Various Initiatives and Website Links

Hoya Capital: www.hoyacapital.com 

4800 Partners (REIT IR/Marketing/PR/Story Telling): www.4800partners.com 

All the REIT Jobs Website: www.allthereitjobs.com

B-A-N-D Visual Storytelling: www.b-a-n-d.com/reit

REIT TV: www.reittv.com

Today’s Newsletter (April 7th, 2026)

Futures in the red at the time of this writing as talking heads focus on tonight’s deadline that President Trump has put in place on Iran as investors look for signs of any potential breakthrough as hopes are fading.

In REIT News

• Piper Sandler upgrades CSR to Overweight from Neutral (raise price target by $3 to $72)

• Barclays downgrades PK to Equalweight from Overweight (lower price target by $4 to $9)

• Scotiabank downgrades EQIX to Sector Perform from Outperform (raise price target by $53 to $1050)

• FCPT entered into a new seven-year, $200 million senior unsecured delayed draw term loan facility with a group of lenders from its existing credit facility which matures on April 6, 2033 and $50 million of the Term Loan Facility will be drawn at close and will be used to fund its immediate investment pipeline and other general corporate purposes

• CTRE acquired a senior housing and skilled nursing campus located in Southern California comprising 120 licensed skilled nursing beds and 273 senior housing units plus originated a mortgage loan secured by five skilled nursing communities located in the Midwest comprising approximately 506 licensed beds where the 2 investments totaled $119 million plus also closed on the acquisition of three care homes in the United Kingdom in February for approximately $29.4 million net leased to a talented operator

• EPR announced the closing of six U.S. parks as part of its previously announced acquisition of a seven-park portfolio from Six Flags Entertainment Corporation as the U.S. parks comprise the substantial majority of the $315 million portfolio investment and the remaining property of La Ronde, an iconic park located in Montreal, Quebec, is expected to close in the second quarter of 2026 while Enchanted Parks will operate the six U.S. properties under a long-term master lease, and La Ronde Operations, Inc., will operate La Ronde

• ESRT acquired a newly constructed, 22K sf prime vacant retail asset located at 41-55 North 6th Street in Williamsburg, Brooklyn for $46 million at the end of the first quarter plus closed on a $53.5 million mortgage on 10 Union Square East, a 58,000 sf prime retail asset anchored by a long-term lease with Target

• FVR acquired 10 properties year to date for a purchase price of $33.9 million with a cash yield of 7.49%, a weighted average lease term of 9.4 years, and annual escalators of 1.5% plus sold 5 properties for an aggregate $9.7 million, including 2 occupied properties with a cash yield of 6.89% and a weighted average lease term of 8.0 years

• BNL will be added to the S&P SmallCap 600 prior to the open of trading on Thursday, April 9th

• Yesterday morning, NHP announced the public filing of a registration statement on Form S-11 with the Securities and Exchange Commission relating to a proposed public offering of its shares of Class A common stock where the number of shares of Class A common stock to be offered and the price range and other terms for the proposed offering have not yet been determined and it has applied to list its Class A common stock on The Nasdaq Global Select Market under the symbol “NHP”

Download today’s Daily REIT Beat here!

Welcome your comments and feedback.

Have a great day!

David Auerbach

David Auerbach boasts over two decades of experience in the securities industry, specializing as an institutional trader with a focus on Real Estate Investment Trusts (REITs), Equity and Preferred stocks, MLPs, ETFs, and Closed End Funds.

Based in Dallas, TX throughout his entire career, David currently serves as the Chief Investment Officer for Hoya Capital, managing the Hoya Housing 100 ETF (Ticker: HOMZ) and The High Yield Dividend ETF (Ticker: RIET). Additionally, he acts as a consultant with 4800 Partners focusing on corporate access in the REIT industry.

Previously, David held the position of Managing Director at Armada ETF Advisors, the sub-advisor for the Residential REIT ETF (Ticker: HAUS) and The Private Real Estate Strategy via Liquid REITs ETF (Ticker: REAI).

David's industry journey includes roles at World Equity Group, Esposito Securities, and Green Street Advisors where he got his start in the REIT industry. At Esposito Securities, he played a crucial role in building the REIT/Real Estate platform and worked extensively with institutional investors, Equity REITs, and ETF issuers.

Throughout his career, David has been quoted by reputable publications such as Bloomberg, WSJ, Financial Times, Barron’s, Commercial Observer, Bisnow, CoStar, REIT.com, and GlobeSt.com. He has also made notable appearances as a featured guest on networks like Yahoo Finance, Schwab Network, and Bloomberg.

David holds a BBA in Finance from the University of Texas at Austin (May 1999) and an MBA in Finance from Southern Methodist University (May 2005). He maintains FINRA Series 7, 24, 55, and 63 registrations.

In his leisure time, David is an avid traveler, often found crisscrossing the country in pursuit of attending as many Phish concerts as possible.