The Daily REITBeat | Tuesday, January 20th, 2026

"Tariffs in the Vineyard"

Author

David Auerbach
January 20, 2026

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Today’s Newsletter (January 20th, 2026)

Futures deep in the red at the time of this writing as talking heads focus on Davos and President Trump’s speech tomorrow as the battle for Greenland ramps up with tariff threats along with tariffs on champagne.

From Bloomberg

  • "Equities extended their selloff as the standoff between the US and Europe over control of Greenland showed no sign of de-escalation, while heavy selling in Japanese debt rippled through global bond markets.

  • A 1.6% slump in S&P 500 futures from Friday’s close left the benchmark poised to wipe out year-to-date gains. European stocks fell 1.2%, adding to losses after the Stoxx 600’s worst day in two months. Nasdaq 100 contracts sank 1.9%.

  • US President Donald Trump’s push to take control of Greenland has injected fresh volatility into markets, reviving fears of a trade confrontation between traditional allies with little sign of compromise. Adding to tensions, Trump overnight threatened steep tariffs on champagne after French President Emmanuel Macron ruled out joining a US-led peace initiative."

In REIT News

  • Truist Securities upgrades CURB to Buy from Hold (raise price target by $3 to $27)

  • Truist Securities upgrades UDR to Buy from Hold (raise price target by $1 to $42)

  • Truist Securities upgrades PSTL to Buy from Hold (raise price target by $2 to $20)

  • Deutsche Bank upgrades NNN to Buy from Hold (raise price target by $3 to $47)

  • Deutsche Bank upgrades O to Buy from Hold (raise price target by $7 to $69)

  • Deutsche Bank upgrades REG to Buy from Hold (raise price target by $7 to $83)

  • Deutsche Bank upgrades SPG to Buy from Hold (raise price target by $30 to $205)

  • Deutsche Bank upgrades SUI to Buy from Hold (raise price target by $10 to $145)

  • Deutsche Bank downgrades AVB to Hold from Buy (lower price target by $63 to $172)

  • Deutsche Bank downgrades ELS to Hold from Buy (lower price target by $10 to $65)

  • Deutsche Bank downgrades EQR to Hold from Buy (lower price target by $15 to $63)

  • Deutsche Bank downgrades IRT to Hold from Buy (lower price target by $4 to $18)

  • Deutsche Bank downgrades NHI to Hold from Buy (lower price target by $5 to $85)

  • Truist Securities downgrades ELS to Hold from Buy (lower price target by $2 to $66)

  • On Friday, Morgan Stanley downgraded PLD to Equalweight from Overweight (raised price target by $15 to $135)

  • On Friday, Morgan Stanley downgraded AAT to Underweight from Equalweight (lowered price target by $2 to $17)

  • PINE announced the acquisition of a 6,529 sf retail property in downtown Aspen, CO for $10.0 million at an initial cap rate of 8.5% with 1.25% annual escalators

  • On Friday, SITC announced the sale of its partnership interests in the RVIP IIIB joint venture that owns Deer Park Town Center (Deer Park, IL) to its existing joint venture partner for approximately $20.8 million prior to closing costs

  • On Friday, S&P affirmed all of VNO’s ratings, including its “BB+” issuer credit rating and “BBB-“ issue-level rating on its senior unsecured notes along with its “B+” issue-level rating on its preferred stock, and revised its outlook to stable from negative

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Welcome your comments and feedback.

Have a great day!

David Auerbach