The Daily REITBeat | Monday, February 23rd, 2026

"Uncertainty Clearly Matters"

Author

David Auerbach
February 23, 2026

Tell Your REIT Story Visually…

Investor expectations are rising.

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Today’s Newsletter (February 23rd, 2026)

Futures in the red at the time of this writing as talking heads focus on the potential impact of a new 15% global tariff following the Supreme Court ruling along with a busy week of earnings capped off by Nvidia’s results and tomorrow’s State of the Union address.

From Bloomberg

  • "US stock futures fell as uncertainty over American trade policy clouded sentiment. The dollar recouped losses while precious metals advanced.

  • S&P 500 futures dropped 0.5%, with investors assessing the possible impact of a new 15% global tariff after the Supreme Court struck down President Donald Trump’s emergency levies. The greenback erased a 0.3% decline to rise 0.1%. Gold added to a run of three weekly gains. Bitcoin briefly slid below $65,000.

  • The latest questions over tariffs are giving traders another focal point in markets that have been grappling with concerns about artificial intelligence and tensions in the Middle East. Investors will also closely follow Trump’s State of the Union address on Tuesday and Nvidia Corp.’s earnings the following day."

In REIT News

  • KeyBanc upgrades MAC to Overweight from Sector Weight ($25 price target)

  • DEA, VRE announced quarterly earnings while APLE, IIPR, RHP, SBAC announce after the close of trading and AMT, NXRT, XHR announce tomorrow morning before the open

  • VRE entered into a definitive merger agreement to be acquired by an investor consortium led by Affinius Capital in partnership with Vista Hill Partners, in an all-cash transaction for $19/share which represents an implied enterprise value of $3.4 billion and reflects a 23.2% premium to its unaffected closing share price on February 4, 2026, and a 27.5% premium to the Company's 30-day volume weighted average price for the period ended February 4, 2026

  • SVC announced that its wholly owned subsidiaries have priced $745 million in principal amount of net lease mortgage notes in a transaction exempt from registration from the Securities Act of 1933 comprised of $220.0 million of 5.157% of AAA rated notes, $375.0 million of 5.795% of AA rated notes and $150.0 million of 7.549% of BBB rated notes which are expected to mature in March 2031

  • On Friday, SMA announced the appointment of Wayne Johnson to its Board of Directors noting that Mr. Johnson currently serves as its Chief Investment Officer

  • On Friday, Moody’s affirmed INVH’s “Baa2” senior unsecured debt rating, Baa2 backed senior unsecured debt rating, “(P)Baa2” senior unsecured shelf rating, and “Baa2” long-term issuer rating with a stable outlook

  • On Friday, Moody’s affirmed AMH’s “Baa2” senior unsecured rating, “Baa2” backed senior unsecure rating, “(P)Baa2” backed senior unsecured shelf rating, “(P)Baa3” backed subordinate shelf rating, and “(P)Baa3” backed preferred shelf rating plus affirmed its “Baa2” long-term issuer rating and “Baa3” preferred stock rating with a stable outlook

  • On Friday, SPG announced that David Simon has resigned from the Klépierre S.A. Supervisory Board effective February 19, 2026

  • On Friday, TRNO executed a lease for 66,000 sf in Rancho Dominguez, CA with a manufacturer and distributor of laboratory reagents, stains and disinfectants noting that the lease will commence June 1, 2026, immediately after the current lease expires, and will expire September 2036

Download today’s Daily REIT Beat here!

The Daily REITBeat 2-23-26.pdf940.87 KB • PDF File

Welcome your comments and feedback.

Have a great day!

David Auerbach