The Daily REITBeat | Friday, May 9th, 2025 |
"Double Down?"
- "US stock futures pointed to a third day of gains on Wall Street and German stocks hit a record high, as investors seized on signs that global trade tensions are starting to ease.
- Nasdaq 100 contracts edged up 0.4% and those on the S&P 500 rose 0.3%. Markets also benefited from a slew of positive earnings, with Microchip Technology Inc. gaining almost 10% in premarket trading. Pinterest Inc. shares surged 15% after revenue guidance topped estimates. Software company CloudFlare Inc. and ride-hailing firm Lyft Inc. also advanced after posting robust results. On the downside, travel firm Expedia Group Inc. fell after it cut bookings growth forecasts.
- In Europe, the Stoxx 600 index rose 0.5%, on track for a fourth weekly advance, while Germany’s DAX Index became the first major European gauge to surpass its March record high, recouping all losses sparked by US President Donald Trump’s trade war.
- Meanwhile, the trade optimism lifted Bitcoin as much as 3% to a three-month high, while oil prices extended Thursday’s gain.
- Investors have been heartened by Thursday’s framework US-UK agreement on trade, which Trump said was the first of many deals with other partners. He also signaled that upcoming negotiations with China might result in tangible progress. Representatives of the two nations will hold talks this weekend, with the US administration said to be weighing dramatic tariff reductions.
- “Much of the current rally can be explained by the relief triggered by the pause on tariffs and the US trade deal with the UK. There’s a sense that the worst is behind us in terms of newsflow,” said Thomas Brenier, head of equities at Lazard Freres Gestion in Paris."
- AHR, AIV, BFS, BRT, FRT, OUT, PKST, STRW announced quarterly earnings
- REG priced $400 million of 5.00% senior unsecured notes due 2032 on behalf of its operating partnership and intends to use the net proceeds to (i) reduce the outstanding balance on its line of credit, (ii) for the repayment of the $250 million aggregate principal amount outstanding of the 2025 Notes upon their maturity and (iii) for general corporate purposes, including, but not limited to, the future repayment of other outstanding debt
- FCPT announced the acquisition of three Express Oil Change & Tire Engineers properties located in highly trafficked corridors in Georgia for $9.5 million noting that the properties are corporate-operated under long term, triple net leases with approximately 19 years of term remaining and priced at a 6.6% cap rate on rent as of the closing date and exclusive of transaction costs
- PLD announced that Sarah Slusser was elected to its board of directors at the company’s annual stockholder meeting on May 8, 2025 and noted that Slusser will serve on its Governance and Nomination committee
- Yesterday, Moody’s upgraded STAG’s operating partnership’s backed senior unsecured bank credit facility rating to “Baa2” from “Baa3” and revised its outlook to stable from positive
- Yesterday, Land & Buildings Investment Management announced that independent proxy advisory firm Glass, Lewis & Co., LLC recommended that stockholders vote “FOR” the election of Land & Buildings’ independent nominees – Jim Hoffmann and Adam Troso – to NHI’s Board of Directors at the 2025 Annual Meeting of Stockholders scheduled for May 21, 2025
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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