The Daily REITBeat | Thursday, December 4th, 2025

"Gearing Up!"

Author

David Auerbach
December 04, 2025

Announcing the Launch of REIT TV!!

Our goal with REIT TV is to bring you all the educational content provided by sources such as Nareit, CNBC, Bloomberg and others so you can create your own customized viewing channel of REIT videos.

Currently, we have over 775 videos in the hopper from the last year or so which represents just under 125 hours of video footage.

New content will be added daily and we are going to be launching a "LIVE" component as we grow the platform.

Please alert us to bugs or if you have suggestions and ideas on how to improve this.

We have a lot of kinks to work out and tags to add to the videos but wanted to start sharing this new channel that benefits the entire REIT industry.

Check out the channel at https://reittv.com/

Today’s Newsletter (December 4th, 2025)

Futures in the green at the time of this writing as talking heads focus on the economic data calendar over the next 2 days and the impact on next week’s Federal Reserve interest rate policy decision as many talking heads forecast another rate cut which will “hopefully” drive a rally into the end of the year.

From Bloomberg

  • "US stock futures held gains as Asian and European equities set the pace on Thursday, with traders betting that a Federal Reserve interest rate cut will drive a global rally into year-end.

  • The S&P 500 was set for a muted open after climbing in seven of the past eight sessions. Europe’s Stoxx 600 rose 0.4% as the auto and retail sectors outperformed. Asian equities pushed to their highest in more than two weeks, led by gains in Japanese heavyweights such as SoftBank Group Corp. 

  • Global bonds weakened, driven by rising yields in Japan. Sentiment shifted as some senior government officials signaled they wouldn’t oppose a Bank of Japan rate hike this month. That reversed an earlier lift from a strong 30-year auction. The rate on 10-year US Treasuries rose two basis points to 4.08%. 

  • Bitcoin, meanwhile, held above $93,000. The dollar was little changed.

  • Fed rate-cut expectations have fueled a broad rebound after November’s slump, with investors turning to defensive and other sectors as worries over stretched tech valuations persist. The small-cap Russell 2000 index is now just shy of a record high, while the Nasdaq 100 remains about 2% below its peak."

In REIT News

  • KeyBanc upgrades BXP to Overweight from Sector Weight ($80 price target)

  • KeyBanc upgrades CURB to Overweight from Sector Weight ($27 price target)

  • KeyBanc upgrades EGP to Overweight from Sector Weight ($200 price target)

  • Colliers Securities upgrades UMH to Buy from Neutral (raise price target by $1 to $17)

  • Colliers Securities downgrades AVB to Neutral from Buy (lower price target by $5 to $195)

  • Colliers Securities downgrades IRT to Neutral from Buy (lower price target by $1.50 to $18.50)

  • Mizuho downgrades EGP to Neutral from Outperform (lower price target by $8 to $172)

  • KeyBanc downgrades BDN, KRC, LXP and REG to Sector Weight from Overweight

  • ESS priced $350 million of 4.875% senior notes due 2036 on behalf of its operating partnership and intends to use the net proceeds to repay upcoming debt maturities, including to fund a portion of the repayment of its $450.0 million aggregate principal amount outstanding of 3.375% senior notes due April 2026, and for other general corporate and working capital purposes which may include the funding of potential acquisition opportunities

  • EQIX announced that CFO Keith Taylor intends to retire in 2026 and will remain as CFO until a successor is selected and then as a Special Advisor to the company for approximately one year to ensure a smooth transition and the Company has initiated the search process for his successor

  • PEB completed the sale of the 752-room Westin Michigan Avenue Chicago in Chicago, IL for $72.0 million to a third party which equates to a 15.6x EBITDA multiple and a 3.5% NOI capitalization rate before consideration of a brand-mandated property improvement plan and other significant capital expenditures

  • CHCT announced the closing of a $29.7 million inpatient rehabilitation facility disposition on November 25, 2025 and the subsequent $28.5 million acquisition of a 100% leased, newly constructed inpatient rehabilitation facility on December 2, 2025 through a 1031 tax deferred exchange

  • Moody’s upgraded KIM operating partnership’s senior unsecured ratings to “A3” from “Baa1”, its backed senior unsecured ratings to “A3” from “Baa1”, backed senior unsecured shelf rating to “(P)A3” from “(P)Baa1” plus upgraded its preferred stock ratings to “Baa1” from “Baa2” and revised its outlook to stable from positive

  • DLR announced that Digital Euro Finco, LLC, a wholly owned indirect finance subsidiary of Digital Realty’s operating partnership, has given notice of its intention to redeem all of its outstanding 2.500% Guaranteed Notes due 2026 on December 18th

  • SAFE announced that on December 1, 2025, the Compensation Committee of its Board of Directors approved the grants of performance-based inducement restricted stock unit awards and time-based award to Mr. Michael Trachtenberg, its new President, covering an aggregate of 853,076 shares of common stock

  • Yesterday morning, TRNO announced that it has commenced construction of Countyline Corporate Park Phase IV Building 35 in Hialeah, FL which is a 220,000 sf 36-foot clear height rear-load industrial distribution building on 10.7 acres with 78 dock-high and two grade-level loading positions and parking for 185 cars which is expected to complete shell construction in the fourth quarter of 2026 and achieve LEED certification and the total expected investment of Building 35 is $55.5 million where the estimated stabilized cap rate is 6.0%

  • Yesterday morning, HPP announced the election of Jon Bortz to the company’s Board of Directors and the retirement of Jonathan Glaser both effective December 2, 2025

  • Yesterday morning, ARE announced that its Board of Directors declared a quarterly cash dividend of $0.72/share for the fourth quarter of 2025, representing a 45% reduction from the dividend declared for the third quarter of 2025 and sees 2026 FFO guidance of $6.25-$6.55/share

Download today’s Daily REIT Beat here!

The Daily REITBeat 12-4-25.pdf823.27 KB • PDF File

Welcome your comments and feedback.

Have a great day!

David Auerbach