The Daily REITBeat | Tuesday, July 22nd, 2025

"Where's The Hits??"

Author

David Auerbach
July 22, 2025

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Today’s Newsletter (July 22nd, 2025)

Futures in the red at the time of this writing as talking heads focus on a big slate of corporate earnings and look for signs that tariffs are having on results. The other usual topics continue to dominate the headlines including the 10-year treasury hovering around 4.386%.

From Bloomberg

  • "Stocks wavered Tuesday while investors braced for news from companies on how tariffs are filtering through to their earnings.

  • Futures on the S&P 500 were little changed after the gauge hit another record on Monday. Treasuries and the dollar steadied before speeches from Federal Reserve officials, including Chair Jerome Powell. The Fed leader has faced relentless criticism from the Trump administration, mostly over decisions to hold interest rates steady so far in 2025.  

  • A record-breaking stock rally has powered on in the face of growing uncertainty over trade negotiations ahead of the Aug. 1 tariff deadline. But with valuations stretched, the strong second-quarter earnings season is failing to illicit much of a reaction from investors so far, as they wait for more concrete information on the tariff fallout.

  • “Of course we see beats, but that won’t tell us a huge amount about where we are going forward,” J.P. Morgan Asset Management Global Market Strategist Hugh Gimber told Bloomberg TV.  “That’s where we are spending our energy on this earnings season, trying to gauge where the hit from tariffs will come through.”

  • After hitting a series of all-time highs, the S&P 500 is trading around 22 times expected 12-month profits. The S&P 500 hasn’t posted a 1% up or down day since late June. Reports from megacaps Tesla Inc. and Alphabet Inc. are due Wednesday."

In REIT News

  • Barclays double downgrades NNN to Underweight from Overweight (lower price target by $2 to $44)

  • ARE and ELS announced quarterly earnings

  • BRT announced the $36.5 million acquisition of 1322 North, a 214-unit Class A apartment complex in Auburn, AL including a $24.4 million mortgage through a JV in which it has an 80% equity interest as the property complements its ownership of The Village at Lakeside, an Auburn, AL property it has owned since 2019 as the properties are located one mile from each other and near the region’s two largest employers, Auburn University and East Alabama Medical Center

  • CBL closed on the sale of The Promenade, a 621,000 sf open-air center located in D’Iberville, MS, for $83.1 million

  • SITC announced the sale of Sandy Plains Village (Roswell, GA) for $25.0 million, prior to closing costs, prorations and other closing adjustments where $18.1 million of net proceeds were used to repay mortgage debt

  • ESRT it signed a 39,237 sf lease with law firm Elsberg Baker & Maruri PLLC at the Empire State Building where the firm will occupy one full and one partial floor

  • GLPI announced that Carlo Santarelli has been appointed Senior Vice President, Corporate Strategy and Investor Relations, a new position at the Company as he will begin his new position on August 18, 2025 and will report to President and Chief Operating Officer Brandon Moore noting that he will work with senior management to develop and evaluate growth opportunities and strategic relationships, and will oversee investor relations interactions

Download today’s Daily REIT Beat here!

The Daily REITBeat 7-22-25.pdf658.71 KB • PDF File

Welcome your comments and feedback.

Have a great day!

David Auerbach