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- The Daily REITBeat | Thursday, January 16th, 2025
The Daily REITBeat | Thursday, January 16th, 2025
"Pass the Test?"

Good Morning!
Futures mixed at the time of this writing as talking heads focus on 4Q earnings season, a big slate of economic data coming due this morning and next week’s inauguration.
From Bloomberg
"US stock futures rose Thursday, lifted by a fresh slew of earnings releases and a revival of Federal Reserve policy-easing bets.
Futures contracts for the Nasdaq 100 were up 0.3% while those on the S&P 500 rose 0.1%, setting up Wall Street to extend gains notched in the previous session when US core inflation came in a touch below forecasts. Sentiment got a further boost as Bank of America Corp. posted estimate-beating results, lifting its shares in premarket.
Technology companies including Nvidia Corp. and Super Micro Computer Inc. also rallied after a strong outlook from chipmaker Taiwan Semiconductor Manufacturing Co. reinforced hopes of resilient spending on artificial intelligence. On the downside, shares in UnitedHealth Group Inc. slid more than 4% after revenue fell short of expectations, dragging other health insurers lower.
European shares rose too, buoyed by luxury goods maker Richemont, which reported a jump in jewelry sales. Its results drove an index of European luxury stocks higher by the most since March 2022.
The market’s next test will be US initial jobless claims and retail sales figures due later Thursday. These will provide a broader picture of the health of the economy, with economists forecasting retail sales to have slowed slightly last month.
“What we want to see is pretty much a Goldilocks scenario of decent growth in the US but no strong re-acceleration,” said Amelie Derambure, a portfolio manager at Amundi Asset Management, referring to a scenario where the economy is in good shape but not hot enough to derail interest-rate bets.
“What we don’t want is something too crazy on the retail sales that would put pressure on the Fed,” she added."
In REIT News
UBS initiates PKST with a Buy rating ($15 price target)
Compass Point initiates STRW with a Buy rating ($14 price target)
Baird downgrades PDM to Neutral from Outperform (lower price target by $1 to $10)
NTST announced the closing of $275.0 million in additional financing commitments and amendments to its existing credit facilities agented by PNC Bank, Wells Fargo Bank, and Truist Bank which were also amended to remove certain financial covenants and provide for revised, improved pricing when the Company meets certain investment grade rating and leverage targets
DRH announced that its Board of Directors increased the size of the Board from eight to nine members and appointed Stephanie Lepori to the Board effective January 15, 2025
SAFE closed on a ground lease to facilitate the ground-up development of The Crawford, an affordable housing community in the Roseville area of Sacramento, CA
Yesterday, Fitch Ratings affirmed the ratings for CDP and its limited partnership, including the Long-Term Issuer Default Ratings at “BBB-“, with a stable outlook
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Have a great day!
David Auerbach