The Daily REITBeat | Friday, July 25th, 2025

"A Winding Path"

Author

David Auerbach
July 25, 2025

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Today’s Newsletter (July 25th, 2025)

Futures in the green at the time of this writing as talking heads focus on earnings, tariffs and trade deals, Federal Reserve meeting ahead next week and a busy economic calendar over the next few days.

From Bloomberg

  • "Stocks posted small moves at the end of a record-setting week after lackluster results from Intel Corp. and Puma SE. The dollar advanced.

  • S&P 500 futures were little changed, while Europe’s Stoxx 600 benchmark dropped 0.3%. Intel sank more than 5% in premarket trading and Puma tumbled as much as 19% after slashing its profit forecast. The MSCI All Country World Index snapped a seven-day run of gains. 

  • Traders are hitting pause on a rally that took the S&P 500 to its 10th record high in 19 days amid optimism around trade deals and corporate earnings. Next week is the busiest of the earnings season and investors are looking to the Federal Reserve’s interest-rate meeting on July 30 after data reduced the case for further cuts. 

  • “Markets now see a greater chance that the Fed Chair will maintain a hawkish tone at the upcoming meeting,” said Hebe Chen, an analyst at Vantage Markets in Sydney. “Political dynamics and economic indicators reinforce a more cautious Fed stance.”

  • Ten-year US Treasury yields rose two basis points to 4.42% and a gauge of dollar strength advanced 0.3%."

In REIT News

  • Scotiabank upgrades SLG to Sector Outperform from Sector Perform (maintain $71 price target)

  • Janney downgrades CIO to Neutral from Buy (raised price target by $1 to $7)

  • ALEX, DLR, DOC, GLPI, PECO, PINE announced quarterly earnings

  • NTST priced an upsized public offering of 10,800,000 shares of its common stock at $17.70/share raising gross proceeds of $191.16 million in connection with a forward sale agreement on behalf of its operating partnership and intends to use the net proceeds for general corporate purposes, which may include the repayment of amounts outstanding from time to time under the Company’s revolving credit facility, and funding of acquisitions of properties and development activities in the Company’s pipeline

  • SAFE closed on a ground lease for the development of an Affordable Housing community in the Mission Valley area of San Diego, CA as the Low-Income Tax Credit development will provide 227 total units upon delivery in 2028 and the project will be developed by The Pacific Companies, a prolific developer of Affordable Housing and repeat Safehold customer

  • EQR announced the appointment of Chris Carr to the Company’s Board of Trustees to serve until the next annual meeting of shareholders as Mr. Carr qualifies as an independent trustee under the New York Stock Exchange’s listing standards plus he will serve on the Company’s Audit and Corporate Governance Committees and with this appointment, the Company’s Board will increase to 11 members, nine of whom are independent

  • BNL added three new development projects to its pipeline of build-to-suit commitments as these projects represent an aggregate estimated total project investment of approximately $61.4 million

  • Fitch Ratings affirmed SKT and its limited partnership’s Long-Term Issuer Default Rating at “BBB” with a stable outlook

  • Yesterday morning, REG announced the acquisition of a portfolio of five premier suburban shopping centers, all located within the 23,000-acre Rancho Mission Viejo master-planned community in Orange County, CA which consists of Bridgepark Plaza, Mercantile West, Mercantile East, Terrace Shops, and Sendero Marketplace, comprising close to 630,000 sf in aggregate for $357 million

Download today’s Daily REIT Beat here!

The Daily REITBeat 7-25-25.pdf683.85 KB • PDF File

Welcome your comments and feedback.

Have a great day!

David Auerbach