The Daily REITBeat | Friday, August 1st, 2025

"Tariff Hit"

From Bloomberg

"Global stocks extended a selloff as President Donald Trump’s sweeping import tariffs fueled concerns about the outlook for economic growth.
Futures on the S&P 500 retreated more than 1%, suggesting the underlying gauge will extend a three-day run of declines. Amazon.com Inc. slumped as much as 8% in premarket trading as its underwhelming earnings introduced a note of caution amid a generally upbeat reporting season for tech megacaps.
The dollar edged higher along with Treasury yields as traders braced for key US jobs data later Friday.
Trump announced a slew of new levies, including a 10% global minimum and 15% or higher duties for countries with trade surpluses with America, as he forged ahead with his turbulent effort to reshape international commerce. Questions about the impact on growth and inflation are starting to overshadow the AI-driven optimism that has buoyed megacap technology stocks.
“Next week marks a significant turning point for global trade with the introduction of Trump’s tariffs, creating uncertainty about how these new and historical barriers will affect markets in practice,” said Kim Heuacker, an associate consultant at Camarco. “Current high valuations, particularly among US stocks, are becoming increasingly difficult to justify.”"

In REIT News

Compass Point upgrades IRT to Buy from Neutral (raise price target by $2 to $24)
Yesterday, Freedom Broker upgraded WELL to Buy from Hold (raised price target by $29 to $182)
ADC, AMH, BHR, CPT, CUBE, CUZ, HR, OHI, PK, XHR announced quarterly earnings
WELL priced $400 million of 4.50% notes due 2030 and $600 million of 5.125% notes due 2035 on behalf of its operating partnership and intends to use the net proceeds for general corporate purposes, including repayment of debt and its pipeline of investment opportunities in healthcare and seniors housing properties
CUZ acquired The Link, a 292,000 sf lifestyle office property in Dallas, for $218 million noting that the property was built in 2021 and is currently 93.6% leased with a weighted average lease term of over nine years
HR announced that its board unanimously approved to reduce its common stock dividend by 23% to $0.24 per share (from $.31/share) and immediately reduces the FAD payout ratio to approximately 80%.
DEA acquired a 25-year lease with two five-year extension options for a 64,000 rentable square foot crime laboratory in Fort Myers, FL which will be a two-story, built-to-suit facility on 8.29 acres of land strategically located adjacent to the I-75 Interstate Highway and north of Alico Road as the property will be leased to the Florida Department of Law Enforcement (FDLE) and will include state-of-the-art laboratories and a training center
STAG announced the promotion, effective August 1, 2025, of Steven T. Kimball to Chief Operating Officer
Yesterday morning, S&P raised all of AMT’s ratings, including its issuer credit rating, to “BBB+” from “BBB” with a stable outlook and removed ratings from “under criteria observation”

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David Auerbach
dauerbach@irrealized.com
214.492.3777

David Auerbach boasts over two decades of experience in the securities industry, specializing as an institutional trader with a focus on Real Estate Investment Trusts (REITs), Equity and Preferred stocks, MLPs, ETFs, and Closed End Funds.

Based in Dallas, TX throughout his entire career, David currently serves as the Chief Investment Officer for Hoya Capital, managing the Hoya Housing 100 ETF (Ticker: HOMZ) and The High Yield Dividend ETF (Ticker: RIET).

Previously, David held the position of Managing Director at Armada ETF Advisors, the sub-advisor for the Residential REIT ETF (Ticker: HAUS) and The Private Real Estate Strategy via Liquid REITs ETF (Ticker: PRVT). Additionally, he acts as a consultant with IRRealized, LLC, focusing on corporate access in the REIT industry.

David's industry journey includes roles at World Equity Group, Esposito Securities, and Green Street Advisors where he got his start in the REIT industry. At Esposito Securities, he played a crucial role in building the REIT/Real Estate platform and worked extensively with institutional investors, Equity REITs, and ETF issuers.

Throughout his career, David has been quoted by reputable publications such as Bloomberg, WSJ, Financial Times, REIT.com, and GlobeSt.com. He has also made notable appearances as a featured guest on networks like Yahoo Finance, TD Ameritrade, and Bloomberg.

David holds a BBA in Finance from the University of Texas at Austin (May 1999) and an MBA in Finance from Southern Methodist University (May 2005). He maintains FINRA Series 7, 24, 55, and 63 registrations.

In his leisure time, David is an avid traveler, often found crisscrossing the country in pursuit of attending as many Phish concerts as possible.

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