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- The Daily REITBeat | Thursday, August 21st, 2025
The Daily REITBeat | Thursday, August 21st, 2025
"The Waiting Game"
David Auerbach
August 21, 2025
**There will be no publication tomorrow. Next daily note is Monday, August 25th**
Retail Advisor Outreach Program
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Send us a message to learn about how we have built out a program to hit advisors and investors around the REIT properties we interact with every single day.
We have done this engagement with a handful of REITs and are in conversation with others to launch direct marketing campaigns.
Futures in the red at the time of this writing as talking heads focus on today’s busy economic calendar and the Jackson Hole symposium kicking off with Chairman Powell speaking tomorrow as investors look for signs on Federal Reserve interest rate policy.
From Bloomberg
"US stock futures pointed to more weakness for tech shares on Thursday after days of selling as investors awaited the Federal Reserve’s gathering at Jackson Hole.
Nasdaq 100 contracts edged 0.1% lower after a two-day selloff that shaved 2% off the index. Nvidia Corp. rose 0.6% in premarket, with Magnificent Seven peers mixed. European stocks dropped 0.3% to snap a three-day winning streak. US Treasuries fell, with the 10-year rate advancing one basis point to 4.30%. The dollar pared early gains.
This week saw pressure on technology stocks, particularly the largest names, amid worries that their sharp rally since April had advanced too quickly. Traders are staying cautious as the Jackson Hole symposium kicks off later today, with investors awaiting Fed Chair Jerome Powell’s speech on Friday for guidance on the path for interest rates.
Markets’ direction today could also be shaped by PMIs, home sales data and Walmart Inc. earnings. For the euro area, the Composite Purchasing Managers’ Index compiled by S&P Global grew at the quickest pace in 15 months as manufacturing exited a three-year downturn.
“What we are currently seeing is profit-taking and a natural flight to quality ahead of Jerome Powell’s speech in Jackson Hole,” said John Plassard, head of investment strategy at Cité Gestion. But “let’s not beat around the bush: this is not the end of tech, and even less so for stocks linked to artificial intelligence.”"
In REIT News
Goldman Sachs upgrades BNL to Buy from Sell (raise price target by $7 to $21)
Goldman Sachs downgrades EXR to Neutral from Buy (lower price target by $23 to $146)
Goldman Sachs downgrades KRC to Sell from Neutral (maintain $33 price target)
Yesterday, Morningstar upgraded DLR to Hold from Sell (maintain $155 price target)
CTO sold its Main Street properties in Daytona Beach, FL for $7.1 million which generated a gain on sale of approximately $1.1 million and as part of the transaction, the Company provided seller financing of $5.0 million for 5 years at an annual rate of 6.50%
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Have a great day!
David Auerbac