The Daily REITBeat | Wednesday, June 25th, 2025

"A Steady Ship?"

From Bloomberg

"US stock futures and Treasuries held firm as traders awaited a second day of testimony from Federal Reserve Chair Jerome Powell after the Nasdaq 100 closed at an all-time high.
S&P 500 contracts were flat. The Nasdaq 100 was set to extend its record run, with index futures rising 0.2%. Oil rebounded following the biggest two-day decline since 2022, with Brent crude trading 0.8% higher near $68 a barrel. The dollar posted small gains.
Treasuries were little changed after the benchmark 10-year yield shed five basis points Tuesday, as Powell’s comments before House lawmakers and weak consumer data boosted bets on the pace of rate cuts in 2025.
Swap traders are currently pricing in a 15% probability of a quarter-point cut next month, with expectations for at least two reductions by year-end. Powell is due to appear in the Senate on Wednesday."

In REIT News

NNN priced $500 million of 4.60% senior unsecured notes due 2031 and intends to use the net proceeds to repay all of the outstanding indebtedness under its credit facility, to fund future property acquisitions and for general corporate purposes
FCPT announced the acquisition of four Cheddar’s Scratch Kitchen properties located in strong retail corridors in Kentucky (2), Indiana (1), and Virginia (1) for $14.7 million noting that the properties are corporate-operated and under long-term triple net leases and priced at a cap rate in range with previous FCPT transactions

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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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