The Daily REITBeat | Thursday, September 11th, 2025

"The Last Big Report"

Author

David Auerbach
September 11, 2025

Announced year-to-date investment activity as it has closed on the acquisition of 64 convenience shopping centers for $588.8 million including 34 assets for $309.7 million in the third quarter to date

Today’s Newsletter (September 11th, 2025)

Futures in the green at the time of this writing as talking heads focus on today’s CPI report as the last key economic datapoint ahead of next week’s Federal Reserve meeting. The shocking assassination of Charlie Kirk and the manhunt search dominates today’s news.

24 years since 9/11. Never Forget.

From Bloomberg

  • "Stocks extended gains ahead of Thursday’s highly anticipated inflation report, seen as key to shaping expectations for the Federal Reserve’s interest-rate path this year.

  • Futures for the S&P 500 rose 0.2% after back-to-back all-time highs. European stocks climbed 0.4%, led by construction and retail shares. The dollar firmed. Treasuries held steady, with the 10-year yield at 4.05%.

  • Expectations that the Fed will resume monetary easing this month have soared in recent weeks, as data increasingly point to a US labor market under strain. Wednesday’s surprise decline in producer inflation further bolstered the view that tariffs are not placing excessive pressure on prices.

  • Core CPI, a measure of underlying inflation excluding food and fuel, likely rose 0.3% for a second month, according to the median estimate in a Bloomberg survey. Money markets are currently betting on as many as three quarter-point cuts by December, with some wagers pointing to a jumbo 50-basis-point reduction when the Fed meets next week.

  • A softer-than-expected print could fuel bets on an initial outsized cut, while a stronger reading would bolster the case for more gradual moves.

  • “Even if we do have a bit of a bump in CPI, there is a theory that it can be short-term, driven by tariffs,” said Nataliia Lipikhina, head of EMEA equity strategy at JPMorgan Private Bank. “As long as it is not such a big increase, I don’t think you’ll see a very big negative reaction on the market.”"

In REIT News

  • Truist Securities upgrades AVB to Buy from Hold (lower price target by $6 to $218)

  • Truist Securities downgrades ELME to Hold from Buy (lower price target by $16 to $2)

  • Wells Fargo upgrades WPC to Overweight from Equalweight (raise price target by $4 to $72)

  • Wells Fargo upgrades EPR to Equalweight from Underweight (raise price target by $2 to $56)

  • Wells Fargo downgrades FCPT to Equalweight from Overweight (lower price target by $2 to $27)

  • Moody’s downgraded SVC’s corporate family rating, guaranteed senior unsecured ratings and senior secured rating to “Caa1” from “B3” and lowered its non-guaranteed senior unsecured ratings to “Caa2” from “Caa1” plus revised its outlook to stable from negative

  • CURB announced year-to-date investment activity as it has closed on the acquisition of 64 convenience shopping centers for $588.8 million including 34 assets for $309.7 million in the third quarter to date

  • GOOD announced that it has executed a 10-year, 1-month lease extension with JBT Marel Corporation at its 67,200 sf industrial building in Chalfont, PA noting that JBT Marel is the successor entity following the recently closed acquisition of Marel hf. by John Bean Technologies Corporation

  • Yesterday morning, TRNO announced that it acquired 3 industrial distribution properties containing approximately 509,000 sf on 27.6 acres located in Doral, FL and Kearny, NJ on September 9, 2025 for a purchase price of approximately $194.3 million noting that the portfolio is approximately 36% leased to five tenants and completes a multi-market portfolio acquisition of approximately 1.2 million sf for a total purchase price of $426.9 million as the estimated stabilized cap rate of the multi-market portfolio is 5.0%

  • Yesterday morning, AHR announced the release of its inaugural Corporate Responsibility Report and Task Force on Climate-related Financial Disclosures Report which provides a comprehensive overview of the Company's corporate responsibility program that is driven by the Company's core focus on providing and facilitating high-quality care and high-quality outcomes and key elements include strong governance practices, climate-related risk management, and a commitment to social responsibility

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Have a great day!

David Auerbach