The Daily REITBeat | Wednesday, April 16th, 2025
"Ups and Downs"
- "Tech stocks led a slump in global equities after the Trump administration imposed new restrictions on Nvidia Corp.’s chip exports to China amid deepening trade tensions.
- Nasdaq 100 futures fell 1.5%. Nvidia shares lost about 6% in premarket trading. ASML Holding NV sank more than 7% on lower-than-expected orders, citing weakness in the chip sector. In Europe, the Stoxx 600 Index lost 0.8%. The dollar weakened. Gold set a record high and the Swiss franc rallied.
- Federal Reserve Chair Jerome Powell is expected to give a speech later in the day, and investors will be watching March retail sales data for a reading of consumer sentiment before the tariff turmoil.
- Stocks pared some of the losses in the morning session on signs China may be open to negotiations with the US, sparking some optimism over the possibility of easing trade tensions."
- PLD announced 1Q Core FFO of $1.42/share and affirms 2025 FFO guidance of $5.65-$5.81/share where CEO Hamid Moghadam commented “In the near term, policy uncertainty is making customers more cautious. But over the long term, limited new supply and high construction costs support continued rent growth. We’re confident in the strength and resilience of our business."
- STAG entered into a note purchase agreement to issue $550 million of fixed rate senior unsecured notes in a private placement offering with a weighted average fixed interest rate of 5.65% and a weighted average tenor of 6.5 years noting that the transaction consists of $350 million of 5.50% notes with a five-year term maturing on June 25, 2030; $100 million of 5.82% notes with an eight-year term maturing on June 25, 2033; and $100 million of 5.99% notes with a ten-year term maturing on June 25, 2035
- SMA announced the acquisition of its 40th Canadian location with a state-of-the-art facility in Kelowna, British Columbia noting that the facility is a five-story Class A modern development featuring approximately 74,000 net rentable sf and approximately 800 climate-controlled units
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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