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- The Daily REITBeat | Friday, August 29th, 2025
The Daily REITBeat | Friday, August 29th, 2025
"Face Plant?"
David Auerbach
August 29, 2025
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Futures in the red at the time of this writing as talking heads focus on today’s PCE report as tech stocks drag the markets lower ahead of the long-holiday weekend. Next week brings the August Nonfarm Payrolls report with a Federal Reserve meeting looming in the next couple of weeks.
From Bloomberg
"Technology stocks pulled equity markets lower Friday as traders cut risk ahead of US inflation data that may test expectations for the pace of Federal Reserve interest rate cuts.
Futures for the Nasdaq 100 fell 0.5%. Alphabet Inc. dropped 1.2% in premarket trading, leading losses among the Magnificent Seven giants. Dell Technologies Inc. slumped more than 6% after reporting slower sales of artificial intelligence servers. S&P 500 contracts retreated 0.3% from Thursday’s all-time high.
Longer-dated US Treasuries fell, with the yield on 30-year notes rising three basis points to 4.90%. The dollar advanced 0.2%, putting it on track to snap a run of three weekly losses. In Europe, the Stoxx 600 pulled back 0.4% while bond markets weakened across the board amid ongoing political turmoil in France.
Friday’s personal consumption expenditures report comes a week after Fed Chair Jerome Powell’s dovish tilt at Jackson Hole bolstered bets on the first rate cut of the year next month. Still, doubts linger over what follows that move, with inflation stuck above target. Swaps are pricing two quarter-point cuts this year and another two by June.
The report is expected to show core PCE — the Fed’s preferred gauge for tracking inflation — rising 2.9% in July from the year before, the fastest pace in five months. Policymakers will have to balance higher price pressures with data next week that’s expected to show a rise in unemployment.
“Some profit-taking is healthy as the AI theme has been playing out for some time,” said François Rimeu, senior strategist at Credit Mutuel Asset Management in Paris. As for economic data, “if the labor market is really heating up, then that could lead to some repricing.”"
In REIT News
Yesterday, Freedom Broker initiated OLP with a Buy rating ($26 price target)
MPW announced a lease agreement with NOR Healthcare Systems Corp. in conjunction with its successful bid for Prospect Medical Group’s California operations as the six facilities will be subject to a master lease with initial annualized rent of $45 million and CPI-based annual rent escalators beginning in 2026 plus the company has committed to fund up to $60 million in seismic improvements as may be required by California regulators over the next four years which will increase the lease base and result in additional rent at the prevailing lease yield
FCPT announced the acquisition of a Patient First Urgent Care property located in a strong retail corridor in Pennsylvania for $6.6 million and noted that the property is corporate-operated under a long-term triple net lease which priced at a cap rate in range with previous transactions
PINE announced the origination of a 24-month $24.0 million fully-funded first mortgage loan investment with an interest rate of 11.0% which will fund the redevelopment of a former retail building comprising 127,380 sf on 8.7 acres into an industrial asset located in the East Bay submarket of San Francisco, CA
Yesterday, S&P Global affirmed OHI’s “BBB-“ issuer credit and issue-level ratings on the company with a stable outlook
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David Auerbach