The Daily REITBeat | Monday, December 30th, 2024

"Staying Put?"

Good Morning!

Futures deep in the red once again at the time of this writing as talking heads focused on today’s home sales data coming due, the movement in treasury yields, and the passing of President Jimmy Carter among other topics.

From Bloomberg

"Global stocks edged lower in holiday-season reduced volumes as a powerful rally in technology shares falters in the final trading sessions of 2024.
US equity futures signaled a weaker open on Wall Street after Friday’s retreat, which was marked by a pullback in tech megacaps. Europe’s Stoxx 600 index trimmed earlier declines, while Asian stocks snapped five days of gains.
The so-called Magnificent Seven cohort of US tech giants has driven a 25% advance in the S&P 500 this year, while prompting some to worry that the gains are too concentrated in a small group of names. Still, few are calling for the rally to end and none of the 19 strategists tracked by Bloomberg expects the S&P 500 to decline next year.
“In these moments, it’s best to stay put,” said Nicolas Domont, a fund manager at Optigestion in Paris. “The US remains the place to be. Growth stocks continue to outperform and earnings forecasts are good, so there are good reasons to remain optimistic.”
Treasuries rose, with 10-year yields dropping from near the highest levels since May. The euro strengthened and German bonds erased an earlier advance after data showed Spanish inflation accelerated more than anticipated, supporting the case for gradual interest-rate cuts from the European Central Bank."

In REIT News

On Friday, FCPT announced the acquisition of a Burger King property located in a strong retail corridor in Virginia for $1.7 million and noted that the property is under a corporate long-term, triple net lease with approximately 13 years of term remaining and priced at a 7.0% cap rate on rent as of the closing date and exclusive of transaction costs plus the company completed real estate acquisitions of 87 properties in 2024 for a total investment of approximately $265 million exclusive of transaction costs

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David Auerbach & Mary Jensen

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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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