The share prices of many logistics-focused REITs, including Tritax EuroBox (EBOX), have been hit as interest rates have risen and the investment market has cooled. It was perhaps inevitable that valuations in the low-yielding logistics property sector would fall as investors factor this in. However, the occupier market is still a landlord’s market, the manager says, with record low supply and robust demand putting owners in an advantageous position, meaning rental growth should be in the picture. This should have an offsetting effect on softening property yields. EBOX has announced a number of leasing deals at significant uplifts to previous rents and with superior terms, such as annual uncapped inflation-linked uplifts. The market sell-off of logistics-focused companies has seen EBOX’s share price fall to a 49.3% discount to NAV and its dividend yield move to 6.9%.