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- The Daily REITBeat | Tuesday, July 1st, 2025
The Daily REITBeat | Tuesday, July 1st, 2025
"Wrangle On"
David Auerbach
July 01, 2025
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Futures in the red at the time of this writing as talking heads focus on 1st half of 2025 market performance along with the usual topics like trade tariffs, Israel/Iran conflict, and the “big beautiful bill”.
From Bloomberg
"US equity futures retreated slightly after the S&P 500 notched its best quarter since 2023, as investors monitor progress on trade talks and wrangling in Washington over President Donald Trump’s tax bill.
Contracts for the US benchmark slipped 0.2% following two successive closes at all-time highs. European stocks also fell. Tesla Inc. weakened more than 4% in premarket trading after Trump again threatened to withdraw subsidies from Elon Musk’s companies.
Stock bulls have seized control of a market that was rattled by Trump’s trade overhaul, a war in the Middle East and persistent uncertainty over growth and inflation. Yet unpredictability persists, with US trade talks racing toward a July 9 deadline and Trump pushing to finalize a budget that’s projected to add more than $3 trillion to the US deficit over the next decade.
“We’ve had a strong quarter, but there’s still too much on the table,” said Haris Khurshid, chief investment officer at Karobaar Capital. “If the trade talks drag or the tax bill stalls, we’ll see how much conviction these bulls really have.”"
In REIT News
UBS initiates KRG with a Neutral rating ($24 price target)
Raymond James “double upgrades” H to Strong Buy from Market Perform ($165 price target)
KeyBanc downgrades LINE to Sector Weight from Overweight
Yesterday, Freedom Broker initiated FVR with a Buy rating ($17 price target)
AVB priced $400 million of 5.00% senior unsecured notes due 2035 and intends to use the net proceeds for working capital and general corporate purposes, which may include the repayment of outstanding indebtedness under the Commercial Paper Program, identified and prospective land acquisitions, the development and redevelopment of residential communities, the acquisition of communities, funding the SIP investments, and the repayment and refinancing of other indebtedness
HPP announced changes to its Board of Directors, reducing the size from 10 to 8 members where in support of these efforts, two directors, Ebs Burnough and Christy Haubegger, voluntarily resigned from the Board where CEO Victor Coleman says “This more efficient board structure maintains the experience needed to guide our management team while contributing to our ongoing focus on corporate costs to drive value creation for shareholders."
FVR announced the appointment of Pierre Revol to serve as the Company’s Chief Financial Officer effective July 21, 2025
DLR published its 2024 Impact Report showcasing the company's sustainability performance, including a comprehensive overview of its clean energy commitment, resource conservation and other sustainable business practices
Moody’s affirmed REXR limited partnership’s “Baa2” long-term issuer rating and backed senior unsecured rating plus its “(P)Baa2” backed senior unsecured shelf rating with a stable outlook
Yesterday morning, EQR announced changes to its executive management team where 1) Robert A. Garechana, 46, currently the Company’s Executive Vice President and Chief Financial Officer, will assume the role of Executive Vice President and Chief Investment Officer as Alexander Brackenridge, 61, currently Executive Vice President and CIO, will transition to Executive Vice President – Investments and retire at the end of 2025 plus 2) Bret D. McLeod, 42, will join the Company in July 2025 as Executive Vice President - Finance and assume the Chief Financial Officer role on August 7, 2025
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Have a great day!
David Auerbach