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- The Daily REITBeat | Tuesday, June 10th, 2025
The Daily REITBeat | Tuesday, June 10th, 2025
"New Fresh Drivers?"
David Auerbach
June 10, 2025
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Futures slightly in the red at the time of this writing as talking heads focus on US/China trade tariff negotiations in London along with tomorrow’s CPI report coming due which could have impact on Federal Reserve interest rate policy decisions going forward.
From Bloomberg
"US stock futures hovered as a second day of talks between the Trump administration and China got underway, with investors staying cautious in the absence of meaningful progress in the two nations’ trade dispute.
S&P 500 contracts were little changed after erasing an earlier advance. European equities were also flat. The UK’s FTSE 100, however, was poised to close at an all-time high for the first time since March. US Treasuries extended gains ahead of a $58 billion auction of three-year bonds.
While Monday’s negotiations in London between the US and China delivered no breakthrough, American officials had sounded optimistic that the two sides could ease tensions over shipments of technology and rare earth elements. With a key inflation read on tap Wednesday, investors are waiting for fresh drivers after stocks rebounded to near record levels from their April lows."
In REIT News
Mizuho upgrades MAC to Outperform from Neutral (lower price target by $4 to $18)
Yesterday, Morningstar downgraded ESRT to Hold from Buy (maintain $9.50 price target)
Yesterday, Morningstar downgraded SLG ($50 price target) and VNO ($31 price target) to Sell from Hold
In its March 6, 2025 announcement, FCPT disclosed that John S. Moody would not stand for re-election to the Board of Directors of the Company at the 2025 Annual Meeting of Stockholders and Douglas B. Hansen would succeed Mr. Moody as Chair of the Board pending his re-election at the 2025 Annual Meeting where on June 5, 2025, Mr. Hansen was re-elected to the Board and appointed as Chair effective immediately
Yesterday morning, TRNO announced that it acquired an industrial property located in Los Angeles, CA on June 6, 2025 for a purchase price of approximately $10.0 million noting that the property consists of one industrial flex building containing approximately 34,000 sf on 1.5 acres which is 100% leased to four tenants all of which expire by September 2028 and the estimated stabilized cap rate is 6.4%
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David Auerbach