The Daily REITBeat | Thursday, February 6th, 2025

"So Much to Say"

Good Morning!

Futures mixed at the time of this writing as talking heads focus on the same recent topics such as corporate earnings season, trade tariff impacts, treasury pricing and tomorrow’s January Nonfarm Jobs report.

From Bloomberg

"US stock index futures wavered as heavyweights including Ford Motor Co. and Qualcomm Inc. slumped in premarket trading after disappointing earnings.
S&P 500 futures were little changed after erasing an early gain fueled by Treasury Secretary Scott Bessent’s comment that the Trump administration is focusing on bringing down the Treasury 10-year yield. Contracts on the Nasdaq 100 slipped 0.1%.
Bessent said in an interview with Fox Business on Wednesday that when it comes to the Federal Reserve, “I will only talk about what they’ve done, not what I think they should do from now on.” He repeated his view that expanding energy supply will help lower inflation. But some investors said 10-year yields are unlikely to go much lower while sticky prices and a resilient economy damp expectations of further Fed policy easing.
The 10-year Treasury yield ticked about two basis points higher on Thursday, though it’s still close to a one-month low.
“It is difficult to see the 10-year yield come down a lot unless the economy slows significantly,“ said David Zahn, a senior vice president at Franklin Templeton Investment Management. “If that happens, which isn’t what they want, then I can see 10-year yields going lower.”
More earnings are expected today, with Amazon.com Inc. due to release results after the close. "

In REIT News

AVB, FR, MAA, OHI, REXR, SAFE, TRNO, UDR announced quarterly earnings while CDP, CPT, CUZ, EGP, PECO, PINE, REG announce after the close of trading and KIM announces tomorrow morning before the open
DOC priced $500 million of 5.375% senior unsecured notes due 2035 on behalf of its operating partnership and intends to use the net proceeds to repay borrowings outstanding under its commercial paper program and for general corporate purposes, which may include repaying or repurchasing other indebtedness, working capital, acquisitions, development and redevelopment activities, and capital expenditures
AMT announced that its Board of Directors has elected Rajesh (“Raj”) Kalathur as a director
Yesterday, DEA announced that it has offered recommendations to the leaders of the Department of Government Efficiency (DOGE) in support of their goal to make the General Services Administration (GSA) more efficient

Download The REIT Beat here!

The Daily REITBeat 2-6-25.pdf

Welcome your comments and feedback.

Have a great day!

David Auerbach & Mary Jensen

Subscribe here to receive The Daily REITBeat newsletter every morning.

« More of The Daily REITBeat

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.