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- The Daily REITBeat | Monday, June 9th, 2025
The Daily REITBeat | Monday, June 9th, 2025
"More Catalysts?"
David Auerbach
June 09, 2025
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Futures in the green at the time of this writing as talking heads focus on this week’s CPI/PPI reports coming due along with recent market performance in the wake of tariff volatility as US/China trade talks resume.
From Bloomberg
"Stock futures advanced on Monday as investors set out to monitor talks between the US and China in London for signs that trade tensions between the two biggest economies might be cooling.
S&P 500 contracts rose 0.2% after the main gauge broke through the 6,000 level for the first time since February at the end of last week. Chinese shares trading in Hong Kong entered a bull market. A gauge for emerging-market equities was set for its highest close in more than three years. European stocks edged lower.
The US stock benchmark is nearing an all-time high after shaking off the volatility that followed President Donald Trump’s sweeping tariff announcements two months ago. Still, traders are searching for catalysts for sustained advances, as the full economic impact of the trade war has yet to fully manifest and key trade-related questions remain unresolved."
In REIT News
BNP Paribas Exane upgrades WPC to Neutral from Underperform (raise price target by $3 to $66)
BMO downgrades APLE to Market Perform from Outperform (lower price target by $2 to $12)
Wolfe Research downgrades EQIX to Peer Perform from Outperform
SHO announced that it has completed the sale of the 252-room Hilton New Orleans St. Charles for a gross sale price of $47 million (~ $187,000/key) which represents a 10.1x multiple on 2024 Hotel Adjusted EBITDAre and an 8.7% cap rate on 2024 Hotel Net Operating Income
PDM announced the launch of its new brand identity including a name change to Piedmont Realty Trust, Inc noting that the rebrand was undertaken to better reflect the company’s focus on Piedmont PLACEs which are designed to elevate the workday and reflect a higher standard of service for its clients
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David Auerbach