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ProLogis, the world’s biggest warehouse company, led a decline of nine U.S. real estate investment trusts after Standard & Poor’s lowered the credit ratings of two REITs and said it may lower eight more.
S&P cut debt ratings for apartment owner Camden Property Trust and warehouse landlord First Industrial Trust Inc.
Shares of Denver-based Prologis fell 50 cents, or 8.3 percent, to close at $5.52 in New York Stock Exchange composite trading.
