The Daily REITBeat | Monday, March 24th, 2025

"Targeted Tariffs?"

Good Morning!

Futures deep in the green at the time of this writing as talking heads focus on trade tariff implications with April 2nd being a key date along with tech stocks and more advancements in AI.

From Bloomberg

"US stock futures rallied, with futures on the Nasdaq 100 Index surging 1.2%, as traders snapped up beaten down tech shares and took optimism from signs that US tariffs may be more targeted.
S&P 500 contacts also gained about 1% in early Monday trading. Tesla Inc. added about 4% in premarket trading. Nvidia Corp. and Palantir Technologies Inc. rose amid news that Jack Ma’s Ant Group Co. has developed AI techniques that could cut costs by 20%.
Meanwhile, the dollar weakened and Treasury yields ticked higher. European indexes were broadly little changed. German software developer SAP SE took the spot as Europe’s most-valuable public company, unseating Danish weight-loss drug maker Novo Nordisk A/S, whose shares have declined 18% this year.
Investors were taking some comfort from indications that President Donald Trump’s coming wave of tariffs is poised to be more targeted than the barrage he has occasionally threatened. The administration is not planning separate, sectoral-specific tariffs to be unveiled at the same event on April 2, officials said.
“This raises the possibility that some sectors and countries may fare better than others, helping explain market optimism,” said Daniel Murray, chief executive officer of EFG Asset Management in Zurich. "

In REIT News

Lucid Capital Markets initiates GNL ($10) and NTST ($18) with Buy ratings
Redburn Atlantic upgrades WH to Buy from Neutral (raise price target by $5 to $115)
Redburn Atlantic upgrades CHH to Neutral from Sell (raise price target by $4 to $132)
SmartStop Self Storage REIT announced the launch of its proposed underwritten public offering filing a Form S-11 with the SEC to offer 27 million shares of common stock with a proposed offering range between $28-$36/share under ticker symbol “SMA” and intends to use the net proceeds from the proposed offering to redeem 100% of its issued and outstanding Series A Preferred Stock, pay down existing debt under its credit facility, repay an acquisition facility, fund external growth with property acquisitions, and fund other general corporate uses

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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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