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- The Daily REITBeat | Thursday, August 14th, 2025
The Daily REITBeat | Thursday, August 14th, 2025
"Bad News is Good News?"
David Auerbach
August 14, 2025
Retail Advisor Outreach Program
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Futures in the red at the time of this writing as talking heads focus on today’s PPI report and the potential impact on the next Federal Reserve meeting while the Trump/Putin summit lingers.
From Bloomberg
"US stocks were set to pause their advance as investors awaited a new round of economic data for clues on how aggressively the Federal Reserve might cut interest rates, an outlook that has fueled a risk-on rally.
S&P 500 futures were little changed after the benchmark notched a record close for a second straight session. Europe’s Stoxx 600 rose 0.3%. Treasuries extended recent gains, with the yield on 10-year notes dropping two basis points to 4.21%. Bitcoin retreated 1.7% from an all-time high.
A report on Thursday is expected to show an uptick in producer prices, while Friday’s retail sales figures will offer insight on US consumer health as the labor market shows signs of losing momentum. Traders are now fully pricing in a quarter-point cut at the Fed’s September meeting, with some bets leaning toward a larger move following this week’s benign inflation data.
“We’re constructive about the market and that’s been backed up by data and earnings, but we’re certainly not looking to add more at these levels,” said Rory McPherson, chief investment officer at Magnus Financial Discretionary Management. “Bad news is good news as far as retail sales are concerned. But a 50-basis-point cut would seem too reactionary.”"
In REIT News
Mizuho upgrades MAA to Outperform from Neutral (lower price target by $11 to $150)
Mizuho downgrades AVB to Neutral from Outperform (lower price target by $14 to $199)
Freedom Broker upgrades ILPT to Buy from Hold (raise price target by $.90 to $6.70)
GLPI priced $600 million of 5.25% senior notes due 2033 and $700 million of 5.75% senior notes due 2037 on behalf of its operating partnership and intends to use the net proceeds to fund the redemption in full of the 2026 Notes at a redemption price equal to par, plus accrued and unpaid interest to, but not including, the date of redemption, plus a make-whole premium, and any related fees and expenses with any remaining proceeds for working capital and general corporate purposes, which may include funding development and expansion projects at existing and new properties, repayment of indebtedness (including partial redemption of the 2026 Notes), capital expenditures and other general business purposes
FVR announced 2Q Adjusted FFO of $.32/share and tightens 2025 Adjusted FFO guidance to $1.22-$1.24/share from $1.20-$1.26/share
GMRE announced that its Board of Directors approved a $50 million common stock repurchase program and reverse stock split of the Company’s common stock at a ratio of one-for-five effective after the close of trading on September 19th
FCPT announced the acquisition of four newly constructed Burger King properties located in strong retail corridors in Ohio, Kentucky, and Virginia for $8.1 million from Ampler Restaurant Group via sale-leaseback noting that the properties are franchisee-operated under long term, triple net leases with a weighted average 19 years of term remaining and priced at a 6.8% cap rate on rent as of the closing date and exclusive of transaction costs
CSR published its 2024 Environmental, Social, and Governance (ESG) Report, and its inaugural Task Force on Climate Related Financial Disclosures (TCFD) report highlighting the company's commitment to sustainable business practices in the multifamily industry
Yesterday morning, TRNO announced it acquired a portfolio of nine industrial properties containing approximately 720,000 sf on 42.8 acres located in Woodinville, WA on August 12, 2025 for a purchase price of approximately $232.6 million noting that the properties are 91% leased to 26 tenants and the portfolio is part of a multi-market portfolio of approximately 1.2 million sf that includes two buildings in Miami and one building in Northern New Jersey for a total expected purchase price of $426.9 million as the remainder of the multi-market portfolio is expected to be purchased by the company in September 2025 and The estimated stabilized cap rate of the multi-market portfolio is 5.0%
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David Auerbach