The Daily REITBeat | Wednesday, April 23rd, 2025
"Substantial Cuts?"
- "Stocks jumped and bonds rose as a wave of relief swept through global markets after the Trump administration defused some of the tension that has rattled investors.
- Wall Street was set to build on the biggest equity gains in two weeks, with S&P 500 futures climbing 2.5% after President Donald Trump allayed fears that he plans to fire Federal Reserve Chair Jerome Powell. Optimism of easing US-China trade tensions added to the risk-on mood.
- Tesla Inc. rose about 7% in premarket trading after Chief Executive Officer Elon Musk said he will pull back from his work with the US government to focus on the electric-vehicle maker. Europe’s Stoxx 600 index marched 1.7% higher.
- Treasuries mostly rallied as worries about threats to Powell’s position faded. A gauge of dollar strength steadied after rallying from a 16-month low. Bitcoin stormed above $90,000 for the first time since early March. Gold fell as demand for havens cooled. Oil extended its rebound."
- Wolfe Research resumes IIPR with an Outperform rating ($57 price target)
- ADC, BDN announced 1Q earnings while EGP, EPRT, GTY, VRE announce earnings after the close of trading and CURB announces tomorrow morning before the open
- VNO announced that the panel appointed to determine the ground rent payable by its subsidiary for the PENN 1 land parcel for the 25-year period beginning June 17, 2023 has determined that the annual rent payable during the current 25-year term will be $15 million and in connection with the panel’s determination, the Company will reverse approximately $17.2 million of rent expense that was previously accrued with respect to this ground lease and, going forward, will accrue based on a $15 million annual rent, pending final resolution of the litigation
- NLOP announced the repayment in full of the $36 million J.P. Morgan mezzanine loan and the sale of two office properties located in Houston, TX and Krakow, Poland leased to Emerson Electric CO. and Nokia Corporation respectively for gross proceeds totaling $9.8 million during March
- WSR announced that it has commenced a strategic redevelopment at Lion Square in Houston’s Asiatown – part of the International Management District – that will transform the Sun Wing Supermarket-anchored center into a vibrant and meaningful cultural hub that pays homage to the city’s expansive Asian community
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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