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- The Daily REITBeat | Friday, February 21st, 2025
The Daily REITBeat | Friday, February 21st, 2025
David Auerbach
February 21, 2025
Good Morning!
Futures mixed at the time of this writing as talking heads focus on UnitedHealth news, earnings from Alibaba ahead of next week’s Nvidia report along with a busy economic calendar and more chatter on tariffs, Russia/Ukraine, treasuries/commodities, etc.
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From Bloomberg
"US equity futures edged higher, with the tech-heavy Nasdaq 100 gaining after strong earnings from Alibaba Group Holding Ltd. fueled optimism over artificial intelligence.
Contracts on the Nasdaq 100 added about 0.3% and US-listed Chinese stocks rose in premarket trading. Still, the gains were capped as digital payments firm Block Inc., software firm Akamai Technologies Inc., and EV maker Rivian Automotive Inc. declined in premarket trading after issuing weak guidance. Futures on the S&P 500 were steady.
US equities are lagging their European and Asian counterparts so far this year, and Bank of America Corp. strategist Michael Hartnett reiterated a preference for global stocks to US peers, seeing markets such as Germany, China, Japan and South Korea as more attractive at a time when business activity is improving. US companies’ profit outlooks for 2025 have also been relatively subdued, strategists at JPMorgan Chase & Co. noted."
In REIT News
Goldman Sachs upgrades TRNO to Buy from Neutral (raise price target by $12 to $77)
Goldman Sachs upgrades FR to Neutral from Sell (raise price target by $7 to $59)
AMH, CTO, GLPI, HPP, PKST, RHP, SHO, VICI announced quarterly earnings
GOOD acquired a 215,474 sf, Class A industrial manufacturing facility in Houston, TX at a weighted GAAP capitalization rate of 8.31%. as the facility was acquired through a long-term sale-leaseback transaction with a 10-year absolute NNN lease
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Have a great day!
David Auerbach