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- The Daily REITBeat | Thursday, March 13th, 2025
The Daily REITBeat | Thursday, March 13th, 2025
"Slip and Slide?"
David Auerbach
March 13, 2025
Good Morning!
Futures in the red at the time of this writing as talking heads await more inflation data with today’s PPI report following yesterday’s somewhat better than expected CPI report.
With the Fed meeting in the near future, do we see a potential interest rate cut in the cards? Several commentators have been speculating 3 rate cuts in 2025.
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From Bloomberg
"US stock futures erased earlier sharp losses as investors waited to see if wholesale inflation data due later would confirm signs that price growth is slowing.
S&P 500 and Nasdaq 100 contracts fell less than 0.1%, after gains on Wednesday spurred by a softer-than-expected inflation print. While weak earnings hit software firm Adobe Inc. and clothing retailer American Eagle Inc. in premarket trading, Intel Inc. jumped as much as 11% after the chipmaker named a new chief executive officer.
European equities rose about 0.5%, continuing their year-to-date outperformance over US peers. Gold was the other notable mover, with prices rising toward record highs as several banks predicted further gains for the haven asset amid the escalation in global trade tensions.
The previous day’s CPI reading “has reinvigorated belief in the declining inflation narrative,” said Daniel Murray, CEO of EFG Asset Management in Zurich.
Investors are now awaiting readings on US wholesale inflation and initial jobless claims, with price growth seen moderating to 0.3% last month."
In REIT News
Mizuho upgrades INVH to Outperform from Neutral (raise price target by $3 to $36)
Deutsche Bank upgrades CTRE to Buy from Hold (raise price target by $4 to $31)
Truist Securities downgrades FRT to Hold from Buy (lower price target by $9 to $105)
AHH announced that its Board of Directors cut the company’s regular quarterly cash dividend by 32% to $0.14/common share from $.205/common share payable in cash on April 3, 2025 to stockholders of record on March 26, 2025
HHH announced an extension to the previously announced standstill agreement with Pershing Square Capital Management L.P. which will now remain in effect until April 7th, 2025 unless further extended
AHT announced reductions in corporate administrative and general expenses that currently are expected to deliver more than $18 million in incremental EBITDA as part of its ongoing efforts to enhance EBITDA and improve financial performance as this strategic move is a key component of "GRO AHT," the Company's transformative initiative designed to drive $50 million in annual run-rate EBITDA improvement and significantly increase shareholder value
S&P placed RYN’s ratings on CreditWatch with positive implications which reflects its view that the New Zealand JV stake sale will materially reduce leverage, with a portion of the proceeds expected to be used to repay debt following the close of the transaction which is expected to occur in 2025
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Have a great day!
David Auerbach