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- The Daily REITBeat | Monday, May 5th, 2025
The Daily REITBeat | Monday, May 5th, 2025
"Passing The Torch"
David Auerbach
May 05, 2025
Good Morning!
Futures in the red at the time of this writing as talking heads focus on trade tariffs and crude oil as OPEC announced a supply increase as corporate earnings, treasuries, commodities and crypto continue to draw a lot of attention.
Clearly the other big topic is the pending “passing of the torch” as Warren Buffett announced he will retire as CEO by year-end and handing the reigns to Greg Abel.
From Bloomberg
"The dollar weakened and US equity-index futures dropped, threatening to end the S&P 500’s longest winning streak in two decades, as uncertainty about US trade policy hung over markets. Crude oil slumped after OPEC+ announced another supply increase.
A gauge of the greenback declined for a second day and contracts for the S&P 500 retreated 0.7% after President Donald Trump said he had no plans to talk to his Chinese counterpart this week, though he signaled trade deals with other unspecified partners could come soon.
Crude oil plunged as much as 5.1% in New York before paring the decline. Gold advanced, and Treasuries were steady.
Financial markets have steadied in the past two weeks as Trump dialed back his tariffs amid signs that trade talks are progressing, with the S&P 500 rallying for two straight weeks and notching nine successive days of gains. Still, a trade deal with China would be a prerequisite for the US benchmark to sustain the advance, according to strategists at Morgan Stanley led by Michael Wilson.
“Recent cyclical gains in equities don’t change the structural ‘Sell America’ theme,” said Charu Chanana, the chief investment strategist at Saxo Markets in Singapore. “Trade-deal optimism is giving way to the reality of complex, slow-moving negotiations.”
European stocks were steady in subdued trading. Europe’s benchmark Stoxx 600 index has posted nine days of gains through Friday, the longest streak in a year, buoyed by earnings significantly ahead of expectations."
In REIT News
CBL, PK and RLJ announced 1Q earnings
DHC, KRC, LTC, NHI, NSA, O, SBRA, SUI, VNO announce earnings after the close of trading while CLDT, SHO announce tomorrow morning before the open
HHH announced an agreement pursuant to which Pershing Square will today invest $900 million to acquire 9,000,000 newly issued shares of HHH which will enable HHH to become a diversified holding company by acquiring controlling stakes in high-quality, durable growth public and private operating companies while continuing to invest in and grow the Company’s core real estate development and Master Planned Communities business while Pershing Square’s acquisition of $900 million of newly issued shares of HHH common stock for $100.00/share represents a premium of 48% to HHH’s closing share price on Friday, May 2, 2025. Pershing Square will now own 46.9% of HHH shares outstanding and Pershing Square has generally agreed to limit its voting power to 40% and its beneficial ownership to 47%
NHI announced that leading proxy advisory firm Egan-Jones has recommended that stockholders vote on the WHITE proxy card "FOR" ONLY NHI's director nominees - Candice W. Todd, Robert W. Chapin, Jr., James R. Jobe and Robert G. Adams - in connection with its May 21, 2025 Annual Meeting of Stockholders
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Have a great day!
David Auerbach