The Daily REITBeat | Tuesday, May 6th, 2025
"Damaging Impact?"
- "Global stocks fell as a slew of corporate statements reinforced concerns about the trade war’s damaging impact on companies and the world economy.
- Contracts on the S&P 500 slid 0.7%, while those on the Nasdaq 100 dropped 0.9%. Palantir Technologies Inc. fell about 8% in premarket trading after the software firm’s results failed to meet investors’ expectations. Ford Motor Co. slipped 2.6% after the carmaker pulled its financial guidance and flagged a tariff impact of about $2.5 billion on 2025 earnings. Tesla Inc. and Meta Platforms Inc. led declines among the Magnificent Seven tech megaps.
- In Europe, companies such as Royal Philips NV and Vestas Wind Systems A/S warned of uncertainty fueled by President Donald Trump’s trade tariffs. The Stoxx 600 benchmark snapped a 10-day run of gains to drop 0.6%, its losses accelerating after incoming German chancellor Friedrich Merz failed to win parliamentary backing to confirm him in his role. The setback came as a shock, but Merz is expected to be eventually elected.
- The moves suggest that a recent burst of optimism fueled by some US trade concessions may already be fading. On Monday, the S&P 500 halted a nine-day rally that was its longest in about 20 years. While Ford’s warning served as a reminder that damage from the tariff war will become evident over the coming months, a run of firm economic data in recent days has caused traders to dial back bets on Federal Reserve interest-rate cuts."
- BofA downgrades FVR to Neutral from Buy (lower price target by $3 to $15)
- BofA downgrades LINE to Neutral from Buy (lower price target by $21 to $49)
- CLDT, DHC, KRC, LTC, NHI, NSA, O, SBRA, SHO, SUI, VNO announced quarterly earnings while AHT, DEI, SVC announce after the close of trading and MDV announces tomorrow morning before the open
- VNO completed a master lease with New York University to lease 1,076,000 sf at 770 Broadway, on an “as is”, triple net basis for a 70-year lease term where under the terms of the master lease, a rental agreement under Section 467 of the Internal Revenue Code, NYU made a prepaid lease payment to Vornado of $935 million and will also make annual lease payments to Vornado of approximately $9.3 million during the lease term.
- AHH reached an agreement with its joint venture partner, Beatty Development Group, to acquire full ownership and control of Allied | Harbor Point, a 312-unit multifamily asset located in Harbor Point Baltimore noting that it will acquire the partner’s minority interest in the property, transitioning from joint venture ownership to sole ownership and the acquisition is expected to close in June, subject to customary closing conditions
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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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Last updated: 2025-07-01 - v0.3