The Daily REITBeat | Wednesday, March 12th, 2025

Good Morning!

Futures in the green at the time of this writing as talking heads set the stage for today’s CPI report ahead of tomorrow’s PPI following another deep selloff in the markets. 10-year hovers near 4.30% ahead of the CPI print.

In REIT News

BNP Paribas Exane upgrades MPW to Outperform from Neutral (raise price target by $4 to $9)
Raymond James upgrades RYN to Outperform from Market Perform ($31 price target)
AMT priced $650 million of 4.90% senior unsecured notes due 2030 and $350 million of 5.35% senior unsecured notes due 2035 and intends to use the net proceeds to repay the 2.400% Notes, to repay existing indebtedness under the 2021 Multicurrency Credit Facility and the 2021 Credit Facility, and for general corporate purposes
GNL announced the appointment of Leon C. Richardson to its Board of Directors effective March 7, 2025
WSR announced that it has signed a lease with The Picklr, the world’s fastest-growing operator of indoor pickleball facilities, to open a 20,909 sf location at Terravita Marketplace in Scottsdale, AZ
BRT announced that the Board of Directors approved the extension of the Company’s share repurchase program through December 2026 and increased the value of the shares to be repurchased to $10 million

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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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