The Daily REITBeat | Monday, March 10th, 2025

"That (Un)easy Feeling"

Author

David Auerbach
March 10, 2025

Good Morning!

Futures deep in the red at the time of this writing as talking heads focus on the same usual topics that have been dragging on the market recently including Trade Tariffs and DOGE cuts with the 10-year hovering around 4.244% and key economic data coming due this week including CPI/PPI reports.

Please Take The Survey?

The Daily REITBeat Newsletter is tailored towards all investors to understand the day-to-day happenings in the world of REITs.

How can I make this newsletter better? Please spend a minute or 2 and fill out this survey?

From Bloomberg

  • "Wall Street stock futures dropped and Treasuries ticked higher as President Donald Trump’s protectionist policies and cuts to the federal workforce dented confidence in US economic outperformance.

  • Contracts for the S&P 500 declined 1%, following the worst week for the benchmark index since September, while those on the Nasdaq 100 lost 1.1%. Shares in Tesla Inc. fell about 3% in premarket trading on Monday, inching toward erasing their post-election gains, and most other Big Tech names also dropped, including AI bellwether Nvidia Corp. European stocks slipped 0.4%.

  • Mounting unease over the potential fallout from trade tariffs and sweeping government job cuts sent 10-year Treasury yields five basis points lower. The key borrowing rate has dropped more than 20 basis points in the past month, signaling risks that the world’s biggest economy will stall. Bloomberg’s dollar index held just shy of four-month lows.

  • Tariffs and Trump’s policies have started having their “fair share of pressures on the equity markets, plus we have now started seeing a lot of concerns around US growth,” Sanford C. Bernstein strategist Rupal Agarwal said on Bloomberg TV."

In REIT News

  • Jefferies upgrades CPT ($139), IRT ($24) and MAA ($190) to Buy from Hold

  • Wells Fargo upgrades HPP to Overweight from Equalweight (maintain $4 price target)

  • Wells Fargo downgrades KRC to Equalweight from Overweight (lower price target by $8 to $35)

  • Truist Securities downgrades UDR to Hold from Buy (raise price target by $1 to $46)

  • Compass Point downgrades HST ($18) and PEB ($15) to Neutral from Buy

  • On Friday, Morningstar upgraded DLR ($144) and SLG ($50) to Hold from Sell

  • SVC announced that Chris Bilotto has been appointed as a Managing Trustee, President and Chief Executive Officer effective March 10, 2025 and succeeds John Murray as Managing Trustee, and Todd Hargreaves as President and Chief Investment Officer, both of whom resigned from their positions with SVC, effective March 9, 2025 noting that neither Mr. Murray’s nor Mr. Hargreaves’s resignations were the result of any dispute with SVC or RMR

  • WSR has commenced a strategic transformation of the merchandising mix at Davenport Village in Austin, TX that is expected to re-energize the center and strengthen its competitive position within the upscale neighborhoods it serves and has signed agreements with several exciting and esteemed brands that are expected to drive engagement and traffic at the center throughout the day, including Starbucks Reserve, Pvolve, RVE Fitness and CUBExec

  • On Friday, S&P announced that RHP will be added to the S&P SmallCap 600 index prior to the open of trading on Monday, March 24th

  • On Friday, WELL announced the launch of its refreshed brand identity and launch of a new website

Download today’s Daily REIT Beat here!

The Daily REITBeat 3-10-25.pdf650.95 KB • PDF File

Welcome your comments and feedback.

Have a great day!

David Auerbach