The Daily REITBeat | Thursday, April 17th, 2025

"No with an Exclamation Point"

Author

David Auerbach
April 17, 2025

Good Morning!

Futures mixed at the time of this writing as talking heads focus on Chairman Powell’s comments yesterday in Chicago along with President Trump’s comments this morning plus potential good signs from initial US-Japan trade talks as the 10-year hovers over 4.30%.

From Bloomberg

  • "US stock futures trimmed an advance after President Donald Trump berated Federal Reserve Chair Jerome Powell for being slow to cut interest rates.

  • S&P 500 contracts were 0.5% higher, well off their highs for the session, with a slump in health insurers also weighing on sentiment. Nasdaq 100 futures gained 0.5%, supported by an upbeat sales forecast from Taiwan Semiconductor Manufacturing Co., the world’s biggest chipmaker. 

  • Futures had climbed earlier as positive signals from initial US-Japan trade talks stirred optimism agreements can be reached to avoid higher levies on American trading partners. Europe’s Stoxx 600 index fell 0.6% as investors awaited an expected rate cut from the European Central Bank."

In REIT News

  • FR, REXR, SLG announced 1Q earnings and each maintained 2025 guidance

  • ESRT signed a 77,382 sf renewal lease with Gerson Lehrman Group, Inc. (GLG) – a financial and global information services consulting company – at One Grand Central Place which now occupies two full floors overlooking Vanderbilt Plaza

  • ALEX announced the execution of a 75-year ground lease for 4.7 acres at its Maui Business Park Phase II project in Kahului, Maui noting that the lease agreement is with a prominent self-storage developer

  • SILA announced the $23.5 million acquisition of an inpatient rehabilitation facility located in Dover, DE noting that it is a 34-bed, inpatient rehabilitation facility offering comprehensive inpatient and outpatient care programs from physical and occupational therapies to speech and cognitive treatments and the approximately 42,000 sf facility was built in 2019 which is fully leased to a joint venture between Bayhealth Medical Center, Inc. and a subsidiary of Post Acute Medical, LLC

  • AHT expects to report Occupancy of approximately 68% for the first quarter of 2025 with Average Daily Rate of approximately $196 resulting in RevPAR of approximately $133 as this Comparable RevPAR reflects an approximate increase of 3.2% compared to the first quarter of 2024 and for the month of January 2025, Comparable RevPAR increased approximately 3.8% versus January 2024 while for the month of February 2025, Comparable RevPAR increased approximately 4.3% versus February 2024 and for the month of March 2025, Comparable RevPAR increased approximately 1.9% versus March 2024

  • Yesterday, Fitch Ratings affirmed the Long-Term Issuer Default Ratings of TRNO and its operating subsidiary at “BBB+” with a stable outlook

  • Yesterday, Fitch Ratings affirmed NHI’s ratings, including its “BBB-“ Long-Term Issuer Default Rating and senior unsecured debt rating with a stable outlook

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Welcome your comments and feedback.

Have a great day!

David Auerbach