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- The Daily REITBeat | Friday, March 14th, 2025
The Daily REITBeat | Friday, March 14th, 2025
"Pi Day!"
David Auerbach
March 14, 2025
Good Morning!
Futures at the time of this writing as talking heads focus on gold prices hitting a record high as tariffs and uncertainty continue to loom over the markets.
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From Bloomberg
"Global stocks rose as the threat of a US government shutdown receded, removing at least one element of uncertainty confronting investors. Gold hit a record above $3,000 an ounce amid haven demand.
S&P 500 contracts rose 0.8% as a stopgap funding bill looked set to pass in Congress after Senate Democratic leader Chuck Schumer opted not to block the measure. That’s helped lift the mood after the benchmark index extended its three-week rout beyond 10% on Thursday, the technical threshold for a correction. Futures on the Nasdaq 100 advanced 1.2% with Nvidia Corp. leading premarket gains among the Magnificent Seven tech cohort.
“It looks like the budget bill is still going through despite some opposition from Democrats and this has lifted sentiment in the US and probably there is also some spillover effect to Europe,” Julius Baer & Co. economist Sophie Altermatt said.
“This might be just some reprieve, given we had so many uncertainties with erratic policy moves in the US,” she added. "
In REIT News
Raymond James upgrades CCI to Strong Buy from Outperform (lower price target by $6 to $122)
KeyBanc upgrades CCI to Overweight from Sector Weight ($120 price target)
Yesterday, Colliers Securities downgraded BRT to Neutral from Buy (maintain $20 price target)
CCI announced 4Q earnings plus announced an agreement to sell all of its Fiber segment to EQT and Zayo Group Holdings for $8.5 billion and expects to reduce its annualized dividend to approximately $4.25 per share starting in the second quarter of 2025
CSR announced that Jeff Caira will retire as a trustee, chair of the Nominating and Governance Committee and member of the Audit Committee effective upon the expiration of his annual term at the conclusion of the 2025 Annual Meeting of Shareholders to be held on May 14th
PLYM announced the appointment of Robert O. Stephenson to its Board of Directors who will serve as an independent director and will be a member of the Audit Committee
Yesterday morning, SUI announced that its Board of Directors nominated Mr. Mark A. Denien as an independent director candidate for election at the upcoming annual meeting of shareholders
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Have a great day!
David Auerbach