The Daily REITBeat | Wednesday, January 22nd, 2025

"A Sigh of Relief?"

Good Morning!

Futures in the green at the time of this writing as talking heads focus on corporate earnings, dollar movement, treasuries/crypto, and potential tariff policies.

From Bloomberg

"US equity futures signaled that the strong Wall Street rally of the past two sessions remains on track, lifted by a slew of robust corporate results and signs that US tariffs on trade partners could be less harsh than feared.
Contracts for the tech-heavy Nasdaq 100 rose about 0.9%, spurred by premarket gains in Netflix Inc. and Oracle Corp. A gauge of the dollar touched its lowest in a month, signalling relief that President Donald Trump has held back from slapping harsher penalties on trade partners at the outset of his tenure.
Fears that the new administration’s protectionist policies would derail global growth and spark US inflation had pushed the dollar to a 13-month high earlier in the month and driven up bond yields. Instead, Trump’s first two days in office have largely been supportive of sentiment, as investors zero in on his pro-business policies.
“There was just relief that as of day one, we didn’t get the tariffs that were expected,” said Corinne Lord, a senior investment specialist at St James Place Management. “The question is to what extent we will get them compared to what he’s promised. There is still a lot of nervousness about what might lie ahead.”
The US president said he was still considering a 10% tariff on all goods from China, following a threat to enact tariffs of as much as 25% on Mexico and Canada by Feb. 1. Yet the only actual action he’s taken so far is the call for a review of trade practices that’s due by April 1, potentially giving China and others almost 10 weeks to avert new levies or address his demands."

In REIT News

AHH announced two significant new retail leases at Columbus Village in the Town Center of Virginia Beach district as the Company executed a 14,000 sf lease with a prominent grocer and a 19,000 sf lease with a national sporting goods retailer
BDN announced leasing activity across its portfolio as the Company executed 650,000 sf of leasing activity during the 4Q through yesterday which was the highest in 2024 and 18% higher than the fourth quarter of 2023 as the weighted average lease term for the quarter was 9.4 years with total leasing activity for 2024 at 2.2 million sf
Yesterday morning, PECO announced with Cohen and Steers Income Opportunities REIT, Inc. that it acquired Oak Grove Shoppes, a 142,000 sf grocery-anchored, open-air shopping center located in Orlando, FL and noted that is the second acquisition in a programmatic joint venture targeting $300 million in equity and owned 80% by CNSREIT and 20% by PECO as the center is 91% leased and is anchored by a 48,000 sf Publix grocery store that opened in 2023 and a recently-opened Marshalls along with an array of tenants in the food, healthcare and childcare industries
Yesterday morning, VNO announced that it has become the first major real estate owner, operator and developer to achieve 100 percent LEED® certification across its entire portfolio of inservice buildings as 24.8 million sf across 25 buildings achieving the highest LEED Platinum or Gold ratings

Download The REIT Beat here!

The Daily REITBeat 1-22-25.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.