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- The Daily REITBeat | Monday, August 4th, 2025
The Daily REITBeat | Monday, August 4th, 2025
"Clawing Back"
David Auerbach
August 04, 2025
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Futures in the green at the time of this writing as talking heads focus on Friday’s jobs report and the potential outlook of the Federal Reserve cutting interest rates at the next meeting.
From Bloomberg
"US stocks are poised to claw back some of last week’s steep losses as equity investors pin their hopes on the Federal Reserve to ride to the rescue with interest-rate cuts following Friday’s dismal jobs data.
Contracts for the S&P 500 climbed 0.5% after the gauge had its biggest decline since May on Friday. Nasdaq 100 futures were up 0.7%. Treasuries were steady after yields on 10-year notes dropped 16 basis points Friday. The dollar extended a decline against major peers.
Friday’s tumble on Wall Street — sparked by rising US unemployment and slower job creation — boosted bets on a Fed rate cut to support the economy. Traders rushed into Treasuries despite worries about the inflationary effect of Trump’s tariffs, which have kept policy makers in hawkish mode.
“We’re buyers of pullbacks and bullish the next 12 months,” Morgan Stanley equity strategists led by Michael Wilson wrote in a note. “We think the Fed will eventually transition to cuts. Friday may be all we get to the downside for now; that is, until the next payroll number or other weaker, lagging growth data is potentially revealed.”"
In REIT News
Piper Sandler downgrades AVB to Neutral from Overweight (lower price target by $55 to $200)
Piper Sandler downgrades ESS to Neutral from Overweight (lower price target by $80 to $275)
RBC downgrades EPR to Sector Perform from Outperform (maintain $58 price target)
Wolfe Research upgrades AIV to Outperform from Peer Perform ($10 price target)
On Friday, Morningstar upgraded ESS ($311) and PSA ($318) to Buy from Hold
AHH, CSR, DHC, EQR, LTC, NSA, PSTL, RHP, SBAC, SBRA, SKT, SPG, VNO announce earnings after the close of trading while DEA, NNN, UNIT report earnings tomorrow morning before the open
ELME announced that its Board of Trustees has completed its previously announced formal evaluation of strategic alternatives to maximize shareholder value and the Company has entered into a Purchase and Sale Agreement (the “PSA”) with an affiliate of Cortland Partners, LLC under which Cortland will acquire a 19-asset portfolio from Elme for $1.6 billion in cash subject to certain adjustments which is expected to close in 4Q’25 plus the Board of Trustees approved a plan of sale and liquidation as Elme intends to market for sale its remaining nine multifamily assets as well as Watergate 600 and the company plans to return net proceeds from the closing of the Portfolio Sale transaction between $14.50-$14.82/share
SILA announced the $16.15 million acquisition of two medical outpatient buildings located in Southlake, TX noting that the Portfolio is comprised of one gastroenterology center and one ambulatory surgery center with an overlapping physician group and patient population, benefiting from strong operational synergies due to their complementary uses and proximity to each other
On Friday, SITC announced the sale of Winter Garden Village (Orlando, FL) for $165.0 million and the sale of Deer Valley Towne Center (Phoenix, AZ) for $33.7 million, both prior to closing costs, prorations and other closing adjustments where a portion of net proceeds were used to repay $22.3 million of mortgage debt plus declared a special cash distribution on its common shares of $3.25/share payable on August 29, 2025 to shareholders of record at the close of business on August 15, 2025
On Friday, NNN announced that Joshua P. Lewis has been appointed Executive Vice President, Chief Investment Officer who will be responsible for leading the Company's real estate investments, including structuring, negotiation, and deal execution
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David Auerbach