The Daily REITBeat | Wednesday, June 4th, 2025

"NAREIT Lite Edition"

From Bloomberg

"US stock futures extended gains as investors await further data on the labor market, which has so far held up better than expected amid the Trump administration’s trade war.
S&P 500 contracts rose 0.2% after the US benchmark posted consecutive advances for the first time since mid-May. MSCI’s gauge for global equities hit an all-time high after gains in European and Asian stocks. The dollar and US Treasuries were little changed.
While some economists fear a notable weakening in US employment in the coming months under the weight of tariffs, that hasn’t shown up in the data yet. The muted impact has lifted optimism and helped offset concerns over President Donald Trump’s trade policies, which economists have warned could lead to an economic slowdown.
Investors will follow services data and ADP’s report on private-sector employment later Wednesday for updated information on the strength of the US economy, ahead of Friday’s nonfarm payrolls report."

In REIT News

With no headlines today, I thought I would share this comment just published this morning by Commercial Property Executive highlighting sentiment at the NAREIT conference yesterday: “With macroeconomic uncertainties hanging over the CRE industry, it helps to own the best assets in your property class and to have the financial flexibility that comes with high creditworthiness. That was one of the key takeaways from yesterday’s Nareit REITWeek investor conference. Despite tariffs, higher-for-longer interest rates and the threat of stagflation if not recession, REITs maintain their access to cost-effective capital and that’s helping them seize growth opportunities.”

https://www.commercialsearch.com/news/reitweek-special-report-the-resilience-of-reits/

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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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