes for $2.97 — one of the steepest declines among real estate investment trusts (REITs). The company is reeling from the effects of interest-rate hikes and a general drop in the value of real estate.
The COVID-19 pandemic greatly changed the way Americans shopped. Online purchases soar as people stayed home in fear of going into malls or stand-alone stores.
Companies Reporting Before The Bell
• WESCO International (NYSE:WCC) is projected to report quarterly earnings at $3.79 per share on revenue of $5.37 billion.