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- The Daily REITBeat | Thursday, July 24th, 2025
The Daily REITBeat | Thursday, July 24th, 2025
"Keen For Reassurance"
David Auerbach
July 24, 2025
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Futures mixed at the time of this writing as talking heads focus on many of the same topics as usual including corporate earnings, trade tariffs, commodities/crypto/treasuries and memestock mania. Lots of key economic data coming due this morning as well.
From Bloomberg
"US stock futures were steady as investors sifted through earnings reports, with Alphabet Inc. signaling strong demand for its AI products, while Tesla Inc. posted the biggest revenue decline in at least a decade.
Contracts on the S&P 500 were little changed and Nasdaq 100 futures rose 0.3% after Alphabet projected a $10 billion rise in its capital spending target to keep up in the AI race. The increase helped lift other AI infrastructure stocks in premarket trading, including chipmaker Nvidia Corp. Tesla slumped after CEO Elon Musk warned of difficult times ahead after losing electric vehicle incentives in the US.
As the earnings season picks up pace, investors are keen for reassurance that the record-breaking US rally can continue and that lofty valuations are justified. Europe’s stocks gauge was climbing on Thursday, following reports the US is closing in on an agreement with the European Union to set a 15% tariff for most products.
“We still see some companies being able, especially in the US, to deliver very strong results and so probably valuations are less questionable now,” Claudia Panseri, chief investment officer for France at UBS Wealth Management, told Bloomberg TV. “People were expecting a lot of downside.”"
In REIT News
Wells Fargo upgrades CCI to Overweight from Equalweight (raise price target by $20 to $125)
Yesterday, Morningstar downgraded AMT to Hold from Buy (maintain $243 price target
Yesterday, Morningstar downgraded VNO to Sell from Hold (maintain $31 price target)
BDN, CCI, EGP, EPRT, ESRT, FPI, GTY, NTST, VRE announced quarterly earnings while ALEX, DLR, DOC, GLPI, PECO, PINE, WY announce earnings after the close of trading
CIO entered into a definitive merger agreement with MCME Carell Holdings, LP and MCME Carell Holdings, LLC under which, subject to the satisfaction of the conditions set forth in the Merger Agreement, MCME Carell will acquire (other than shares owned by the Buyer, the Company or their respective affiliates) all of the issued and outstanding shares of the Company for $7.00/share of common stock in cash which represents a premium of 26% to its common stock closing share price on the NYSE on the last trading day prior to the announcement of the Transaction, and a 39% premium to the volume weighted average share price on the NYSE over the previous 90 days
SUI announced that its Board of Directors has appointed Charles D. Young as Chief Executive Officer effective October 1, 2025 as Mr. Young, who will also join the Company’s Board of Directors, succeeds Gary A. Shiffman, who previously announced his planned retirement from the role of CEO and Mr. Shiffman will serve as Non-Executive Chairman of the Board effective October 1, 2025
VRE announced the appointment of Christopher Papa to the Company's Board of Directors effective July 23, 2025 plus announced that Ronald M. Dickerman will be stepping down from the Board effective July 23, 2025
FCPT announced the acquisition of an Ethos Veterinary Health property located in a strong retail corridor in New York for $3.7 million noting that the property is corporate-operated under a triple net lease with approximately five years of term remaining and priced at a 7.5% cap rate on rent as of the closing date and exclusive of transaction costs
Yesterday morning, AMT announced the release of its 2024 sustainability executive report and accompanying indices and supplements, which highlight the Company’s progress across its three sustainability pillars: Environment, Social, and Governance plus highlights its commitment to aligning sustainability with operational excellence and long-term value creation
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Have a great day!
David Auerbach