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- The Daily REITBeat | Thursday, June 26th, 2025
The Daily REITBeat | Thursday, June 26th, 2025
"Cuts on the Horizon?"
David Auerbach
June 26, 2025
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Futures in the green at the time of this writing as talking heads focus on President Trump’s comments regarding a new Federal Reserve chairperson in the near future which may lead to interest rate cuts faster than expected.
From Bloomberg
"The dollar fell as traders ramped up bets for faster US interest-rate cuts, spurred by a report that President Donald Trump may fast-track his nomination for the next Federal Reserve chief. Stock futures advanced.
A Bloomberg gauge of the greenback dropped 0.3% to the lowest level since April 2022. Treasury yields declined across the curve, with the 10-year rate down two basis points to 4.27%. Markets are pricing 64 basis points of easing from the Fed by the end of the year, compared to 51 basis points at the end of last week, with a 20% chance of a quarter-point cut next month.
The moves followed a Wall Street Journal report that Trump may announce Jerome Powell’s replacement as soon as September, an unusually early appointment that may effectively create a shadow central bank chair with the power to influence sentiment. That has reinforced expectations of a more dovish-leaning Fed, after Trump repeatedly criticized Powell for holding rates steady."
In REIT News
Raymond James “double downgrades” EQIX to Market Perform from Strong Buy
BMO downgrades EQIX to Market Perform from Outperform (lower price target by $195 to $850)
WELL priced $600 million of 4.50% senior unsecured notes due 2030 and $650 million of 5.125% senior unsecured notes due 2035 on behalf of its operating partnership and intends to use the net proceeds for general corporate purposes, including repayment of debt and investment in healthcare and seniors housing properties
SAFE closed on a ground lease and leasehold loan for the ground-up development of a 259-unit multifamily development in the East Village neighborhood of Downtown San Diego noting that the eight-story project will be developed by Riaz Capital, a California-based developer and operator investing on behalf of their Qualified Opportunity Zone fund
KRG announced the release of its annual Corporate Responsibility Report, which provides a comprehensive overview of the Company’s strategy and initiatives regarding corporate responsibility practices and policies plus details progress, measurements, and case studies around the Company’s goals and related operations
ARE released its 2024 Corporate Responsibility Report which is its eighth report underscores the company's groundbreaking sustainability approach and the continued execution of its consequential corporate responsibility platform, which is guided by its important mission to create and grow ecosystems to advance human health
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David Auerbach