The Daily REITBeat | Wednesday, March 5th, 2025

"A Tariff Shift?"

Good Morning!

Futures in the green at the time of this writing as talking heads focus on President Trump’s address last evening and then the follow-up actions where some tariffs may be walked back. Jobs data coming into focus the next couple of days as well.

From Bloomberg

"US stock futures pointed to gains on Wall Street amid hopes President Donald Trump’s administration might walk back some of its tariffs. European equities surged and bunds tumbled on Germany’s spending plans.
Contracts on the S&P 500 index rose 0.4% and Nasdaq 100 futures gained 0.5% as shares of automakers, banks and chip firms jumped in premarket trading after US Commerce Secretary Howard Lutnick hinted at tariff relief for Mexico and Canada. Goldman Sachs Group Inc. and Citigroup Inc. rose more than 1%, while Tesla Inc. was poised to recover from a four-month low.
US equities capped their worst two-day slump since December on Tuesday, before the comments from Lutnick, who told Fox Business that Trump may offer a path to alleviate some tariff pressure. Traders will be watching data due later today for a snapshot of the state of the economy.
“The market doesn’t like uncertainty and tariffs will most likely continue to be an overhang risk,” Nataliia Lipikhina, EMEA equity strategy head at JPMorgan Private Bank, said on Bloomberg TV. “But if we are looking at earnings growth in the US, we actually see double-digit growth in 2025 and 2026. We are buyers of the dip at this point.”
In an address to Congress, Trump acknowledged that there may be an “adjustment period” to tariffs as he defended his policies to remake the US economy. Ten-year Treasury yields traded steady at 4.24%, while the dollar sank 0.4%."

In REIT News

Scotiabank downgrades CUBE to Sector Perform from Sector Outperform (lower price target by $6 to $46)
SILA Announced the $35.12 million acquisition of an inpatient rehabilitation facility located in Knoxville, TN noting that the 70,000 sf facility that was built in 2021 is a 57-bed, inpatient rehabilitation facility offering programs to provide care and therapy for neurological rehabilitation, stroke rehabilitation, brain injuries, spinal cord injuries, amputation, and orthopedics which is fully leased to Knoxville Rehabilitation Hospital, LLC, a joint venture between the University of Tennessee Medical Center, Lifepoint Health, and an affiliate of Community Health Systems, Tennova Healthcare

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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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