The Daily REITBeat | Wednesday, May 14th, 2025
"Small Moves...Calmed Nerves?"
- "US stock futures and Treasuries posted small moves, with investors signaling that the equity rally is losing momentum as it stretches into a fourth week. The dollar fell.
- S&P 500 contracts were little changed after the index closed at the highest since February. The dollar weakened 0.4% after a person familiar with the matter said the US and South Korea discussed their currency policies in early May, fueling speculation President Donald Trump’s administration is open to a weaker greenback. The 10-year Treasury yield declined two basis points to 4.45%.
- With a rapid comeback in equities leaving the S&P 500 now flat for the year, Wall Street strategists have been skeptical about how much further stocks can run. Goldman Sachs Group Inc. strategist Peter Oppenheimer warned that equities remain vulnerable if deteriorating economic data reignites recession worries.
- “Investors got very bearish in April, missed the market rebound and then were forced to chase it,” said Lilian Chovin, head of asset allocation at Coutts & Co. With focus shifting to the impact of tariffs, he’s using the rebound to take some profit and reduce his equities overweight."
- Oppenheimer initiates DLR with an Outperform rating ($200 price target)
- FRT announced the sale of Levare, a 108-unit Class A residential building located within Santana Row in San Jose, CA for $74 million
- FSP announced that its Board of Directors has initiated a review of strategic alternatives in order to explore ways to maximize shareholder value which will include a range of potential strategic alternatives, including a sale of the Company, a sale of assets, and a refinancing of existing indebtedness, among others
- NHI issued a statement regarding a May 12th report by Institutional Shareholder Services (ISS) noting that “We strongly disagree with ISS’ recommendation which we believe would disrupt the momentum that NHI, under the guidance of our Board, has created to capitalize on the significant growth opportunity in the senior housing industry and that has resulted in outperformance by NHI compared to our relevant peer group. Robert G. Adams and James R. Jobe possess the critical experience and skills that NHI needs right now and that are key to continuing to deliver superior shareholder returns” and urges shareholders to vote the WHITE proxy card for all of its recommended nominees at the May 21st Annual Meeting
- Moody’s affirmed AMT’s “Baa3” senior unsecured rating and “(P)Baa3” senior unsecured shelf rating plus revised its outlook to positive from stable
- Yesterday, Moody’s upgraded EPRT’s limited partnership’s issuer rating and backed senior unsecured rating to “Baa2” from “baa3” and its backed senior unsecured shelf rating to “(P)Baa2” from “(P)Baa3” and revised its outlook to stable from positive
- Yesterday morning, Fitch Ratings upgraded the Long-Term Issuer Default Ratings of CTRE and its limited partnership to “BBB-“ from “BB+” with a stable outlook
- Yesterday morning, OHI announced with Sunbound a strategic partnership where Omega’s extensive network of operator partners will receive preferred access and pricing to Sunbound’s industry-leading payments, accounts receivable and financing solutions plus Omega Healthcare Investors will also take an equity stake in Sunbound signaling a strong commitment and shared vision for the future of senior living technology
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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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Last updated: 2025-07-01 - v0.3