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- The Daily REITBeat | Friday, July 11th, 2025
The Daily REITBeat | Friday, July 11th, 2025
"An Escalating Battle..."
David Auerbach
July 11, 2025
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Futures in the red at the time of this writing as talking heads focus on trade tariff fallout as markets may move off their highs. Crypto, commodities, treasuries and the other usual suspects in focus as the 10-year hovers around 4.38-4.39%.
From Bloomberg
"US equities were poised to retreat from a record high as US President Donald Trump intensified his trade offensive.
Contracts for the S&P 500 dropped 0.6% after Trump said he plans to impose blanket levies of 15% or 20%. Europe’s Stoxx 600 fell for the first time this week. Nvidia Corp. dropped 0.6% in premarket trading, pulling back after the artificial intelligence-bellwether closed at a $4 trillion valuation.
The dollar strengthened against most major peers, with the yen posting the steepest decline. Treasury yields advanced across the curve. In a sign that some investors were still prepared to take on risk, Bitcoin extended its record rally to nearly $118,000."
In REIT News
Morgan Stanley downgrades FVR to Equalweight from Overweight (lower price target by $3.50 to $13.50)
Morgan Stanley downgrades ADC to Equalweight from Overweight (maintain $75 price target)
Goldman Sachs downgrades MAA to Neutral from Buy (lower price target by $27 to $165)
Yesterday, Fitch Ratings affirmed GLPI and its limited partnership’s Long-Term Issuer Default Ratings and unsecured debt at “BBB-“ with a stable outlook
Yesterday, S&P Global raised RYN’s issuer credit rating to “BBB” from “BBB-“ and removed all ratings from CreditWatch which was placed with positive implications on March 1st
Yesterday morning, OHI announced an update after Genesis Healthcare, Inc. filed for Chapter 11 bankruptcy where the Company elected to commit $8 million to fund 26.7% of the expected debtor-in-possession financing, in order to support sufficient liquidity to effectively operate the facilities during bankruptcy
Yesterday morning, LTC announced an update after Genesis Healthcare, Inc. filed for Chapter 11 bankruptcy whereby on June 3, 2025, the Company received Genesis’ written notice of its exercise of a 5-year extension option, which would extend the term of the lease to April 30, 2031 as the annualized revenue and annualized contractual cash revenue from Genesis were $8.4 million and $9.5 million, respectively, representing 4.5% and 5.1% of it’s annualized revenue and annualized contractual cash revenue, respectively, as of March 31, 2025 and Genesis has paid their contractual rent through July 2025 while it holds $4.7 million of security from Genesis as required by the master lease in a letter of credit
Yesterday morning, VRE announced the amendment of its $500 million credit facility established in April 2024 as the transaction reflects its continued progress in advancing its 2025 corporate plan to sell non-strategic assets and reduce leverage plus also supports the Company's multi-year balance sheet strategy, reducing borrowing costs and positioning it to reduce Net Debt to EBITDA to below 10.0x by year-end 2025 and to below 9.0x by year-end 2026 as the Company completes the contemplated sales plus it completed the $85 million sale of Signature Place and used proceeds from the divestiture to reduce its Term Loan by $80 million to $120 million
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Have a great day!
David Auerbach