Several of these stocks have rallied since the start of the year, but some are still down, including two of the largest real estate investment trusts (REITs) by market capitalization, American Tower (NYSE: AMT) and Public Storage (NYSE: PSA). Tenant consolidation, high inflation, foreign currency volatility, and rising interest rates have all affected its operating costs and eaten into earnings. The continued roll-out of 5G technology in international markets and the acquisition of data center REIT CoreSite at the end of 2021 helped the company combat these headwinds and still post strong earnings for the full year.