2 Industrial REITs with Minimal Correlation to Economic Output Industrial REITs are potentially risky as the Fed''s mission to fight inflation will ultimately slow down industrial output. However, there is a unique class amongst industrial REITs with growth prospects that are not so correlated to the underlying industrial output of the economy. These are the self-storage REITs. In this article, we are looking at Public Storage (NYSE: PSA) and Extra Space Storage (NYSE: EXR), whose investment cases are backed by unique qualities and robust dividend growth prospects. That said, their valuation multiples continue to appear modestly elevated. Thus further headwinds are not unlikely. Accordingly, I am neutral on both names.