- The Daily REITBeat
- Posts
- The Daily REITBeat | Thursday, May 22nd, 2025
The Daily REITBeat | Thursday, May 22nd, 2025
"Steady the Ship?"
David Auerbach
May 22, 2025
New Daily REITBeat Survey Request
Can we ask you to spend a few minutes filling out this new survey for us please?
We are trying to get a better understanding of our readership and what we should be including in the Daily/Weekly publications!
Good Morning!
Futures in the red off their lows at the time of this writing as talking heads focus on the House passing the tax bill this morning along with the usual suspects like tariffs, commodities, oil, treasuries, the dollar and bitcoin movement.
From Bloomberg
"US bonds and stocks steadied after a volatile day as President Donald Trump’s signature tax bill narrowly passed the House.
Treasuries were little changed after days of losses in which the 30-year yield hit the highest since 2023. S&P 500 futures gained 0.2%. The dollar ended a three-day losing run while Bitcoin pushed further into record territory. Oil declined.
US lawmakers advanced a sprawling multi-trillion dollar package that would avert a year-end tax increase at the expense of adding to the US debt burden. The move comes after a downgrade by Moody’s Ratings thrust concerns over the ballooning deficit into the spotlight.
This has shown up in government bonds, sapping sentiment after an equity rebound put the S&P 500 on the cusp of a bull market.
“Bond vigilantes are back,” Beata Manthey, a strategist at Citigroup Inc., told Bloomberg TV. “The market is worried about debt sustainability. It’s not very helpful, given how strong a rebound we’ve been seeing in equity markets.”"
In REIT News
AMT priced €500 million of 3.625% senior unsecured notes due 2032 and intends to repay existing indebtedness under its $6.0 billion senior unsecured multicurrency revolving credit facility, as amended and restated in December 2021, as further amended, and for general corporate purposes
WY reached an agreement to sell its lumber mill in Princeton, British Columbia, to the Gorman Group, owners of Gorman Bros. Lumber Ltd., a family-owned wood products manufacturer headquartered in West Kelowna, B.C. noting that the purchase price is approximately $120 million CAD in cash, which includes Weyerhaeuser's manufacturing facility, all associated timber license assets in British Columbia and the value of working capital, which will be subject to customary purchase price adjustments at closing
Yesterday, Fitch Ratings affirmed STAG and its operating partnership’s Long-Term Issuer Default Ratings at “BBB” with a stable outlook
Yesterday morning, TRNO announced that it has executed a lease for a 3.0-acre improved land parcel in Rancho Dominguez, CA with a provider of environmental and regulated waste management services noting that the lease commenced on May 20, 2025 and will expire May 2028
Yesterday morning, REG released its 2024 Corporate Responsibility Report and Task Force on Climate-Related Financial Disclosures (TCFD)-aligned Climate Risk Report which highlight its ongoing corporate responsibility commitments and provide transparency into its approach to climate-related risks and opportunities
Download today’s Daily REIT Beat here!
|
Welcome your comments and feedback.
Have a great day!
David Auerbach