The Daily REITBeat | Wednesday, February 12th, 2025

"On the Hunt for Clues"

Good Morning!

Futures mixed at the time of this writing as talking heads focus on today’s CPI data along with corporate earnings, treasuries, tariffs and Chairman Powell’s testimony for the second day on Capitol Hill.

From Bloomberg

"US equity futures contracts kept to narrow ranges as traders looked forward to a key US inflation print later for clues on the outlook for interest-rate cuts.
S&P 500 futures slipped 0.1%. European stocks were supported by positive earnings news. An index of Asian shares advanced.
Treasury yields edged higher, with the 10-year adding a basis point to 4.55%. Yields have been elevated since data late last week showed a healthy US labor market and supported the Federal Reserve’s patient stance on any further rate reductions. An index of dollar strength edged higher.
The stakes for markets are high going into Wednesday’s consumer price index numbers. Economists expect so-called core CPI excluding food and energy to rise 0.3% from the previous month in January, picking up from an increase of 0.2% in December.
“We have to watch 10-year Treasury yields very carefully,” said Kenneth Broux, a strategist at Societe Generale in London. Hotter-than-expected inflation could easily push the yield to 4.60% “and the whole risk-on trade will be back on hold,” he said."

In REIT News

ADC, AKR, FSP, HIW, IVT, KRG, UE, WELL, WPC announced quarterly earnings while CTRE, EPRT, EQIX, FCPT, GTY, IRT, STAG, VTR announce after the close of trading and IRM, LXP announce tomorrow morning before the open
PINE announced that its Board of Directors approved a new $10 million common stock repurchase program noting that the program does not require the Company to repurchase any dollar amount or number of shares of Common Stock and may be suspended or discontinued at any time

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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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