The Daily REITBeat | Friday, January 3rd, 2025
"Stop the Streak?"
From Bloomberg
- "US equity futures posted modest gains, suggesting Wall Street stocks may finally halt a five-day losing streak that’s the longest since April.
- S&P 500 contracts climbed 0.2%, with those for the tech-heavy Nasdaq 100 up 0.3%. Tesla Inc. gained in premarket, rebounding partially from Thursday’s slump prompted by disappointing vehicle sales numbers. United States Steel Corp. fell more than 9% after reports that President Joe Biden has decided to block Nippon Steel Corp.’s purchase of the company.
- It’s been a volatile week for stocks, with the S&P 500 index posting intraday gains in the previous two sessions, only to close lower. US manufacturing data due later will give investors clues on the health of the economy while they look ahead to Donald Trump’s Presidential inauguration 17 days away to reduce uncertainty over future US policy.
- “We really need to see more of that clarity on January 20th for markets to have greater conviction,” said Laura Cooper, global investment strategist at Nuveen. “But I think US exceptionalism will continue to be the dominant theme at least in the first half of the year, regardless of what some of those policies that come through are.”"
In REIT News
- Yesterday, Morningstar upgraded ELS to Buy from Hold (maintain $76 price target)
- PINE announced the acquisition of a property leased to Lowe’s Home Improvement located in Knoxville, TN for $22.5 million and full year 2024 investments, including acquisitions and structured investment activity, totaled $134.7 million at a weighted average initial investment yield of 8.7% while in December 2024, the Company sold one former Mountain Express convenience store, a single-tenant Walgreen’s and a single-tenant AutoZone property for $5.4 million and 2024 disposition volume, inclusive of property and structured investment sales, totaled $75.6 million at a weighted average exit cash cap rate of 6.6%
- UDR announced Executive Management promotions and Leadership Transition plans effective January 1, 2025 whereby 1) Mike Lacy has been promoted to Chief Operating Officer after having served as Senior Vice President – Operations since 2019; 2) Joe Fisher has been appointed to the role of Chief Investment Officer in addition to his roles as President and Chief Financial Officer; 3) the Company will initiate an executive search process to recruit a new Chief Financial Officer and upon the successful hire of a new CFO, Mr. Fisher will relinquish his responsibilities in that capacity and retain the roles of President and Chief Investment Officer
Download The REIT Beat here!
Welcome your comments and feedback.
Have a great day!
David Auerbach & Mary Jensen
Subscribe here to receive The Daily REITBeat newsletter every morning.
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.
Confidentiality Notice: The content in this article is provided for informational purposes only and is not intended to be, nor should it be construed or used as an offer to sell, or a solicitation of any offer to buy, any security. Additionally, the information herein should not be relied upon as recommendations or financial planning advice. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues. This email, including attachments, may include non-public, proprietary, confidential or legally privileged information. If you are not an intended recipient or an authorized agent of an intended recipient, you are hereby notified that any dissemination, distribution or copying of the information contained in or transmitted with this email is unauthorized and strictly prohibited. If you have received this email in error, please notify the sender by replying to this message and permanently delete this e-mail, its attachments, and any copies of it immediately. This message is intended only for the addressee. If you are not the intended recipient, please notify the sender by e-mail reply and delete this message. You may not copy, disclose, distribute or otherwise make use of this message or its contents for yourself or for any other person, as that action may be unlawful. You should not retain, copy or use this e-mail or any attachment for any purpose, nor disclose all or any part of the contents to any other person. All data is reported from Bloomberg, SNL, or Hoya Capital unless otherwise indicated. While such information is believed to be reliable, no representation or warranty is made concerning the accuracy of any information presented. Statements herein that reflect projections or expectations of future financial or economic performance are forward-looking statements. Such “forward-looking” statements are based on various assumptions, which assumptions may not prove to be correct. Accordingly, there can be no assurance that such assumptions and statements will accurately predict future events or actual performance. No representation or warranty can be given that the estimates, opinions or assumptions made herein will prove to be accurate. Actual results for any period may or may not approximate such forward-looking statements. No representations or warranties whatsoever are made by Hoya Capital as to the future profitability of investments recommended by these organizations.
Subscribe here to receive The Daily REITBeat newsletter every morning.
Last updated: 2025-05-12 - v0.3